Santander Mortgage Rejected by head office

fazsnatch

Hi all,

I recently went through the process of applying for a mortgage with Santander. I went through the process of:

- House offer being accepted
- Deposit approved which is comfortably in Santanders bracket. Even have room of 30k more which I could borrow.
- Mortgage details approved including all documentation (Id, statements, payslips etc)
- Went to underwriters who approved
- Valuation then was instructed and was successful.
- Got email to say the offer is being sent out. So at this point I was :j

48 hours after and waiting on the offer being sent out, I got a email with the following:

"Thank you for your recent application.

We've been unable to agree this application because your application has failed a head office review.

We appreciate that this decision may be disappointing. In line with our responsible lending policy, we based our decision on an analysis of all the information you gave us at the time of your application, as well as information collected from the credit reference agencies we use."


I have chased and chased Santander but they are not willing to tell me the reason for the rejection. I have raised a complaint but I don't expect any response to it.

I have also checked my credit history and it is near perfect. Experian have told me there is no issues they can find on the account. I am also listed on the electoral roll of the house i live, so I am still unsure why this was rejected.

This is likely to mean I will not be able to buy the house due to the long duration of time Santander have been sitting on my application.

Would appreciate any next steps? Is there anyway to get Santander to tell me the reason? If i was to try with another lender, my concern is it could be rejected due to the same unknown reason Santander have rejected it.

MovingForwards

Have you checked through all three credit reference agencies reports (MSE credit club, credit karma and Clearscore)?

You need to look through all open and closed accounts, look for any late / missed payments and anything else.

You on the electoral roll?

Santander are very strict with their lending and no institution will say exactly why they rejected you.

LRmortgage

I would get your credit files in front of a broker. This sounds like a head office audit of your file. It’s unlikely you will find out from them what the issue is.

You need an experienced broker to look at your file and try to work out what gone wrong.

Depending on what is found. As long as it’s nothing too serious, In theory, you could apply to another lender and have no issues whatsoever and some lenders can get from application to offer very quickly.

fazsnatch

I have no other debt, no missed payments and I am on the electoral roll according to Experian.

Any suggestions on what lender maybe more flexible in comparison to Santander? Are there any brokers who can be suggested who can get this done?

haras_nosirrah

There are a lot of excellent brokers on this site. Why not look through the forum and pm someone who you feel gives good advice.

LRmortgage

We (brokers) are not allowed to ‘tout’ for business on this site. We also cannot make recommendations as we don’t know your full circumstances and it could be viewed as financial advice.

As mentioned above, your best bet is to either find a local broker through recommendation from friends and family or PM one if the brokers on here and see if they are willing to help.

h240

Sorry you got declined. I have a feeling this will happen to me and my husband. Did you use a broker? We did and it’ll be 4 weeks ago in a couple of days that the application was submitted and it’s been very quiet since valuation on Monday last week, broker said it was all ok but I have a bad feeling :-(

littlecloud

I have a bad feeling too! I've gone through all of the above, had the valuation, everything. Now they've been picking apart my bank statements and were still asking questions on Friday. Didn't get a wink of sleep all weekend worrying about it. They've done four credit checks, and I dread having to start all over again if they say no. I think it's because I'm self employed. I think it's shocking that they can turn you down without any explanation though. It might be worthwhile getting a free trial with Experian to check out your credit in depth.

h240

We’ve had 2 credit checks on the 23rd December that was. Just heard from broker that they have been waiting for a CML form from the developer and now they’ve got that it can take 3 days to process then 2 more days to get the mortgage offer so we won’t be hearing anything until earliest Friday, it’s killing me!!

littlecloud

Urgh, h240 that's so annoying. Ours went in last week (we have a new build too). I'm trying everything I can to distract myself. I know that when Santander offered the mortgage for our last house that fell through, we had four credit checks, one hard and one soft at the beginning and two more on the day we were offered the mortgage. I presumed as we were approved the last time, we'd get it no problem the second time around as it wasn't that long ago. Hopefully, we both get nice surprises of offers soon.

h240

So frustrating isn’t it! I’ve just cleaned the house for the last couple of hours hoping it would distract me! Our current mortgage with Barclays took this long and i really didn’t think this one would! Keeping everything crossed :-)