BBL with Santander

Danrover82

Hi all,   so last weekend I applied with Santander through a personal account as HSBC have been atrocious.
I only started as a ST in Oct, turn over of 23k to in 1st half of my 1st year.

So they required  proof of business for 18/19 but I have 19/20 as that's all I had. 

I've since had further request for info Nature of business, invoices to customers etc which I have submitted today. 

Spoke to them on phone and they say I they received info, it will be looked into and assigned a case manager? 

I wouldn't need a feeder account apparently, so it's made me wonder how this is likely to play out as my credit score is poor and both my santander accounts live in OD at moment.
Dunno what to expect now. 

Anyone had similar? 

obrienkenobi

Neither your overdraft or poor credit should be an issue however you may still have a problem.

Santander do accept applications from Current account customers who dont have a business account and run all their business payments through their personal account however your personal Santander account MUST be the main account you use for your business.

If (as it sounds) you have an account with HSBC that you use for your business and dont run your business payments through the Santander account there's a good chance they'll decline you.

In fact a couple of weeks ago Santander did a mass cull of BBL applications from personal account holders stating that the reason for the decline was that this wasnt their primary account for running their business even though many of those people claim that it was.

End of the day, you've already put your app in so play it through to the end but it may well be that you're declined, I'm afraid.

Good luck.

Danrover82

So why would they request further information,  on top of the original information I supplied them Only to turn it down? 

obrienkenobi

In short, because they're useless.

And I dont say that flipantly. I applied for my BBL on 4th May and eventually got it on 29th May. In that almost 4 weeks their communication was absolutely non existent when it came to my application and so I was talking to lots of people in the same boat, all of us trying to find out what the hello was going on. Many of them, much like yourself were personal account applicants and regularly they would be kept on the hook with extra information requested periodically only to be turned down for the "this isn't the main account you use for your business reason".

It's very poor but there's nothing you can do I'm afraid. Go through the process and cross your fingers.

Danrover82

Spoke to them.  Seems the info I was given last week was b@!!*ks. No guarantee that it would be declined but a good more than likely would struggle 

Looks like il have to cancel and find someone who will look at it 

scult

I have a dormant limited company that I have not used since Dec 2018. I was made redundant May 2020, as my contract ended,(last job was not via my own company) and my OH has applied for a BBL with Santander that has been approved using my own business account with Cater Allen. Where do I stand if my next job is as an ‘on the books employee’ and I have taken out and accepted the Santander BBL, which incidentally was for £18000?  

Jeremy535897

That's a muddle. Why would your partner apply for a loan in respect of their business using your business bank account, which you then accept? Where does the dormant limited company enter into this? Does your partner have a business?

ELLYP

I received my bbl from Santander months ago now and it’s still not showing on my statement. 

I’d be interested to know from other Santander business customers if it’s showing on theirs yet? 

justwhat

ELLYP said:

I received my bbl from Santander months ago now and it’s still not showing on my statement. 

I’d be interested to know from other Santander business customers if it’s showing on theirs yet? 

applied on the last saturday and had cash in the bank on tuesday.

ELLYP

justwhat said:

ELLYP said:

I received my bbl from Santander months ago now and it’s still not showing on my statement. 

I’d be interested to know from other Santander business customers if it’s showing on theirs yet? 

applied on the last saturday and had cash in the bank on tuesday.

Hi, Thanks for your reply, sorry I didn’t explain too well. I received the money but it’s not showing on my statement. 

nturner22

Same here applied, have the funds, nothing showing on my account so can’t see the loan anywhere. My husband has one with HSBC and he can see his BBL on his online account