Santander mortgage timeline

SuH3

Do  hope we here this week as our buyer is looking to move in next two weeks.

ftbhoping

So I’ve spoken to MB today as the EA has called saying they’ll pull the sale if we don’t move on things quickly. Basically there was a month delay before we could submit application hence why they’re getting fractious about timescales. We only applied last Wednesday 26/8. The MB spoke to Santander who have advised that the underwriters are working over weekends at the moment in an effort to catch up with the backlog. I’m so nervous as if we don’t have an answer in 7 days then we’ll lose the house and all the money so far for reservation fees and extras that we’ve paid upfront on the new build. We’ve given notice on rental and had to extend for 1 month so looks like we’ll be moving in with parents even if we don’t get the house purchase. I could cry 😓

Drawingaline

ftbhoping said:

So I’ve spoken to MB today as the EA has called saying they’ll pull the sale if we don’t move on things quickly. Basically there was a month delay before we could submit application hence why they’re getting fractious about timescales. We only applied last Wednesday 26/8. The MB spoke to Santander who have advised that the underwriters are working over weekends at the moment in an effort to catch up with the backlog. I’m so nervous as if we don’t have an answer in 7 days then we’ll lose the house and all the money so far for reservation fees and extras that we’ve paid upfront on the new build. We’ve given notice on rental and had to extend for 1 month so looks like we’ll be moving in with parents even if we don’t get the house purchase. I could cry 😓

If they pull and sell to someone else that person is still going to need to apply for a mortgage so will still have to wait 🤷 honestly I doubt they will pull it. Point that out to them and underline where else you are with legal stuff etc. Is it literally just the mortgage that you are waiting on to exchange and complete? 

Peter74

ftbhoping said:

So I’ve spoken to MB today as the EA has called saying they’ll pull the sale if we don’t move on things quickly. Basically there was a month delay before we could submit application hence why they’re getting fractious about timescales. We only applied last Wednesday 26/8. The MB spoke to Santander who have advised that the underwriters are working over weekends at the moment in an effort to catch up with the backlog. I’m so nervous as if we don’t have an answer in 7 days then we’ll lose the house and all the money so far for reservation fees and extras that we’ve paid upfront on the new build. We’ve given notice on rental and had to extend for 1 month so looks like we’ll be moving in with parents even if we don’t get the house purchase. I could cry 😓

Out of interest, is it a freehold or a leasehold you're buying?

ftbhoping

Peter74 said:

ftbhoping said:

So I’ve spoken to MB today as the EA has called saying they’ll pull the sale if we don’t move on things quickly. Basically there was a month delay before we could submit application hence why they’re getting fractious about timescales. We only applied last Wednesday 26/8. The MB spoke to Santander who have advised that the underwriters are working over weekends at the moment in an effort to catch up with the backlog. I’m so nervous as if we don’t have an answer in 7 days then we’ll lose the house and all the money so far for reservation fees and extras that we’ve paid upfront on the new build. We’ve given notice on rental and had to extend for 1 month so looks like we’ll be moving in with parents even if we don’t get the house purchase. I could cry 😓

Out of interest, is it a freehold or a leasehold you're buying?

It’s a freehold detached. 

ftbhoping

Drawingaline said:

ftbhoping said:

So I’ve spoken to MB today as the EA has called saying they’ll pull the sale if we don’t move on things quickly. Basically there was a month delay before we could submit application hence why they’re getting fractious about timescales. We only applied last Wednesday 26/8. The MB spoke to Santander who have advised that the underwriters are working over weekends at the moment in an effort to catch up with the backlog. I’m so nervous as if we don’t have an answer in 7 days then we’ll lose the house and all the money so far for reservation fees and extras that we’ve paid upfront on the new build. We’ve given notice on rental and had to extend for 1 month so looks like we’ll be moving in with parents even if we don’t get the house purchase. I could cry 😓

If they pull and sell to someone else that person is still going to need to apply for a mortgage so will still have to wait 🤷 honestly I doubt they will pull it. Point that out to them and underline where else you are with legal stuff etc. Is it literally just the mortgage that you are waiting on to exchange and complete? 

Yes that’s very true. No I’ve not given the go ahead for searches yet as MB said to hang fire until I get the mortgage offer. If their legal team begin answering to our searches and the sale then falls through we’ll also be liable for their legal costs so this isn’t a risk I’m willing to take for the sake of a few more weeks. X

Drawingaline

Mortgage offer today!!!😁 One day short of seven weeks 😳😱  one hurdle down, now onto all the queries.

SuH3

Still no news for us applied 3rd August . All paperwork passed Friday 21st , Valuation done 27th . Still awaiting news on valuation MA said news this week but im beginning to give up hope . 

firsttimebuyerlpl

We’ve heard from our MA today that our valuation has now been signed off and it’s waiting in underwriter queue to be signed off. We submitted our application on the 11th of August. Fingers crossed we hear something back this week. 

SuH3

@firsttimebuyerpl looks like we’re in the same pile waiting to be signed off . Good Luck hope we both get news this week , driving us crazy