Santander mortgage timeline

mowgliisaG

homese2 said:

mowgliisaG said:

homese2 said:

Finally got our mortgage offer after 8 weeks. Both self employed - both took the first and second SEIS- 83% LTV and  X4.5 salary.  They asked us twice for additional documents/ information (accountant’s letters and letters explaining impact of  November lockdown). Feeling extremely relieved. I can’t even quite believe this is over! Good luck to everyone! 

Application: 21/09

Hard Search: 21/09

Joined UW queue: 28/09

Valuations Instructed: 05/10 

Valuation carried: 22/10

First additional information requested: 26/10

Hard Search again: 26/10

Second additional information requested: 04/11

Mortgage Offer: 17/11 

Huge congratulations!!! Happy for you and bet you’re so relieved. Gives all us SE people on here some confidence too...
what did they ask for from accountants letters??? And who were letter about November impact from?? Did you get back to pre Covid levels of trading?? 

Im sure you will be getting your offer soon! 

First they asked us to provide an accountants letter - detailing earnings since tax year end 2020 and amounts of payments received from government and whether this assistance was ongoing. And after they asked us to provide further letter to confirm how 2nd lockdown was expected to affect business, what were the trading profit/Net profits to date and if this was expected to be maintained for the year. The first we sent accountant’s letters and the second we wrote ourselves. 

Wow that’s a lot of information...but I suppose who cares as long you get offer..well pleased for you 

yousnorkmaiden

Joining this gang...
Submitted via broker on the 11th - both employed, 83% LTV FTB, borrowing 2.6x BUT I have some credit card debt due to us not expecting to be starting this now! I  cleared a huge chunk the day after we submitted but it's still notable (weddings are expensive). Our perfect house has come on the market...I have a few late payments from 34 months ago, husband's record is crystal clear. I'm horribly impatient and our sellers are a bit chasey as well. I know we have a long wait ahead of us but it's already driving me to distraction. 

missusaitch83

Jwoffy said:

missusaitch83 said:

I'm still waiting for a decision for our mortgage for a few weeks now. My husband and I have applied through help to buy through a broker and application was accepted 19/10/2020. It went to the underwriter and I was asked to send some documentation of proof of DLA for my son which was sent and accepted 02/11/2020. We got our ATP last week and still waiting for mortgage offer. My broker emailed me today and said its been on the underwriter's desk for just over a week but they still haven't made a decision. I'm guessing we should get good news as we got the loan from the government approved but the anxiety is real right now! Has anyone else been in a similar situation? 

You’re in the exact same position as me. Ours went to the UW on 19/10, we received our ATP 04/11. The mortgage company asked for a letter from my employer to confirm that I was no longer on furlough on Wednesday last week and the valuation took place on Thursday last week. I’m hoping we will get our offer this coming week. 

Have you heard anything yet? I've just had email from MB asking to see my payslip for October so god knows how long I'll wait now!

prozac321

How long does it take once you reach the top of the underwriting queue. Underwriters started looking at mine last thursday, but broker has had no response. Not even any messages/questions

Meh123

prozac321 said:

How long does it take once you reach the top of the underwriting queue. Underwriters started looking at mine last thursday, but broker has had no response. Not even any 

Personally I’d be asking my broker to give them a call! It’s not an unreasonable request if they’ve had your application for close to a week.

85c

prozac321 said:

How long does it take once you r each the top of the underwriting queue. Underwriters started looking at mine last thursday, but broker has had no response. Not even any messages/questions

prozac321 said:

How long does it take once you reach the top of the underwriting queue. Underwriters started looking at mine last thursday, but broker has had no response. Not even any messages/questions

Looked at ours on the Friday/Monday had an update on the Tuesday. 

Meh123

Well the UW’s seem to have sat on a box of fireworks or something as the UW queue has gone from the 14th Oct this morning to the 16th Oct when it updated at 2pm 👌🏻👌🏻 

fastbs

Meh123 said:

Well the UW’s seem to have sat on a box of fireworks or something as the UW queue has gone from the 14th Oct this morning to the 16th Oct when it updated at 2pm 👌🏻👌🏻 

This is what we like to see!

85c

mowgliisaG said:

haras_n0sirrah said:

Meh123 said:

haras_n0sirrah said:

Santander have two queues
The 'easy' queue (employed, no adverse etc) and the senior underwriter queue (self employed, adverse) - worth finding out which queue you are in. The advertised timescale on the website is the longer queue so the shorter one shouldn't be that long 

Hey!! So strange to see you on here instead of your thread!!
The bulk of us are in the SE queue.....dying slow and painful deaths waiting!! 😂😂

I feel your pain- daily. It is just as frustrating our side of the desk believe me.

Hey Sarah, welcome, your wisdom and input on this group is always always welcome. 

Like @m@Meh123 said most of us are SE and slowly dying waiting and wishing our life away. 

Some on here have been asked for letters from accountants to verify Covid impact, what if your accountant doesn’t provide this kind of information (there is a strong opinion of some accountants to not take the responsibility to comment on the sustainability or future of a business) 

I thought it was a letter from accountant they asked for, but it was a form from Santander accountant had to feel in. He wrote 2 lines. 

beebop1

Meh123 said:

Well the UW’s seem to have sat on a box of fireworks or something as the UW queue has gone from the 14th Oct this morning to the 16th Oct when it updated at 2pm 👌🏻👌🏻 

Sounds good... So will be 19th Oct tomorrow ... can't wait