Santander mortgage timeline

HunnyBea13

No the opposite meaning our 2019/2020 figures are double  the 2 previous years and so all other lenders would average the 2 years meaning our affordability would not be high enough for what we want to borrow 

I’m in a sort of similar position in that my 2019/20 figures are good, but the previous year is about half the earnings as I was recovering from surgery. The year before I had no earnings at all due to major surgery. If they take an average my earnings look low, but if they work it out based on last year then it looks ok. I’ve included medical records etc, and I only need a relatively small mortgage 21% LTV. But who knows, I’m at the mercy of Santander and anxious 

85c

Katemb94 said:

85c said:

Katemb94 said:

85c said:

Katemb94 said:

85c said:

Katemb94 said:

85c said:

Katemb94 said:

85c said:

Katemb94 said:

Morning all
Ive seen so many people being declined at underwriter stage for failing credit or not meeting criteria surely this is checked before it goes into UW que? As a waste of our and their time? 
My solicitor is writing to lender today as my buyer is threatening to pull out if we cannot exchange by the 10th December don't hold out much hope that this will speed anything up.
Good luck today for those waiting 

Our MB said a letter does help. We asked our solicitor to do it but she refused. 

My solicitor emailed me offering i just need to get hold of my application number I think its because the buyers solicitor is on to her. Thanks for reply 

Whats you situation, SE? E? When did you apply? 

I'm Employed my husband LTD company. We applied on the 10/11 so long wait originally applied with our current lender 22nd June then got declined 9/11

We are similar, ltd company went with Aldermore originally they made us an offer the. Retracted it as they changed there criteria. We are now 8 weeks in with Santander. 

Sorry to hear this, I hope you get a reply soon.
I can't believe how much everything has changed we got a mortgage in 2019 my husband only had company 18 months, 5% deposit 95% LTV with a small building society and 2 credit cards

This time he's had the company 3 years, 69%LTV and no debt and struggling to find a lender to touch us.

 

We’re you effected by covid?

No the opposite meaning our 2019/2020 figures are double  the 2 previous years and so all other lenders would average the 2 years meaning our affordability would not be high enough for what we want to borrow 

Sorry would be high enough? Or wouldn’t be high enough? 

If they averaged last 2 years it wouldn't be high enough but our MB advised santander will use latest years figures to determine affordability and not average so we should be OK but who knows! 

Oh right I see. Yes I’ve read they will use latest figures so fingers crossed

Meh123

For people waiting to get to the top of the UW queue...it started Monday morning on the 19th and is already on the 26th!! I’ve been stalking that site for 6 weeks and it has never moved that fast ever! A week cleared in 2 days has never happened before 🙌🏻

fastbs

Meh123 said:

For people waiting to get to the top of the UW queue...it started Monday morning on the 19th and is already on the 26th!! I’ve been stalking that site for 6 weeks and it has never moved that fast ever! A week cleared in 2 days has never happened before 🙌🏻

I just noticed that 🤞🏼🤞🏼

cherryx3x3

So happy to see its at 26th! Good luck to everyone else who has been waiting too.

For the people who have had offers, how quick did you hear when you hit the top of the pile? 

fastbs

cherryx3x3 said:

So happy to see its at 26th! Good luck to everyone else who has been waiting too.

For the people who have had offers, how quick did you hear when you hit the top of the pile? 

We haven’t had an offer yet but ours hit the top of the pile on the 19th and we only had a question to answer that day but haven’t heard anything since 😖

85c

fastbs said:

cherryx3x3 said:

So happy to see its at 26th! Good luck to everyone else who has been waiting too.

For the people who have had offers, how quick did you hear when you hit the top of the pile? 

We haven’t had an offer yet but ours hit the top of the pile on the 19th and we only had a question to answer that day but haven’t heard anything since 😖

We had a question in the 10th answered it with the form from accountant on the 16th still not heard anything. 

mowgliisaG

cherryx3x3 said:

So happy to see its at 26th! Good luck to everyone else who has been waiting too.

For the people who have had offers, how quick did you hear when you hit the top of the pile? 

I got to the top on Monday, broker confirmed offer approved Monday morning..but is now at the mortgage processing centre where they match documentation upto the valuation and do admin to send offer out...4 day queue there...

MatthewB21

mowgliisaG said:

cherryx3x3 said:

So happy to see its at 26th! Good luck to everyone else who has been waiting too.

For the people who have had offers, how quick did you hear when you hit the top of the pile? 

I got to the top on Monday, broker confirmed offer approved Monday morning..but is now at the mortgage processing centre where they match documentation upto the valuation and do admin to send offer out...4 day queue there...

We got the text through today so hopefully you won’t have long! 

missusaitch83

Just had an email from our broker and mortgage has been approved, just waiting for offer to come through! So relieved! Good luck to everyone else waiting🤞🏻