Santander mortgage timeline

26C

85c said:

26C said:

85c said:

Santander accepted our appeal they want our last year filed with company house, that’s being done now. But also gone with a new broker and had our dip with Halifax today. We are clutching at straws but want to give it one more shot! 

Have you had a timescale from Santander? We had ours accepted last Wednesday but told we are in re-assessment queue  

No time limit, I was hoping you’d know more 😬

So basically we was told you go into the re-assessment queue which is 6 working days. The 6 days begins from the following day your appeal was accepted 

85c

26C said:

85c said:

26C said:

85c said:

Santander accepted our appeal they want our last year filed with company house, that’s being done now. But also gone with a new broker and had our dip with Halifax today. We are clutching at straws but want to give it one more shot! 

Have you had a timescale from Santander? We had ours accepted last Wednesday but told we are in re-assessment queue  

No time limit, I was hoping you’d know more 😬

So basically we was told you go into the re-assessment queue which is 6 working days. The 6 days begins from the following day your appeal was accepted 

So you should know Friday 🤞🏻

LP_London

First post here, Having a nightmare with Santander. Joint application (SE and E)

Time line so far:
25th Sept - Text to confirm application received.
25th November - Came back and asked a few questions, tax year 18/19 to be balanced and justification of impact covid-19 may have had for the SE, including details of future work. - All sent and UW received on on 26th November. 

5th December - They came back and asked for SE’s 3 months Bank statements and exact date when registered as self-employed. 

7th December - Sent all statements and date of self employed registration. We are using mortgage broker, this would be our 2nd mortgage with Santander. 

No doubt we will be put back in queue again! I am getting very worried that we may not get the mortgage at all. 85% LTV, and house valuation not yet instructed. 

Any advice from anybody would be much appreciated, thank you. 

Meh123

LP_London said:

First post here, Having a nightmare with Santander. Joint application (SE and E)

Time line so far:
25th Sept - Text to confirm application received.
25th November - Came back and asked a few questions, tax year 18/19 to be balanced and justification of impact covid-19 may have had for the SE, including details of future work. - All sent and UW received on on 26th November. 

5th December - They came back and asked for SE’s 3 months Bank statements and exact date when registered as self-employed. 

7th December - Sent all statements and date of self employed registration. We are using mortgage broker, this would be our 2nd mortgage with Santander. 

No doubt we will be put back in queue again! I am getting very worried that we may not get the mortgage at all. 85% LTV, and house valuation not yet instructed. 

Any advice from anybody would be much appreciated, thank you. 

No advice but in the same boat, application on the 17th Oct, SE and E, 82LTV, they came back yesterday asking why 18/19 was lower than 17/18 & 19/20 and for 3 months business statements which were put in yesterday via broker. I think it’s about a 6 day turn around for my new info that’s been submitted so hopefully next week we’ll both know. The wait is a killer 😩

LP_London

Meh123 said:

LP_London said:

First post here, Having a nightmare with Santander. Joint application (SE and E)

Time line so far:
25th Sept - Text to confirm application received.
25th November - Came back and asked a few questions, tax year 18/19 to be balanced and justification of impact covid-19 may have had for the SE, including details of future work. - All sent and UW received on on 26th November. 

5th December - They came back and asked for SE’s 3 months Bank statements and exact date when registered as self-employed. 

7th December - Sent all statements and date of self employed registration. We are using mortgage broker, this would be our 2nd mortgage with Santander. 

No doubt we will be put back in queue again! I am getting very worried that we may not get the mortgage at all. 85% LTV, and house valuation not yet instructed. 

Any advice from anybody would be much appreciated, thank you. 

No advice but in the same boat, application on the 17th Oct, SE and E, 82LTV, they came back yesterday asking why 18/19 was lower than 17/18 & 19/20 and for 3 months business statements which were put in yesterday via broker. I think it’s about a 6 day turn around for my new info that’s been submitted so hopefully next week we’ll both know. The wait is a killer 😩

Thank you! And yes the wait is a killer! SE trades as a sole trader, however his income (and outgoings) is through two personal bank accounts, whereas his ‘business’ account is hardly ever used (including income and outgoings), so we have declared all 3 bank account statements and explained it all. I’ve done some research and sole traders can legally accept their incomes in any way or form including using their personal bank accounts as long as of course they declare it through HMRC for tax purposes. Would this raise any red flags by UW ? Sorry, just thinking of every possible worst case scenario!

Meh123

LP_London said:

Meh123 said:

LP_London said:

First post here, Having a nightmare with Santander. Joint application (SE and E)

Time line so far:
25th Sept - Text to confirm application received.
25th November - Came back and asked a few questions, tax year 18/19 to be balanced and justification of impact covid-19 may have had for the SE, including details of future work. - All sent and UW received on on 26th November. 

5th December - They came back and asked for SE’s 3 months Bank statements and exact date when registered as self-employed. 

7th December - Sent all statements and date of self employed registration. We are using mortgage broker, this would be our 2nd mortgage with Santander. 

No doubt we will be put back in queue again! I am getting very worried that we may not get the mortgage at all. 85% LTV, and house valuation not yet instructed. 

Any advice from anybody would be much appreciated, thank you. 

No advice but in the same boat, application on the 17th Oct, SE and E, 82LTV, they came back yesterday asking why 18/19 was lower than 17/18 & 19/20 and for 3 months business statements which were put in yesterday via broker. I think it’s about a 6 day turn around for my new info that’s been submitted so hopefully next week we’ll both know. The wait is a killer 😩

Thank you! And yes the wait is a killer! SE trades as a sole trader, however his income (and outgoings) is through two personal bank accounts, whereas his ‘business’ account is hardly ever used (including income and outgoings), so we have declared all 3 bank account statements and explained it all. I’ve done some research and sole traders can legally accept their incomes in any way or form including using their personal bank accounts as long as of course they declare it through HMRC for tax purposes. Would this raise any red flags by UW ? Sorry, just thinking of every possible worst case scenario!

I wouldn’t think so, as long as the money is paid into the account and the SA302s are all in order. It would probably take longer though to verify it all if 3 accounts are used which is possibly what the delay is. 

yousnorkmaiden

The questions have started for us. Or rather, me, as my husbands credit file is clean as a whistle. 

85c

LP_London said:

Meh123 said:

LP_London said:

First post here, Having a nightmare with Santander. Joint application (SE and E)

Time line so far:
25th Sept - Text to confirm application received.
25th November - Came back and asked a few questions, tax year 18/19 to be balanced and justification of impact covid-19 may have had for the SE, including details of future work. - All sent and UW received on on 26th November. 

5th December - They came back and asked for SE’s 3 months Bank statements and exact date when registered as self-employed. 

7th December - Sent all statements and date of self employed registration. We are using mortgage broker, this would be our 2nd mortgage with Santander. 

No doubt we will be put back in queue again! I am getting very worried that we may not get the mortgage at all. 85% LTV, and house valuation not yet instructed. 

Any advice from anybody would be much appreciated, thank you. 

No advice but in the same boat, application on the 17th Oct, SE and E, 82LTV, they came back yesterday asking why 18/19 was lower than 17/18 & 19/20 and for 3 months business statements which were put in yesterday via broker. I think it’s about a 6 day turn around for my new info that’s been submitted so hopefully next week we’ll both know. The wait is a killer 😩

Thank you! And yes the wait is a killer! SE trades as a sole trader, however his income (and outgoings) is through two personal bank accounts, whereas his ‘business’ account is hardly ever used (including income and outgoings), so we have declared all 3 bank account statements and explained it all. I’ve done some research and sole traders can legally accept their incomes in any way or form including using their personal bank accounts as long as of course they declare it through HMRC for tax purposes. Would this raise any red flags by UW ? Sorry, just thinking of every possible worst case scenario!

We are ltd but was st, hubby says it doesn’t matter as long as it tally’s up you will be fine! 

Meh123

yousnorkmaiden said:

The questions have started for us. Or rather, me, as my husbands credit file is clean as a whistle. 

Good luck! We’re at the same stage, wanted husbands 3 months of statements (SE) and an explanation for one of his years being lower than the other 2. 

If they’ve just asked for an explanation it might be pretty quick for you as I’m sure some of those are just done as broker messages 👍🏻

yousnorkmaiden

Meh123 said:

yousnorkmaiden said:

The questions have started for us. Or rather, me, as my husbands credit file is clean as a whistle. 

Good luck! We’re at the same stage, wanted husbands 3 months of statements (SE) and an explanation for one of his years being lower than the other 2. 

If they’ve just asked for an explanation it might be pretty quick for you as I’m sure some of those are just done as broker messages 👍🏻

Thank you! It was questions about a few (three) missed payments from three/four years ago when I was studying - hoping our answers are good enough. I’m on annual leave for the rest of the year from tomorrow - if we get an answer before then I’ll be cracking open the champagne for breakfast!