Santander mortgage timeline

ftbhoping

JenniferMcConnell said:

We’re still waiting on our formal offer, MA thinks it’ll be fine but I was furloughed (back full time now) and my partner is SE. I’m so nervous they’re going to reneg the dip or offer a lower amount (currently 85%). We’re ftbs too.

anyone experienced the same disappointment?? If Santander end up saying no, is it worth our broker trying elsewhere? We’re chain free on both sides but vendor keen to get going! 

What’s been your timeline so far? We’re also SE via Ltd business. I guess you’d need to try somewhere else otherwise you’d lose the house but I’ve heard that lenders can offer subject to conditions e.g - you need to repay a credit card or perhaps up the deposit slightly. It’s all just a minefield 

SueF1

cooky123 said:

ftbhoping said:

just upgraded to full Experian report and can see 2 searches on 26/8 (day we applied). One says ‘won’t impact credit report’ and the other is for Application Type - First Mortgage ‘can impact credit score’.
Does this mean that they’ve credit checked us? I’m panicking as MB said yesterday everything has passed with the UW and they’re just awaiting valuation sign-off, advised by Santander that should be done by Tuesday. I’m wondering how we can get to that point if they’ve not even hard checked us... they’ve not even asked questions ????

My mortgage adviser told me the exact same thing and said would have the offer by a date then a week after that lender asked for more documents that was two weeks after valuation I would not go by what broker says until you have your offer but the hard search and soft search is done once so that part is done which is good :-) 

Oh no, don't say that! Just when I was starting to feel slightly more positive about the whole thing  We've got valuation on Wednesday and I was hoping an offer may follow fairly shortly after..... maybe not!

ftbhoping

@SueF1 don’t worry. I think a lot is based on whether the UW has been done so if there’s a good few weeks wait first 🤞🏼

cooky123

So mortgage application submitted 7th August hard and sort check on 10th August then I was told it was with underwriters and a valuation was booked on 21st August my broker told me I would have full offer within days as with underwriter final checks then I heard nothing Until 28th August at which point they then said Santander valuation was 20k downvalued required some more info requested back to work letter from furlong and more self employed info for our limited company. Then we sent this to the broker within the day and also the seller of the 20k downvalue property wouldn’t budge on price so we found something else and broker sent a change of property form to Santander along with the evidence I think broker sent this on Friday 11th September as he asked me for the address again. And said all sent. Since then Iv heard nothing and had no reply from mb mine is a bit different since changed property due to valuation but I did wait ages after valuation to be told that I needed to send some more bits.. I’m honestly giving up on it now! 

firsttimebuyerlpl

Has anyone had any dealing with indexpi for local searches? How quick are they? 

FTBSolihull

Santander have asked me to supply a letter from my employer stating I’m not up for redundancy and won’t be for the foreseeable future as I work for an airline and they see that as a high risk business in the current situation. MA said he’d never seen a request like this before and employer won’t give the letter, what company would, so we’re stuck in catch 22. Most likely going to stop the application. 

ftbhoping

FTBSolihull said:

Santander have asked me to supply a letter from my employer stating I’m not up for redundancy and won’t be for the foreseeable future as I work for an airline and they see that as a high risk business in the current situation. MA said he’d never seen a request like this before and employer won’t give the letter, what company would, so we’re stuck in catch 22. Most likely going to stop the application. 

That’s just a step too far isn’t it. Where are you at in the process? Have you had valuation done? X

FTBSolihull

We were awaiting valuation but my understanding was that it was just going to be a desk top evaluation. We’ve gone back to them and said we won’t supply this document so just waiting to hear what they’ll say. 

ftbhoping

FTBSolihull said:

We were awaiting valuation but my understanding was that it was just going to be a desk top evaluation. We’ve gone back to them and said we won’t supply this document so just waiting to hear what they’ll say. 

That letter would mean nothing though, can they not just write it for you? 

FTBSolihull

No, unfortunately. Company only writes generic mortgage reference