Santander mortgage timeline

Fate11

Hi @ka86ftb yeah I suppose that’s a positive way of looking at it, I’m getting to a point now  where I’d prefer they just declined and let us move forward with an application elsewhere - would probably still be quicker 🙈🤣😭 they first requested details of how my business was affected by covid, questioned if I was on maternity leave, asked for proof of the SEISS grants I’d received then the next time they requested info about maternity - when am I returning to work, what are our childcare plans, how will it affect business going forward and the latest request we’ve just had has been the last 4 months business account statements (even though I sent them back in Oct, although 2 months were now out of date due to them taking so long). It’s just getting a bit soul destroying now,  especially as they are taking so long to process additional docs, I’m not sure they’ll get to ours before Christmas now. What’s your situation @ka86ftb I really hope you don’t have to wait too much longer!!
 
I forgot to mention that we are also porting our existing Santander mortgage so I don’t think that counts for anything.

Congrats to you @Coopsy85 - at least some people aren’t having to wait forever 👏🏻 Hope the valuation goes smoothly for you 

ka86ftb

Yes I too have written off any expectations of hearing before New Years even , the timeline doesn’t seem to have moved from 8th December on the pipeline applications which isn’t promising or reassuring at all!
I am a SE /single applicant / 73% LTV 
application submitted 10 Nov
 Desktop valuation carried out on 13th
On the 20th they asked for a statement to say business hasn’t been affected by COVID 8th December asked for proof of deposit then 17th December asked for a further statement  for my proof of deposit now it’s back to the underwriting queue. It’s definitely taken the excitement away for both Xmas and of course buying a new house trying to stay positive but feel deflated at times haha

Gingaling

@Coopsy85 Can I ask what the process was before your application was submitted? Did you have to wait to get booked in to speak to an adviser? 
Our application was submitted (via a broker) on 3rd Dec and I think passed the the underwriter queue on 11th Dec...but I was then told it might have been referred to a different (longer) queue because it's over £750k. 
Currently debating whether to cut my losses, cancel that application and apply directly. Broker says he doesnt mind if we do this as vendors are threatening to put the property back on the market in the new year if we havent heard anything...but I'd worry we wont be able to use the valuation they have already carried out on the property and/or we'd just risk going all the way to the back of the queue again!?!
Anyone with any other experience of timescales from initial online application form to offer when going direct?
Thank you!

Coopsy85

@Gingaling I initially emailed the in branch mortgage advisor to let them know we were putting an offer in on a house and would be looking to make an application shortly, offer was accepted on Thursday 3rd, affordability and soft search carried out on 7th, full application and credit check on 9th. 

From what I’ve read on here though, the queue for the underwriters is the common problem so if you’re already there it may cause more delay to start over. 

Hopefully someone with more experience can advise further. Good luck 🤞 

Gingaling

 @Coopsy85 fab thank you - just useful to get an understanding of the direct approach! 

ka86ftb

@Gingaling I think all the queues are really long right now especially because of Xmas and New Years will further delay... why would the vendors do that surely anyone else they find will have to go through the same process...

Gingaling

ka86ftb said:

@Gingaling I think all the queues are really long right now especially because of Xmas and New Years will further delay... why would the vendors do that surely anyone else they find will have to go through the same process...

I know, its so frustrating and really not doing anything to ease the anxiety about it all! I think they were let down by a previous buyer before us and maybe wondering if there is a cash buyer out there waiting in the wings?! 

nbizzle18

Physical mortgage offer received via the post 2 working days after valuation took place. All done here. 

Good luck everyone x 

85c

26C said:

Thoksy said:

26C said:

Finally mortgage has been approved. 
Started 5th oct & got declined 9th Nov.

appealed the decision with new info and have won the appeal.
letter from solicitor worked for escalation, now just waiting for offer to come out.

Congratulations 🎉 
What was the reason you have declined? 

declined due to our company accounts being too far outdated so had to update to 2020 accounts

This is what they’ve asked us to do. MB said they are happy just waiting for an offer I’m preying for one! 

85c

So I’m going into tier 4, feel like we were so close to our offer, terrified it will effect it