Santander mortgage timeline

85c

Lonnie085 said:

Hey all, I’ve spend the past couple of days looking through this forum for any glimmers of hope and reassurance.. I am a day or two away from being top of the ‘pile’ since 16th Nov, now we are in Tier 4 and that means lockdown for my business, a hair salon I’m doubtful I will come out with an offer?? 

So I’m self employed 3 years, business growth each year, 41% LTV needed. Always keep a saving ‘buffer’ aside for s/e income. The application is of myself the main earner, and my husband who’s retired and looks after our son.

I’ve applied with the help of an mortgage advisor. Santander have already carried out a online valuation and survey. They’ve received the usual documents off me plus accountants filled in form for income with good notes also a predicted/forecast  Income accountants letter for 2021 too.

Give it to me straight guys... what’s your thoughts or anyone been in or are in the same boat? Thanks so much 😊🙏🏻

I really don’t want to give it to u straight but someone on here was declined because his wife had a salon and it shut in the lock down, but they were appealing. We’ve also been declined but no idea why we are a ltd company business grew through covid. But we are also in appeal. All I’ll say is there is not much sense to applying some seem to go through no question others they seem so strict with! I really have everything crossed for u. Our application went in on 1/10 abs we are still going. 

Bad123

Just had another request from santander aletter from our accountant to say the money in our savings its not dividend iam so fed up with santander our broker is confirming that will stay in the same queue  not sure I believe anything anymore 😫

85c

Bad123 said:

Just had another request from santander aletter from our accountant to say the money in our savings its not dividend iam so fed up with santander our broker is confirming that will stay in the same queue  not sure I believe anything anymore 😫

I’m so sorry I know how soul destroying it is. We’ve been told we will have an update at end of the week, knowing our luck it will be more info or a decline 

ka86ftb

85c said:

Bad123 said:

Just had another request from santander aletter from our accountant to say the money in our savings its not dividend iam so fed up with santander our broker is confirming that will stay in the same queue  not sure I believe anything anymore 😫

I’m so sorry I know how soul destroying it is. We’ve been told we will have an update at end of the week, knowing our luck it will be more info or a decline 

You basically typed my exact thoughts... i feel like we're all losing hope 😔 its dragged on for ages.... a part of me just isn't that enthusiastic anymore. I went a whole few days without even checking their service levels. Just fed up

85c

ka86ftb said:

85c said:

Bad123 said:

Just had another request from santander aletter from our accountant to say the money in our savings its not dividend iam so fed up with santander our broker is confirming that will stay in the same queue  not sure I believe anything anymore 😫

I’m so sorry I know how soul destroying it is. We’ve been told we will have an update at end of the week, knowing our luck it will be more info or a decline 

You basically typed my exact thoughts... i feel like we're all losing hope 😔 its dragged on for ages.... a part of me just isn't that enthusiastic anymore. I went a whole few days without even checking their service levels. Just fed up

I’m so sorry I feel like I’m the gloom of Santander. There’s no sense to how they do this! 

cherryx3x3

Haven't posted in a while and i've come back to see alot of us of the same opinion of Santander!
We applied 26th October, got to the top of the pile mid November to then be asked for a letter from my employer to state I am still employed due to being furloughed previously (working reduced hours due to personal issues) sent this then got knocked back to the bottom of the pile again....to then be asked for ANOTHER letter on 22nd Dec to state which date I was returning to work full time which was yesterday (4th Jan) they have then come back AGAIN yesterday to ask for another letter to state how many hours I am working and my salary(this was on the previous letter)MB isnt very impressed with them so he spent the afternoon yesterday on hold to finally speak to someone who is of the same opinion - why do they need another letter that reads exactly the same so they are going to try and get a manager to get onto the underwriter and try get this sorted.

We can all only hope at this awful time!

AnonymousT

cherryx3x3 said:

Haven't posted in a while and i've come back to see alot of us of the same opinion of Santander!
We applied 26th October, got to the top of the pile mid November to then be asked for a letter from my employer to state I am still employed due to being furloughed previously (working reduced hours due to personal issues) sent this then got knocked back to the bottom of the pile again....to then be asked for ANOTHER letter on 22nd Dec to state which date I was returning to work full time which was yesterday (4th Jan) they have then come back AGAIN yesterday to ask for another letter to state how many hours I am working and my salary(this was on the previous letter)MB isnt very impressed with them so he spent the afternoon yesterday on hold to finally speak to someone who is of the same opinion - why do they need another letter that reads exactly the same so they are going to try and get a manager to get onto the underwriter and try get this sorted.

We can all only hope at this awful time!

It’s so frustrating isn’t it!  Why they can’t ask for ALL the information in one hit is beyond me.  It wouldn’t be so bad if it was a day or two between requests, but it’s weeks sometimes.

85c

Finally we had our offer this morning!!! After 12 weeks and a decline and an appeal! £15k under but we can make that work! We originally went with Aldermore who after 11 weeks retracted it! So after 7 months we have an offer. I’m still soooo nervous they might change there minds 😂😬

Thoksy

85c said:

Finally we had our offer this morning!!! After 12 weeks and a decline and an appeal! £15k under but we can make that work! We originally went with Aldermore who after 11 weeks retracted it! So after 7 months we have an offer. I’m still soooo nervous they might change there minds 😂😬

Congratulations Happy for you 

85c

Thoksy said:

85c said:

Finally we had our offer this morning!!! After 12 weeks and a decline and an appeal! £15k under but we can make that work! We originally went with Aldermore who after 11 weeks retracted it! So after 7 months we have an offer. I’m still soooo nervous they might change there minds 😂😬

Congratulations Happy for you 

Thank you 😄