Santander mortgage timeline

Jimwaz18

I posted on here a couple of weeks ago but here’s my update, we applied on the 16 October everything going smooth, they asked a few questions and everything agreed subject to valuation on the 25 November. 16 December we got our txt and email saying formal mortgage offer agreed, the day after they asked for more business bank statements and the offer was sent out by mistake. Got all the documents of mortgage through post 2 days later but got told to ignore because it was all a mistake! The day after that my MB phoned me to tell me declined 😡 apparently the have looked at my earring for the second time incorrectly even though passed first time. We went to appeal and still haven’t heard anything.

yesterday we applied with Halifax while waiting on Santander, paid the £200 fee and within 1 hour all our earnings verified and happy, hard credit check done and valuation booked for today so just waiting on that. It took 7 weeks to get to this stage with Santander while it took 1 hour with Halifax madness.

im self employed girlfriend fully employed 15% deposit on a £150,000 property. Santander are a joke!!!

AnonymousT

Offer in this week, applied 26/10 lol
Im Ltd my partner is employed.  Yes business took a dip during the summer, but I’m back to pre-Covid income now.
They would only take my last years revenue into consideration so they have come back with a rather sizeable (but workable) shortfall.


It just seems that they’re being really tough at the moment, particularly around SE & Ltd

85c

Jimwaz18 said:

I posted on here a couple of weeks ago but here’s my update, we applied on the 16 October everything going smooth, they asked a few questions and everything agreed subject to valuation on the 25 November. 16 December we got our txt and email saying formal mortgage offer agreed, the day after they asked for more business bank statements and the offer was sent out by mistake. Got all the documents of mortgage through post 2 days later but got told to ignore because it was all a mistake! The day after that my MB phoned me to tell me declined 😡 apparently the have looked at my earring for the second time incorrectly even though passed first time. We went to appeal and still haven’t heard anything.

yesterday we applied with Halifax while waiting on Santander, paid the £200 fee and within 1 hour all our earnings verified and happy, hard credit check done and valuation booked for today so just waiting on that. It took 7 weeks to get to this stage with Santander while it took 1 hour with Halifax madness.

im self employed girlfriend fully employed 15% deposit on a £150,000 property. Santander are a joke!!!

I have been thinking about you! That’s awful we have our offer after 12 weeks and a decline and appeal, subject to valuation but I’m still really worried. Please let me know how it goes with hakifax! Good luck! 

85c

AnonymousT said:

Offer in this week, applied 26/10 lol
Im Ltd my partner is employed.  Yes business took a dip during the summer, but I’m back to pre-Covid income now.
They would only take my last years revenue into consideration so they have come back with a rather sizeable (but workable) shortfall.


It just seems that they’re being really tough at the moment, particularly around SE & Ltd

We are a ltd company business grew through covid never stopped working, we were declined then went to appeal, we have an offer now after 12 weeks, subject to valuation, offer was £29k under. We’ve made it work. Praying they don’t retract or change their minds. 

mowgliisaG

I do not think they will retract once offered unless something credit related...

85c

mowgliisaG said:

I do not think they will retract once offered unless something credit related...

Awww thank you, my husband said the same, because we went to appeal they’ve literally been through everything with fine tooth comb, credit ratings are excellent and no debt. 

mowgliisaG

85c said:

mowgliisaG said:

I do not think they will retract once offered unless something credit related...

Awww thank you, my husband said the same, because we went to appeal they’ve literally been through everything with fine tooth comb, credit ratings are excellent and no debt. 

Excatly...they have plenty more to do then go over their old offers...unless something major has changed I very much doubt they will retract. 

85c

mowgliisaG said:

No 85c said:

mowgliisaG said:

I do not think they will retract once offered unless something credit related...

Awww thank you, my husband said the same, because we went to appeal they’ve literally been through everything with fine tooth comb, credit ratings are excellent and no debt. 

Excatly...they have plenty more to do then go over their old offers...unless something major has changed I very much doubt they will retract. 

My husband said the same, but hearing it from others who have been through the process really helps. 

Jimwaz18

Quick update on the valuation. My MB just txt saying valuation has been agreed for the full amount which was a desk top. Happy days 😁 I also think with Santander you get a free valuation which is attracting us all haha clogging up the system, who knows could be wrong 🤷‍♂️

NatNat77

85c I think given your offer was for less than you asked (was it 15k?) I think any down valuation would have to be for more than that for it to affect your offer, wouldn't it? I'm not sure what your LTV is though x