Santander mortgage timeline

85c

anxioussquirrel said:

Our application was sent by the broker on the 17/12. 
In our case they started with the valuation / surveyor I think because it's a complicated property (commercial to residential). We haven't been updated with anything on how that went but since then they also started looking at us and requested additional information on the 07/01 - about partner's shift allowance and my furlough. We were able to provide it on the 12/01 and haven't heard since. That will be two weeks tomorrow. My letter from my employer didn't specify my return to work date, just that I'm going to be on furlough until it ends in April so I'm not sure whether my income will count at all or not. 

But I filled in the Santander intermediary affordability calculator a gazillion times with all sorts of ridiculous numbers calculating with my income as zero and underestimating his in all sorts of ways and it comes back as affordable most of the time. Even on the few times it came back as under, it still covers the amount we need in case of a 5 year fixed rate which is what we applied for. The money we want lent is just 2.7x more than my partner's annual income. If you do count mine in, it's not even 2x combined. We have no children, no debt, no credit cards, car finance, nothing. The only thing we have is the current mortgage because we are not selling our current place yet - but it's a small amount. 

But because of all these stories about Santander being funny with shift allowances (and because of my furlough), I'm really scared it will be coming under as well for us and we have to stretch further or just give up. It makes it extra painful that the dream house is close by and we go past it frequently. There is this sense of limbo and anxious anticipation all the time and it's been going on since July because we applied with another lender before (who picked up on the things with the property) so I don't think I'm being impatient or entitled just because I want a reward now for waiting long enough. I want to be able to make plans, pack stuff, get organised, the waiting and the uncertainty just drives me nuts  

I really feel for u it’s just awful. We have no debt, excellent credit rating, business grew through COVID, our aip meant we could’ve borrowed an extra 100k, 20% deposit, and we were declined after 8.5 weeks, but for no reason. Went to appeal because Santander business manager stepped In with broker and said we shouldn’t have been and she took it to her boss. We did get an offer but £29k under. I really hope u hear soon. Good luck. 

85c

LP_London said:

85c said:

LP_London said:

85c said:

D09 said:

85c said:

D09 said:

Hello everyone 

just want to find out if anyone could help 

we applied on 25/11
valuation-30/11
valuation came fine. 

Request more documents on 8/1/2021
Submited on 08/01
 Requested more documents on 21/01
submitted on 21/01

do we have to wait again for the long que ?

Unfortunately yes, what ever the que currently is, 5 days, 8 days etc. 

This is so frustrating.

Our seller is about to pull off if we don’t get anything this week. 

The only thing u can do is ask your solicitor to write a letter and state they will pull out. But some refuse. Or u can bluff say u have your offer subject to valuation. We did that. It was a risk but we had no choice. Also if they pull out good luck to them starting all over again, everyone is in the same boat with waiting for mortgage offers. 

Hi 85c
Did you get the mortgage approval by Santander in the end ? 

We finally did, after a decline 8.5 weeks in, we then got an offer after appeal 4 weeks later, had our official offer 2 weeks ago. It was £29k under no reason why but we’ve made it work. Thank u for asking. 

I rate you for appealing and winning your case. They declined us after 3 months of wait. Luckily we found a new, strong and experienced broker that audited our case line by line, and we had to change things up, converted into BTL application. Applied with Barclays, offered within 2 days, subject to valuation. Valuation carried out today, formal written offer received 3 hours ago. Now we will break my current residential mortgage contract with Santander and remortgage with another lender to raise additional capital. I would have stayed with Santander but they said minimum 8 weeks wait (shocking), so I’m walking away from them completely. 

I have to say, Santander has been absolutely appalling to so many people, and they consider themselves to be top 5 largest bank & lender in UK? Covid-19 is no excuse for such lengthy delays and poor service, it’s been like playing table tennis with them (asking for various docs once every two weeks and their lack of clarity), and no I’m not just having a moan because we got declined and experienced poor service, but for so many others out there. Santander should have adapted, brought in more personnel to go through their so-called ‘backlog’ cases!  

You really are right. Oh how awful. So stressful. I don’t rate our MB either, we found a new one to use if we didn’t win appeal. Until we’ve completed I won’t relax though. 

moxxey

85c said:

LP_London said:

85c said:

LP_London said:

85c said:

D09 said:

85c said:

D09 said:

Hello everyone 

just want to find out if anyone could help 

we applied on 25/11
valuation-30/11
valuation came fine. 

Request more documents on 8/1/2021
Submited on 08/01
 Requested more documents on 21/01
submitted on 21/01

do we have to wait again for the long que ?

Unfortunately yes, what ever the que currently is, 5 days, 8 days etc. 

This is so frustrating.

Our seller is about to pull off if we don’t get anything this week. 

The only thing u can do is ask your solicitor to write a letter and state they will pull out. But some refuse. Or u can bluff say u have your offer subject to valuation. We did that. It was a risk but we had no choice. Also if they pull out good luck to them starting all over again, everyone is in the same boat with waiting for mortgage offers. 

Hi 85c
Did you get the mortgage approval by Santander in the end ? 

We finally did, after a decline 8.5 weeks in, we then got an offer after appeal 4 weeks later, had our official offer 2 weeks ago. It was £29k under no reason why but we’ve made it work. Thank u for asking. 

I rate you for appealing and winning your case. They declined us after 3 months of wait. Luckily we found a new, strong and experienced broker that audited our case line by line, and we had to change things up, converted into BTL application. Applied with Barclays, offered within 2 days, subject to valuation. Valuation carried out today, formal written offer received 3 hours ago. Now we will break my current residential mortgage contract with Santander and remortgage with another lender to raise additional capital. I would have stayed with Santander but they said minimum 8 weeks wait (shocking), so I’m walking away from them completely. 

I have to say, Santander has been absolutely appalling to so many people, and they consider themselves to be top 5 largest bank & lender in UK? Covid-19 is no excuse for such lengthy delays and poor service, it’s been like playing table tennis with them (asking for various docs once every two weeks and their lack of clarity), and no I’m not just having a moan because we got declined and experienced poor service, but for so many others out there. Santander should have adapted, brought in more personnel to go through their so-called ‘backlog’ cases!  

You really are right. Oh how awful. So stressful. I don’t rate our MB either, we found a new one to use if we didn’t win appeal. Until we’ve completed I won’t relax though. 

Nor me. Incredibly, despite Santander now quoting 6 days for under writer turnaround, my broker told me this evening he still expects the full 8 working days and that we won't hear until Friday about my mortgage offer. They are still at 18 January in their current queue, as at 26 January.

I'm still perplexed why accepting their offer needs to go in to another queue. Surely they can develop a system where if an offer is made and the customer accepts, it doesn't go back in to their queue and is moved in to an alternative fast-track system where the offer is immediately processed.

Totally understand long under writing delays where they have to carefully look at an application, but perplexed if this results in an offer you can't just accept and progress.

85c

moxxey said:

85c said:

LP_London said:

85c said:

LP_London said:

85c said:

D09 said:

85c said:

D09 said:

Hello everyone 

just want to find out if anyone could help 

we applied on 25/11
valuation-30/11
valuation came fine. 

Request more documents on 8/1/2021
Submited on 08/01
 Requested more documents on 21/01
submitted on 21/01

do we have to wait again for the long que ?

Unfortunately yes, what ever the que currently is, 5 days, 8 days etc. 

This is so frustrating.

Our seller is about to pull off if we don’t get anything this week. 

The only thing u can do is ask your solicitor to write a letter and state they will pull out. But some refuse. Or u can bluff say u have your offer subject to valuation. We did that. It was a risk but we had no choice. Also if they pull out good luck to them starting all over again, everyone is in the same boat with waiting for mortgage offers. 

Hi 85c
Did you get the mortgage approval by Santander in the end ? 

We finally did, after a decline 8.5 weeks in, we then got an offer after appeal 4 weeks later, had our official offer 2 weeks ago. It was £29k under no reason why but we’ve made it work. Thank u for asking. 

I rate you for appealing and winning your case. They declined us after 3 months of wait. Luckily we found a new, strong and experienced broker that audited our case line by line, and we had to change things up, converted into BTL application. Applied with Barclays, offered within 2 days, subject to valuation. Valuation carried out today, formal written offer received 3 hours ago. Now we will break my current residential mortgage contract with Santander and remortgage with another lender to raise additional capital. I would have stayed with Santander but they said minimum 8 weeks wait (shocking), so I’m walking away from them completely. 

I have to say, Santander has been absolutely appalling to so many people, and they consider themselves to be top 5 largest bank & lender in UK? Covid-19 is no excuse for such lengthy delays and poor service, it’s been like playing table tennis with them (asking for various docs once every two weeks and their lack of clarity), and no I’m not just having a moan because we got declined and experienced poor service, but for so many others out there. Santander should have adapted, brought in more personnel to go through their so-called ‘backlog’ cases!  

You really are right. Oh how awful. So stressful. I don’t rate our MB either, we found a new one to use if we didn’t win appeal. Until we’ve completed I won’t relax though. 

Nor me. Incredibly, despite Santander now quoting 6 days for under writer turnaround, my broker told me this evening he still expects the full 8 working days and that we won't hear until Friday about my mortgage offer. They are still at 18 January in their current queue, as at 26 January.

I'm still perplexed why accepting their offer needs to go in to another queue. Surely they can develop a system where if an offer is made and the customer accepts, it doesn't go back in to their queue and is moved in to an alternative fast-track system where the offer is immediately processed.

Totally understand long under writing delays where they have to carefully look at an application, but perplexed if this results in an offer you can't just accept and progress.

It is ridiculous! How many days in are u now? 

123maryb

All requested info went back 19th.Still not heard anything.

NewApplicant

Guys, would you know how long it takes for santander to get the offer out? 
I submitted my app on wed 13/01. searches were done straight away and valuation booked for the Monday 18/01.
Report came back with valuation 160k less than agreed price. I accepted the new valuation (just so I can check the valuation report, otherwise you dont have access to it). went to the UW on the 21/01 and no news since.. do You know how long this is supposed to take?   

NewApplicant

I remember my previous application from a year ago took like 2 days from app to offer. though it was with halifax 

moxxey

NewApplicant said:

Guys, would you know how long it takes for santander to get the offer out? 
I submitted my app on wed 13/01. searches were done straight away and valuation booked for the Monday 18/01.
Report came back with valuation 160k less than agreed price. I accepted the new valuation (just so I can check the valuation report, otherwise you dont have access to it). went to the UW on the 21/01 and no news since.. do You know how long this is supposed to take?   

£160K less? As in the house valuation? How is that possible? Even a £1 million house would rarely be devalued by £160,000!

As for the offer timeline, have you read through the previous pages in this discussion? Takes weeks! I submitted mine on 12/12 and still waiting.

85c

NewApplicant said:

Guys, would you know how long it takes for santander to get the offer out? 
I submitted my app on wed 13/01. searches were done straight away and valuation booked for the Monday 18/01.
Report came back with valuation 160k less than agreed price. I accepted the new valuation (just so I can check the valuation report, otherwise you dont have access to it). went to the UW on the 21/01 and no news since.. do You know how long this is supposed to take?   

So sorry but how long is a piece of string. There is no time frame really. It will be once they approve your mortgage. Ours took 12 weeks, but we are SE, if your self employed you will be looking at 8-12 weeks. 

NewApplicant

moxxey said:

NewApplicant said:

Guys, would you know how long it takes for santander to get the offer out? 
I submitted my app on wed 13/01. searches were done straight away and valuation booked for the Monday 18/01.
Report came back with valuation 160k less than agreed price. I accepted the new valuation (just so I can check the valuation report, otherwise you dont have access to it). went to the UW on the 21/01 and no news since.. do You know how long this is supposed to take?   

£160K less? As in the house valuation? How is that possible? Even a £1 million house would rarely be devalued by £160,000!

As for the offer timeline, have you read through the previous pages in this discussion? Takes weeks! I submitted mine on 12/12 and still waiting.

The offer I put in was for 1.15m. Valuation came back for 990k
Dont understand how they did it to be honest, I could see the house next door was sold 3 years ago for 1.4m... thats why I want to check the valuation report. 
I was hoping mortgage would be for 850k but I can try to make the 735k work (if the vendor drops the price a bit). 
But not sure to be honest if a downvaluation could trigger a mortgage to be rejected.