Santander mortgage timeline

K_S

Katemb94 said:

Good Evening All,
We had our formal offer back in November and exchanged first week of December
Due to complete in 11 days but I've seen horror stories of Santander pulling mortgages after exchange.
We sold our house in December and moved into rented to not loose our buyer until our new home is built and cancelled electricity DD and was going to pay final bill on different debit card. I stupidly didn't update details and forgot and missed payment which is now showing on my experian. (Bill paid straight after I notice) but I'm so nervous they are gonna pull it 
Or am I being silly
Since seen some comments on here that santander has pulled formal offer.
Thank you 

@katemb94 With only 3 months between offer and completion, I wouldn't expect the lender to "refresh" the credit check.

Harry1986

Harry1986 said:

Hi, 
I started re-mortgage application and time frame is below:

08/01/2021-AIP
11/01/2021-Mortgage advisor chat
25/01/2021- submitted for underwriter

This was delayed due to credit check showing my credit card still owes money while i clear my credit card every month which i have provided evidence for Nov, Dec, and Jan before it went to underwriter.
Mortgage advisor said this has gone to underwriter as an appeal as i believe automatic underwriting system rejected application.
What are the chances that based on evidence the application will be approved?
Current wait time is 5 days - but we are on 29/01/2021 and they only reviewing 21/01 how come that is 5 days.

hi,
Original application went in on 25/01- currently reviewing from 27/01
Still we havent had any updates.
When phoned they said it is with underwriter but online status hasnt been updated from appointment booked to next step.
Does anyone have similar case?

85c

Harry1986 said:

Harry1986 said:

Hi, 
I started re-mortgage application and time frame is below:

08/01/2021-AIP
11/01/2021-Mortgage advisor chat
25/01/2021- submitted for underwriter

This was delayed due to credit check showing my credit card still owes money while i clear my credit card every month which i have provided evidence for Nov, Dec, and Jan before it went to underwriter.
Mortgage advisor said this has gone to underwriter as an appeal as i believe automatic underwriting system rejected application.
What are the chances that based on evidence the application will be approved?
Current wait time is 5 days - but we are on 29/01/2021 and they only reviewing 21/01 how come that is 5 days.

hi,
Original application went in on 25/01- currently reviewing from 27/01
Still we havent had any updates.
When phoned they said it is with underwriter but online status hasnt been updated from appointment booked to next step.
Does anyone have similar case?

We were declined because they mis read our accounts and didn’t think we’d been trading for over 2 years, it went to appeal and we were approved. It does take ages though. But I think u will be fine. 

Woowar99

On my Experian Credit Report, Santander have done a hard search 3 times. Once on the 4th Jan, 25th Jan and 29th Jan, is this normal?

We've been approved, just waiting on Santander valuing the house which should be okay. 

mylocrisis

scoey8 said:

Does anyone know Santanders criteria for defaults? We are looking for remortgage at 60 LTV but have a 5 year old mobile phone default for less than £100. Currently with an adverse lender as there was 3 more defaults but these have now dropped off. Thanks 

I don't know the criteria, but I am going through a broker. I had a default, well it doesn't show as a default but a s 3 missed/late payments on a credit card 2 years ago. - All been up to date since then. I had an AIP from Santander for a decent amount, I asked for 4x income and believe I could have asked for more, but the rate got worse the more I request, and I only need 4x.

I found a property and made an offer based on AIP
Formal mortgage application went to Santander via my broker 29th Jan. - I received a text and an email from Santander saying they had received the application. 
I checked Experian and can see a soft check was done early last week, presumably for the AIP and the a hard search was done on 29th Jan, the formal application. - Awaiting update. - Salaried job, not affected by COVID.

Nickiw116

Does anyone know the wait time now once answers to questions have been passed back to the underwriter ?
partner is self employed so we are on our 3rd round of questions and stress is becoming unbearable. The property we offered on in December chose us over a builder who was a cash buyer- I’m sure they are regretting that now. Has anyone got any positive self employed feedback ?!

85c

Nickiw116 said:

Does anyone know the wait time now once answers to questions have been passed back to the underwriter ?
partner is self employed so we are on our 3rd round of questions and stress is becoming unbearable. The property we offered on in December chose us over a builder who was a cash buyer- I’m sure they are regretting that now. Has anyone got any positive self employed feedback ?!

Are you employed? If u go on website it will tell u the wait, usually between 5 & 7 working days. 

D09

Nickiw116 said:

Does anyone know the wait time now once answers to questions have been passed back to the underwriter ?
partner is self employed so we are on our 3rd round of questions and stress is becoming unbearable. The property we offered on in December chose us over a builder who was a cash buyer- I’m sure they are regretting that now. Has anyone got any positive self employed feedback ?!

It’s 4 days que at the moment. We are in the similar situation wife is self Employed and husband is employed. We are on 4th round of question. 

Nickiw116

85c said:

Nickiw116 said:

Does anyone know the wait time now once answers to questions have been passed back to the underwriter ?
partner is self employed so we are on our 3rd round of questions and stress is becoming unbearable. The property we offered on in December chose us over a builder who was a cash buyer- I’m sure they are regretting that now. Has anyone got any positive self employed feedback ?!

Are you employed? If u go on website it will tell u the wait, usually between 5 & 7 working days. 

No I’m not, I’m thinking I should have left my name off the mortgage now ! But it’s my money for the deposit as I’ve recently sold a property.

85c

Nickiw116 said:

85c said:

Nickiw116 said:

Does anyone know the wait time now once answers to questions have been passed back to the underwriter ?
partner is self employed so we are on our 3rd round of questions and stress is becoming unbearable. The property we offered on in December chose us over a builder who was a cash buyer- I’m sure they are regretting that now. Has anyone got any positive self employed feedback ?!

Are you employed? If u go on website it will tell u the wait, usually between 5 & 7 working days. 

No I’m not, I’m thinking I should have left my name off the mortgage now ! But it’s my money for the deposit as I’ve recently sold a property.

Are you self employed? We are both se. Your looking at around 8 weeks. They are so strict witn se, they just go through everything with a fine tooth comb. It’s slow but u will get there.