Santander mortgage timeline

[Deleted User]

Hi all
Got a remortgage in progress with santander,  valuation is booked for Monday, app submitted yesterday.  Do they underwrite prior to valuation or instruct valuation then underwrite.  It is 75% LTV and I was just curious why they wouldn't use a HPI as it looks like it is either a drive by.

samster1

I completed today
Dip 10/2/21
Full application 10/2/21
Valuation instructed 11/2/21
Approved by underwriters 20/2/21
Valuation carried out 3/3/21
Offer issued 3/3/21
Completed 12/3/21
I have been so stressed but santander have been amazing, I am now a home owner. 
My credit file wasn't perfect as I had settled loans with lots of missed payments but I settled it and got balance to zero 3 months ago. 

Santander never even mentioned them as I had a couple of years of good credit history on my credit cards etc. Keep the faith you will get there. 

#homeowner #lifeback on track 

binky21

Jumping on the bandwagon; we're just over a week into the process so far:

DIP: 04/03
Full application: 04/03
Valuation Instructed: 05/03
Valuation moved: 08/03
Queries raised (proof of salary arriving in bank account): 09/03
Queries responded: 09/03
Valuation carried out: 10/03
Queries raised (transactions on pages of bank statement mistaken for regular payments): 12/03
Queries responded: 12/03

Already sick of the entire thing and frustrated that it takes 72 working hours to review documents. Hopefully we'll hear back on Monday that the valuation was OK. Slightly concerned they're now going to ask for full bank statements, and I really can't be arsed to through that.

samster1

binky21 said:

Jumping on the bandwagon; we're just over a week into the process so far:

DIP: 04/03
Full application: 04/03
Valuation Instructed: 05/03
Valuation moved: 08/03
Queries raised (proof of salary arriving in bank account): 09/03
Queries responded: 09/03
Valuation carried out: 10/03
Queries raised (transactions on pages of bank statement mistaken for regular payments): 12/03
Queries responded: 12/03

Already sick of the entire thing and frustrated that it takes 72 working hours to review documents. Hopefully we'll hear back on Monday that the valuation was OK. Slightly concerned they're now going to ask for full bank statements, and I really can't be arsed to through that.

Hi 
A standard mortgage application usually takes 4 to 6 weeks to get an offer. You are well on track and close to getting an offer if the underwriter is happy. I think it looks like you could be well within the 4 weeks which is not long at all. Some banks are taking 16 weeks to produce an offer. 

Bob456

binky21 said:

Jumping on the bandwagon; we're just over a week into the process so far:

DIP: 04/03
Full application: 04/03
Valuation Instructed: 05/03
Valuation moved: 08/03
Queries raised (proof of salary arriving in bank account): 09/03
Queries responded: 09/03
Valuation carried out: 10/03
Queries raised (transactions on pages of bank statement mistaken for regular payments): 12/03
Queries responded: 12/03

Already sick of the entire thing and frustrated that it takes 72 working hours to review documents. Hopefully we'll hear back on Monday that the valuation was OK. Slightly concerned they're now going to ask for full bank statements, and I really can't be arsed to through that.

Compare to ours, you are in better position… if you applied some time October/November it should take minimum 20 to 25 working days to see your application by underwriter there after few more weeks to ask for more information. 

Bob456

Our timeline 

AIP & Full application submitted – 5/11/20

Valuation instructed 5/11/20

 Underwriter Queue 5/11/20

 Information/Doc Requested 9/11/20

 Back to Underwriter Queue 9/11/20

 More Information/Doc Requested 11/11/20

 Back to Underwriter Queue 13/11/20

 Valuation Received 13/11/20

 More Information/Doc Requested 10/12/20

 Back to Underwriter Queue 18/12/20

 More Information/Doc Requested 8/01/21

 Back to Underwriter Queue 12/01/21

 More Information/Doc Requested 20/01/21

 Back to Underwriter Queue 27/01/21

 Mortgage offer Issued 02/02/21

 Initial Exchange 26/2

 Completion delayed 10 days due to vendor’s packers & mover’s non-availability. Completing next week. 

Bob456

MickyT89 said:

First time poster, FTB in Scotland having a mare with my MB.  
Offer accepted - 17/2
Application submitted - 25/2 (MB went for one for a house rather than flat by mistake, therefore took a week)
MB advised agreed subject to receiving copy of valuation on 2/3 and then MB advised HR was accepted on 5/3 but haven't heard thing since and haven't received any documentation from Santander or them after asking apart from one text to confirm they received it on the 25/2. Is this normal? 

If your offer issued you should get text messages/email from Santander.

Firsttime2021

We are doing a commission purchase from my parents we are buying the house we rent off them. Taking the deposit from the lower amount they are prepared to sell at, valuation came in at 10k lower but still in the 85% LTV so all good there. I’ve been told it’s now in the priority queue for a decision. And told up to 48 hours for them to come to that decision.

this waiting is horrendous! 

peacetrustlove

I'm applying for a new mortgage after 14 years. I didn't imagine it would be so nerve-wracking. Here's our current progress. We are applying via MB  

• DIP 24/02/2021
• Full Application 02/03/2021
• Valuation Instructed 05/03/2021
• Desktop Valuation 11/03/2021
• Documents Requested 15/03/2021

I am self-employed and I have a slightly complex financial structure. Will keep you folks posted on the progress.

Firsttime2021

Our timeline as follows:

DIP: 24/2
Full application sent: 4/3
documents req: 093
valuation completed: 10/3
more documents requested 11/3 
valuation results received 11/3
ma advised mortgage application accepted and sent to processing centre15/3