Santander mortgage timeline

Cookie211

lsim88 said:

Cookie211 said:

well the seller has taken the house off the market 😭😭😭 we have been approved the full mortgage so just got to find another bloody house now, every estate agent I’m ringing for a viewing,the houses have just been sold 😭😭 don’t know whether to laugh or cry 😢 

Sorry to hear this! When you find another property will you have to go through the application process again as they instruct the valuation on the property etc? 

Hi we have till September to find another property then we don’t have to go bk to the underwriters the house will just need a valuation, thank god 

peacetrustlove

Cookie211 said:

well the seller has taken the house off the market 😭😭😭 we have been approved the full mortgage so just got to find another bloody house now, every estate agent I’m ringing for a viewing,the houses have just been sold 😭😭 don’t know whether to laugh or cry 😢 

That’s just sad mate. After all that waiting, for the seller to do that. I have a feeling I’m close to sailing in the same ship. My vendors are getting impatient now. Hopefully Santander gets it’s act together now and the offer comes through soon for us. 

Cookie211

peacetrustlove said:

Cookie211 said:

well the seller has taken the house off the market 😭😭😭 we have been approved the full mortgage so just got to find another bloody house now, every estate agent I’m ringing for a viewing,the houses have just been sold 😭😭 don’t know whether to laugh or cry 😢 

That’s just sad mate. After all that waiting, for the seller to do that. I have a feeling I’m close to sailing in the same ship. My vendors are getting impatient now. Hopefully Santander gets it’s act together now and the offer comes through soon for us. 

Fingers crossed for u, just a pain they shouldn’t be aloud to change there minds lol

Rowethren

I do feel the system Scotland uses has significant advantages. Making it legally binding from the get go and having the seller do a survey that everyone can look at sounds like a dream! 

Pepod

FtbEmz said:

Have you gone through a mortgage advisor? Ours was a pretty straightforward application. The place we’re buying is vacant, we have no chain, both have good credit scores and our mortgage advisor asked for lots of documents before submitting our application. Our timeline from what we’ve received today is as follows:

08/04 application received and valuation instructed. Santander also requested documents the same day (doesn’t say what documents but our advisor had all he needed to pass to them straight away)

12/04 Passed to underwriters and valuation booked for 26/4

13/04 Underwriter agreed mortgage and mortgage emailed to confirm mortgage approved subject to valuation. The agreed price is in line with other similar properties so I have no concerns regarding that

Yeah we are through a broker - they are keeping us up to date and Santander have the valuation report and it waiting to be assessed, but as far as I know they haven't asked for documents yet (maybe they have and it just hasn't been mentioned to us, as the broker has them all ready to go?) so it seems to be at odds with the likes of yourself whereby everything is nearly sorted by the time the valuation is done.

lsim88

I’ve just spoke to my broker and she said Santander are working a backlog so could be a while before they get around to us 🙄

FtbEmz

Pepod said:

FtbEmz said:

Have you gone through a mortgage advisor? Ours was a pretty straightforward application. The place we’re buying is vacant, we have no chain, both have good credit scores and our mortgage advisor asked for lots of documents before submitting our application. Our timeline from what we’ve received today is as follows:

08/04 application received and valuation instructed. Santander also requested documents the same day (doesn’t say what documents but our advisor had all he needed to pass to them straight away)

12/04 Passed to underwriters and valuation booked for 26/4

13/04 Underwriter agreed mortgage and mortgage emailed to confirm mortgage approved subject to valuation. The agreed price is in line with other similar properties so I have no concerns regarding that

Yeah we are through a broker - they are keeping us up to date and Santander have the valuation report and it waiting to be assessed, but as far as I know they haven't asked for documents yet (maybe they have and it just hasn't been mentioned to us, as the broker has them all ready to go?) so it seems to be at odds with the likes of yourself whereby everything is nearly sorted by the time the valuation is done.

That’s frustrating. I hope things start to move quicker for you. 

curiousalways

Has any one here being a self employed dual application mortgage got a rejection from lender.
my broker told me if we put 25 percent deposit than the chances are 99 percent, after 3 days I got a call from him saying bank needs to see the latest 3 months business statements and if we have taken business grants and if there is no transaction than they might reject the application, but at the same time they took certificate from our accountant at the start of application and now they are asking for projection report for both companies and bank statements.
Unfortunately we have took business grants and were on furlough too, but why will they not approve by looking at the latest company figures.

Has anyone come across this situation if yes was mortgage rejected or approved.

Thank you very much  

FtbEmz

curiousalways said:

Has any one here being a self employed dual application mortgage got a rejection from lender.
my broker told me if we put 25 percent deposit than the chances are 99 percent, after 3 days I got a call from him saying bank needs to see the latest 3 months business statements and if we have taken business grants and if there is no transaction than they might reject the application, but at the same time they took certificate from our accountant at the start of application and now they are asking for projection report for both companies and bank statements.
Unfortunately we have took business grants and were on furlough too, but why will they not approve by looking at the latest company figures.

Has anyone come across this situation if yes was mortgage rejected or approved.

Thank you very much  

Hi, our application is joint self employed. My husband is 100% self employed. I’m employed through PAYE and self employed. Our mortgage advisor submitted our application on the 8th April - he had all our documents before hand (2 years HMRC tax calculations & overviews, along with my PAYE payslips and lots of other docs he asked for). We’ve put down a 25% deposit and our application was approved subject to valuation today. I really do think it comes down to having a mortgage advisor who is on the ball and has experience as ours asked for all these documents upfront and was able to answer the queries Santander had without having to come to us. We weren’t affected by COVID and weren’t furloughed nor have we taken any grants so not sure if that makes a difference!

Bob456

peacetrustlove said:

I think Santander is just winding me up now.

24/02 DIP

24/02 Experian Soft Check

02/03 Full Application

05/03 Valuation Instructed

11/03 Desktop Valuation 

15/03 Documents Requested

16/03 Documents Submitted by MA

16/03 Experian Hard Check

18/03 Internal Valuation Instructed

23/03 Internal Valuation Completed

25/03 Valuation Report Received

30/03 Existing property query. Back to queue. 

31/03 Tax Overview for previous 2 years and 3 months Business Statements requested. Back to queue. 

01/04 Personal bank statement for March 2021 requested. Back to underwriters queue

02/04 Proof of overseas income requested. Back to queue

07/04 Accountant Signature in pen rather than an electronic signature. Back to queue

12/04 Hard credit check number 2
13/04 Silly questions, back to queue

Seems like being self-employed is a crime in this country. Not a lot of support from the government or the banks either

It’s true it take 3 months do similar process, but finally they approved our mortgage.