Santander mortgage timeline

peacetrustlove

Bob456 said:

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.

Congrats to you 👏🏻👏🏻👏🏻

peacetrustlove

FtbEmz said:

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!

We have 40% deposit and they’re still fooling around with us. Don’t understand how they work. Guess it’s down to a good MA. Mine is just vague and never responds to my emails calls or texts. Such a bad experience. 

Rowethren

peacetrustlove said:

FtbEmz said:

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!

We have 40% deposit and they’re still fooling around with us. Don’t understand how they work. Guess it’s down to a good MA. Mine is just vague and never responds to my emails calls or texts. Such a bad experience. 

If it makes you feel any better, our first MA was an idiot. He assessed our situation in early February and said we were good to start looking for houses. We spent the last few months viewing and finally had an offer accepted on a house 2 weeks ago so he started to hunt for specific deals.

Last Tuesday (after a horrible bank holiday wait) they suddenly turned around and said they couldn't help us and we were unlikely to get a mortgage. The sellers relisted the property whilst we furiously called banks and and other MA to fix the situation. Thankfully we managed to find another one who actually had a brain and we had our new application in just in time to stop any new viewing (a matter of hours). It turned out okay in the end but I think last week might have been the most stressful week of my life!

What really demonstrated the stupidity of our first MA is the fact the second one got us an offer in 2 days. What the hell was the first one smoking? 

lsim88

I guess they’re cracking on today as the service levels have been updated! 

Tq91

Hello,
First time poster here but getting so fustrated now and glad to see a thread on Santander.
Originally made mortgage application online with them on 22nd Feb. All went through mortgage offered pending valuation.
Valuation was lower than property price (by 10k) so we negotiated with the sellers who accepted less (5k less) and then put 5k more of our savings down.
Had to go through a whole other phone appointment with the mortgage advisor at this point so she could re submit it all.
That was all fine, within a few days mortgage offer approved and sent to us and our solicitor.
Got the offer... and it was wrong!! It was with the original property price and borrowing amount.. not the now 10k less that we needed to borrow. This was Thursday just before bank holiday weekend, called us, was told it was a complete mistake, they would change it and fax it to solicitor asap.
Since then... absolutely nothing. Rang up multiple times, no one can tell me an update. What else can I do? 
Sorry for the essay!

peacetrustlove

Tq91 said:

Hello,
First time poster here but getting so fustrated now and glad to see a thread on Santander.
Originally made mortgage application online with them on 22nd Feb. All went through mortgage offered pending valuation.
Valuation was lower than property price (by 10k) so we negotiated with the sellers who accepted less (5k less) and then put 5k more of our savings down.
Had to go through a whole other phone appointment with the mortgage advisor at this point so she could re submit it all.
That was all fine, within a few days mortgage offer approved and sent to us and our solicitor.
Got the offer... and it was wrong!! It was with the original property price and borrowing amount.. not the now 10k less that we needed to borrow. This was Thursday just before bank holiday weekend, called us, was told it was a complete mistake, they would change it and fax it to solicitor asap.
Since then... absolutely nothing. Rang up multiple times, no one can tell me an update. What else can I do? 
Sorry for the essay!

Santander are lagging severely since the Easter weekend. I had to wait working 5 days to get a response for a document sent last week on Wednesday. 🤞 

funky1471

Just had our address/ID verification letters through which they had sent on 7th April (Must be a delay with Royal Mail). So the last thing we need now is the valuation as everything else is sorted and approved.

That's not too bad a 1 week turnaround time so far, just hope this valuation will be boxed off before the end of the week - Submitting our local searches so that and the contents/fittings paperwork from the seller is our next target whilst we wait for the valuation result. 🤞 Hoping we'll be completing in June to save on the stamp duty since there's only 2 sellers in the chain (and we're one of them)

funky1471

Tq91 said:

Hello,
First time poster here but getting so fustrated now and glad to see a thread on Santander.
Originally made mortgage application online with them on 22nd Feb. All went through mortgage offered pending valuation.
Valuation was lower than property price (by 10k) so we negotiated with the sellers who accepted less (5k less) and then put 5k more of our savings down.
Had to go through a whole other phone appointment with the mortgage advisor at this point so she could re submit it all.
That was all fine, within a few days mortgage offer approved and sent to us and our solicitor.
Got the offer... and it was wrong!! It was with the original property price and borrowing amount.. not the now 10k less that we needed to borrow. This was Thursday just before bank holiday weekend, called us, was told it was a complete mistake, they would change it and fax it to solicitor asap.
Since then... absolutely nothing. Rang up multiple times, no one can tell me an update. What else can I do? 
Sorry for the essay!

Sorry to hear about the problems you're having. I don't think there's much you can do except keep hassling them unfortunately - Make sure you agree timescales for everything whenever you speak to them, even if it's just a time when you'll next call them for an update.

With how busy things are at the minute I think (politely) hassling people, even if it feels like you might be annoying them slightly is all anybody can do.

Cookie211

well I lost the house😭😭😭 stupid bloody vender, now on the hunt for a new house hopefully the next one will be better, hopefully got one coming up as I rang estate agent and it’s not on market yet so I get first viewing 🤞🤞🤞🤞

031192vy353

Cookie211 said:

well I lost the house😭😭😭 stupid bloody vender, now on the hunt for a new house hopefully the next one will be better, hopefully got one coming up as I rang estate agent and it’s not on market yet so I get first viewing 🤞🤞🤞🤞

So sorry after everything and the wait you had also! Bloody nightmare. Who ever said house hunting was fun was lying! This has been the most stressful time of my life. Fingers crossed something better comes up for you 🤞