Santander mortgage timeline

Cookie211

ubayd95 said:

Hi all,

Interesting thread, so many mixed processes going on.

I had to change the property I was initially going for as the EWS1 came back as B2 and no bank will lend on such.

I had my mortgage broker change the property via a substitute property form on the 13th of April (a week today).

Yesterday I was told the case was back at underwriters due to increases borrowing (10,000 extra).

Does anyone know how long they will take to agree it all and instruct the survey?

Hi sorry I don’t know but we are going through a similar situation, our seller pulled out and there is no houses available with our mortgage agreement,we have a viewing tonight but it’s a extra £40,000, if we fall in love with the house then we will have to go bk to the underwriters to see if they would lend us the extra, can’t believe how fast houses are selling and going way over the asking price 

Jay_25

Hi all,

Came across this thread just after we applied for a mortgage, found it so helpful and reassuring.

We just got our mortgage offer today so thought I’d share our timeline.

Offer accepted: 24 March

DIP & Full Mortgage application: 2 April 

Valuation: 12th April 

Went to underwriters: 13th April 

Few questions and MA responded: 16th April 

Mortgage offer (email): 20th April 

Good luck everyone! 

Sierra_Juliette

Jay_25 said:

Hi all,

Came across this thread just after we applied for a mortgage, found it so helpful and reassuring.

We just got our mortgage offer today so thought I’d share our timeline.

Offer accepted: 24 March

DIP & Full Mortgage application: 2 April 

Valuation: 12th April 

Went to underwriters: 13th April 

Few questions and MA responded: 16th April 

Mortgage offer (email): 20th April 

Good luck everyone! 

Congratulations!!! 

We’ve just applied through a broker today and my nerves are shot lol

I’m not overly bothered about the decision as I can’t imagine we’ll be declined, it’s a pretty straightforward application. What I am a bit worried about is the valuation of the house. We are buying from a private seller and although the house is worth what we’ve agreed “to us” I worry that Santander will decide otherwise. Plus there was no previous valuation from an EA. 

I do know the area well and rented a few houses down for 10 years but I’m still not a surveyor 🙈

The waiting game has begun!

JamesN

I had the dip on Friday and a request for more docs yesterday which were sent and acknowledged. Said they’d call me in the next 4 days to sort the application. Most seem to be getting their application in quicker than this. We are applying online is that why it’s a bit slower?

ubayd95

Cookie211 said:

ubayd95 said:

Hi all,

Interesting thread, so many mixed processes going on.

I had to change the property I was initially going for as the EWS1 came back as B2 and no bank will lend on such.

I had my mortgage broker change the property via a substitute property form on the 13th of April (a week today).

Yesterday I was told the case was back at underwriters due to increases borrowing (10,000 extra).

Does anyone know how long they will take to agree it all and instruct the survey?

Hi sorry I don’t know but we are going through a similar situation, our seller pulled out and there is no houses available with our mortgage agreement,we have a viewing tonight but it’s a extra £40,000, if we fall in love with the house then we will have to go bk to the underwriters to see if they would lend us the extra, can’t believe how fast houses are selling and going way over the asking price 

Hi, 

I kind of know how that feels. My underwriting was done the first time round and everything checked out. Santander agreed to lend, but due to the fire safety I had to pull out.

I got hold of my MBs assistant today as he is off, and was told we should hear something tomorrow as it's been on the underwriters desk since Monday.

Guide price on the flat was 250-275k, I've gone in at 275k cause I really want it and have already wasted 3 months on the last property. I hope it doesn't get down valued for when it comes to the survey.

But speaking a lot of people, they have mentioned this should be fine. Property was recently decorated, with a nice bathroom and new carpets throughout.

031192vy353

Cookie211 said:

ubayd95 said:

Hi all,

Interesting thread, so many mixed processes going on.

I had to change the property I was initially going for as the EWS1 came back as B2 and no bank will lend on such.

I had my mortgage broker change the property via a substitute property form on the 13th of April (a week today).

Yesterday I was told the case was back at underwriters due to increases borrowing (10,000 extra).

Does anyone know how long they will take to agree it all and instruct the survey?

Hi sorry I don’t know but we are going through a similar situation, our seller pulled out and there is no houses available with our mortgage agreement,we have a viewing tonight but it’s a extra £40,000, if we fall in love with the house then we will have to go bk to the underwriters to see if they would lend us the extra, can’t believe how fast houses are selling and going way over the asking price 

Any luck yet with you guys finding a house?
I finally got the payslip I've been waiting on for 2 weeks, so waiting for it to be assessed then case will be reopened 🙏

Sierra_Juliette

Update for us:


20th April - application submitted
21st April - valuation instructed 

Hope it continues to move this fast 

ubayd95

I have still not heard anything yet! It was at the underwriters since Monday, nothing about a survey yet!

FtbEmz

Ah! Valuation was brought forward from the 26th to today and our mortgage broker has just called to say it’s been approved and it’s on its way to our solicitors! So excited!!

031192vy353

FtbEmz said:

Ah! Valuation was brought forward from the 26th to today and our mortgage broker has just called to say it’s been approved and it’s on its way to our solicitors! So excited!!

Congratulations brilliant news. What's your timeline been then