Santander mortgage timeline

Ilt123

Had our valuation today and we have recieved an email from santander saying our mortgage has been offered!! Soo exciting!!

Good luck everyone!!

Cookie211

Ilt123 said:

Had our valuation today and we have recieved an email from santander saying our mortgage has been offered!! Soo exciting!!

Good luck everyone!!

Congratulations 🎉 was it a desktop or full valuation 

dj1471

My mortgage offer is in the post so thought I’d share my timeline in case it’s helpful. Straightforward application (no self employment or furlough etc), LTV around 55%, direct not via broker.

26 April 2021 - application submitted

27 April 2021 - valuation instructed (desktop)

29 April 2021 - sent to underwriters

5 May 2021 - mortgage offer issued

10 days from application to offer, helped greatly by the fact they’re working weekends and bank holidays!

Cookie211

dj1471 said:

My mortgage offer is in the post so thought I’d share my timeline in case it’s helpful. Straightforward application (no self employment or furlough etc), LTV around 55%, direct not via broker.

26 April 2021 - application submitted

27 April 2021 - valuation instructed (desktop)

29 April 2021 - sent to underwriters

5 May 2021 - mortgage offer issued

10 days from application to offer, helped greatly by the fact they’re working weekends and bank holidays!

Congratulations 🎉 

Ilt123

Cookie211 said:

Ilt123 said:

Had our valuation today and we have recieved an email from santander saying our mortgage has been offered!! Soo exciting!!

Good luck everyone!!

Congratulations 🎉 was it a desktop or full valuation 

It was a full valuation, I was suprised by how quick they responded. I recieved the email first then our MA contacted us an hour later.

Cookie211

Ilt123 said:

Cookie211 said:

Ilt123 said:

Had our valuation today and we have recieved an email from santander saying our mortgage has been offered!! Soo exciting!!

Good luck everyone!!

Congratulations 🎉 was it a desktop or full valuation 

It was a full valuation, I was suprised by how quick they responded. I recieved the email first then our MA contacted us an hour later.

Amazing congratulations again 🎉

iSt2018

Wow,  what a long process for myself.

22/3 - DIP offer accepted 
8/4 -  full application 
14/4 - more info requested re self employment and Covid

Between 15/4 and 30/4 more paperwork from accountant re-requested

5/4 -  paperwork approved and with final underwriter? 

Had anyone ever been sent for final underwriting due to being with underwriting too often?    Is the a positive?  

I’ve ran everything alongside so I’m actually ready to exchange as soon as I hear from Santander? 
 

ubayd95

iSt2018 said:

Wow,  what a long process for myself.

22/3 - DIP offer accepted 
8/4 -  full application 
14/4 - more info requested re self employment and Covid

Between 15/4 and 30/4 more paperwork from accountant re-requested

5/4 -  paperwork approved and with final underwriter? 

Had anyone ever been sent for final underwriting due to being with underwriting too often?    Is the a positive?  

I’ve ran everything alongside so I’m actually ready to exchange as soon as I hear from Santander? 
 

So you're solicitor has carried out searches and stuff already? Raised enquiries, draft contracts signed etc?

iSt2018

ubayd95 said:

iSt2018 said:

Wow,  what a long process for myself.

22/3 - DIP offer accepted 
8/4 -  full application 
14/4 - more info requested re self employment and Covid

Between 15/4 and 30/4 more paperwork from accountant re-requested

5/4 -  paperwork approved and with final underwriter? 

Had anyone ever been sent for final underwriting due to being with underwriting too often?    Is the a positive?  

I’ve ran everything alongside so I’m actually ready to exchange as soon as I hear from Santander? 
 

So you're solicitor has carried out searches and stuff already? Raised enquiries, draft contracts signed etc?

I’m at a point ready to sign yes.    I ran them alongside each other rather than treating it as 2 separate things but the solicitors have been much quicker than the bank.     Final Underwriting is all that I’m waiting for apparently,  just wondered if anyone else had experienced that?

ubayd95

Has anyone completed on a leasehold flat with Santander? 
I know leasehold transactions take slightly longer due the extra paperwork etc.
My solicitor got the sales memorandum yesterday and will request the contract pack from the sellers solicitors today.
As there is no chain on either side is 8-10 weeks a reasonable time frame for completion?
(Also there is no ground rent (peppercorn) or service charge and has over 900 years of lease remaining) will I have to arrange my own buildings insurance?