Santander mortgage timeline

ubayd95

iSt2018 said:

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?

No I haven't come across final underwriting. That's good you got your area searches and stuff done at the same time. Usually they only begin with the contract and searches after an offer has been produced.

iSt2018

ubayd95 said:

iSt2018 said:

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?

No I haven't come across final underwriting. That's good you got your area searches and stuff done at the same time. Usually they only begin with the contract and searches after an offer has been produced.

My solicitors were happy to start as no chain on either side and the DIP alongside EA documents were enough to get them started.    Didn’t ever imagine that the bank would be longer than the legal process.    They’ve asked for more information but told I should hear today. 

iSt2018

Just to keep updated.   My offer was approved today at 1pm.    Final underwriting is when they have all info and are just collating when more than one person looked.  Apparently common particular with Self Employed.    Good luck everyone

Cookie211

iSt2018 said:

Just to keep updated.   My offer was approved today at 1pm.    Final underwriting is when they have all info and are just collating when more than one person looked.  Apparently common particular with Self Employed.    Good luck everyone

Congratulations 🥳 did u have a desktop or full valuation 

iSt2018

Cookie211 said:

iSt2018 said:

Just to keep updated.   My offer was approved today at 1pm.    Final underwriting is when they have all info and are just collating when more than one person looked.  Apparently common particular with Self Employed.    Good luck everyone

Congratulations 🥳 did u have a desktop or full valuation 

Thanks and it was Full last week

leanne2901

We heard back from our broker yesterday that it’s now been sent to the underwriter - where does this usually come in the process, underwriter then valuation? It’s been a long time since we moved 😂

Sierra_Juliette

leanne2901 said:

We heard back from our broker yesterday that it’s now been sent to the underwriter - where does this usually come in the process, underwriter then valuation? It’s been a long time since we moved 😂

Have you not been advised when your valuation is booked for? When did you apply? The two kind of run parallel to each other - you could be offered the mortgage pending valuation. Our valuation was instructed the day after application (20/04) and it was carried out on Wednesday (5/5). It’s back with the underwriters now as they had some things they wanted clarifying on my payslip - my employer calls holidays PTO (paid time off) which confused them a bit. 

leanne2901

Sierra_Juliette said:

leanne2901 said:

We heard back from our broker yesterday that it’s now been sent to the underwriter - where does this usually come in the process, underwriter then valuation? It’s been a long time since we moved 😂

Have you not been advised when your valuation is booked for? When did you apply? The two kind of run parallel to each other - you could be offered the mortgage pending valuation. Our valuation was instructed the day after application (20/04) and it was carried out on Wednesday (5/5). It’s back with the underwriters now as they had some things they wanted clarifying on my payslip - my employer calls holidays PTO (paid time off) which confused them a bit. 

Our broker hasn’t told us much - he is doing it for no charge as a hes a friend of a friend - and it’s been a disaster I really wish I’d just done myself!! We literally had a message Friday to say it had gone to the underwriters and now he’s off for the weekend so can’t ask about the valuation. More waiting!  

Cookie211

leanne2901 said:

Sierra_Juliette said:

leanne2901 said:

We heard back from our broker yesterday that it’s now been sent to the underwriter - where does this usually come in the process, underwriter then valuation? It’s been a long time since we moved 😂

Have you not been advised when your valuation is booked for? When did you apply? The two kind of run parallel to each other - you could be offered the mortgage pending valuation. Our valuation was instructed the day after application (20/04) and it was carried out on Wednesday (5/5). It’s back with the underwriters now as they had some things they wanted clarifying on my payslip - my employer calls holidays PTO (paid time off) which confused them a bit. 

Our broker hasn’t told us much - he is doing it for no charge as a hes a friend of a friend - and it’s been a disaster I really wish I’d just done myself!! We literally had a message Friday to say it had gone to the underwriters and now he’s off for the weekend so can’t ask about the valuation. More waiting!  

When did u apply 

ubayd95

Hi all, my mortgage offers states its valid till the 31st of August. Will that be enough time to complete?
Contract pack/draft contracts were requested on Friday from sellers solicitors.