Santander mortgage timeline

James-may

James-may said:

25-5-21 Application submitted

25-5-21 soft credit search done

25-5-21 another soft credit search

Haha, not much to say so far.
Fingers crossed.

26/5/21 valuation instructed.
After looking on Experian, the first search says "won't affect your credit score", however, the second search says "can affect your second score"
And my "credit score" has dropped by around 40 points.
I guess that means it was a hard search as no other search listed on my Experian says that.
Guess that's a good thing that they have proceeded with the valuation after a hard search, hopefully I passed that stage.😭

ubayd95

To keep you guys posted with where I am at, anyone else on a similar timeline? 
05/05 - received mortgage offer 
14/05 - searches requested
17/05 - draft contracts received 
17/05 - Seller's solicitor's have requested leasehold management pack from management company
25/05 - Waiting for local & water and drainage search to come back 
26/05 - Requested lease information from seller's solicitors via land registry, only then draft contracts will be sent to me to review and sign.

3 weeks in since getting the offer. I think it is fair to say things are ticking along. Hoping we get the searches back soon so that we can get enquiries underway.

Chris880

Hello. 

Recent follower of this thread. Wanted to add our timeline. Isn't waiting fun?

We are both in full time employment with local authorities and have been for 10 and 15 years. No furlough or payment holidays. Mortgaging 2/3 of our max from the DIP. 90% ltv. A few debts (sub 10k in total) to be cleared by the sale of our current house.

28/04 - DIP & Documents sent to broker

29/04 - Full Application,Hard Check showing on Credit Karma and email received from Santander to say they have received the application.
??/05 - Valuation done and came back lower than the offer price

14/05 - We agree to pay the difference. Broker sent this info back to Santander. 

Still not heard anything yet and both of us are natural worriers! 

All the best everyone.

MayMark

Hiya
We had a DIP on 5th May
Applied for mortgage in full 6th May
Valuation on 14th May

and then from then onwards we heard nothing!

 Today we found out that our case got passed to underwriters on the 22nd so mortgage broker says not long to go until an answer but when I looked on the Santander service times it says they are working on cases from 21st (3 days) so without sounding completely stupid does this mean that our case isn’t actually with the underwriters yet? and it will be when the service page says 22nd? 

Many thanks for any help 😁 we are both self employed so I understand this is a complicated process but we are holding up a chain of 5!!!!

stillwaiting5weekson

MayMark said:

Hiya
We had a DIP on 5th May
Applied for mortgage in full 6th May
Valuation on 14th May

and then from then onwards we heard nothing!

 Today we found out that our case got passed to underwriters on the 22nd so mortgage broker says not long to go until an answer but when I looked on the Santander service times it says they are working on cases from 21st (3 days) so without sounding completely stupid does this mean that our case isn’t actually with the underwriters yet? and it will be when the service page says 22nd? 

Many thanks for any help 😁 we are both self employed so I understand this is a complicated process but we are holding up a chain of 5!!!!

Hi,

It is with the Underwriters but they are not looking at it yet, they will be looking at it when the date changes to the 22nd, at the moment they are looking at cases submitted on the 21st.

Be prepared for abit of back and forth. My Husband is self employed and so far we have been sent to the underwriters 4 times. The 3 times previously they asked silly questions and every time they have asked questions its added at least a week onto the wait as you have to wait for them to check the paperwork then submit it over again. 

Our last questions were answered on 12th May but we somehow got lost in the system so it only officially went back to the underwriters Monday, driving us crazy now!

Good Luck 

Kirkii27

I wouldn’t follow Santander service times. We went to the underwriters on the 17th may and was told 3 working days we would be updated it was a week. We sent more documents off on Monday that they requested which says it takes one working day to be accepted but they still haven’t accepted them. We applied on the 8th may. It’s taking forever

peacetrustlove

Our mortgage was approved on the 10th of May. But we still haven’t got our offer. My MB said that they are upgrading their systems and need to print valuation reports, scan and upload them manually to the offers system which has created a huge backlog. I’ve seen that email from Santander to my MB. 

Thankfully, the vendors haven’t said anything, so we are still hoping to complete. 😬😬😬

Leanne1038

We've just heard from our broker, I think our broker is taking the p.... they are so slow at anything, apparently Santander asked for 3 months bank statements from my partners business, but our broker never relayed it and said they didn't receive the request until yesterday - when it's been over 2 weeks since we last heard anything!! 

Anyway, we've sent these over today. 

Worrying now because I think someone else with their own company on here was rejected because they'd furloughed employees. My partner furloughed one employee and the claim back from the government will be on the bank statement. Looks like we have more questions ahead, despite him having a stable business and a stable income. 

Pain. In. The. A$$.

Purlain

I applied on the 20th May, the vendor just texted me today to say valuation was booked for 9th June, vendor wanted an earlier date but Santander day that is the earliest date they can offer.  It seems a long delay till the valuation. Is this long wait normal? From application date to valuation, there are already 16 working days, there is no way they can complete in the published timeline which currently is 14 working days

Newbie598

Purlain said:

I applied on the 20th May, the vendor just texted me today to say valuation was booked for 9th June, vendor wanted an earlier date but Santander day that is the earliest date they can offer.  It seems a long delay till the valuation. Is this long wait normal? From application date to valuation, there are already 16 working days, there is no way they can complete in the published timeline which currently is 14 working days

We submitted on the 6th and our valuation was booked in for the 20th (last thurs) because of the long wait they had managed to do all the underwriting and we got an offer on the 21st.