Santander mortgage timeline

vixst

sweetsugar007 said:

A lot depends on how straight forward the application is. If the broker has packaged your application with bank statements, pay slips and declared the full content of your credit file and you have not been on furlough or not self employed the underwriting process can be quite straight forward. But any combination of those variables will see you thrown in to a vortex that typically takes 5-6 weeks to get out of and if that happens you will miss the end of June to be honest.

Posting here must have been a good luck charm as within the last 30 mins I received an email from Santander confirming they have issued a mortgage offer and the email arrived at the same time as an email from the estate agent asking on progress. Funny how these things line up sometimes!

The next hurdle will be the valuation... fingers crossed!

Sky_Jumper

Hi All. First time poster here, great advice on this thread, thanks! I’m SE and getting my first mortgage following divorce. I’ve applied to Santander via a broker and I’m wondering whether I should do a parallel application to Coventry as well as a just in case. I certainly couldn’t afford to top up a 25% loss on the DIP. 

My brokers not keen on Cov so I’m wondering do they accept applications directly from the SE? 

TIA, Chris 

Purlain

vixst said:

sweetsugar007 said:

A lot depends on how straight forward the application is. If the broker has packaged your application with bank statements, pay slips and declared the full content of your credit file and you have not been on furlough or not self employed the underwriting process can be quite straight forward. But any combination of those variables will see you thrown in to a vortex that typically takes 5-6 weeks to get out of and if that happens you will miss the end of June to be honest.

Posting here must have been a good luck charm as within the last 30 mins I received an email from Santander confirming they have issued a mortgage offer and the email arrived at the same time as an email from the estate agent asking on progress. Funny how these things line up sometimes!

The next hurdle will be the valuation... fingers crossed!

Have they not done the valuation yet? How did they issue mortgage offer without the valuation done? 

vixst

Purlain said:

Have they not done the valuation yet? How did they issue mortgage offer without the valuation done? 

No idea 🤷‍♀️ I guessed it meant they were happy to lend in principle the amount we had applied for, simply based on us as applicants and the information we submitted? And that the amount they eventually lend would depend on the valuation? Our broker uses an online tracking system and I can see the valuation hasn’t been ticked as completed yet. 

suziebear1985

Ok so I applied on 20/05/21 and today I got an email from Santander to say my mortgage offer has been issued. There are no other details in the email so does this mean they've given me the full amount?. Thanks

ubayd95

suziebear1985 said:

Ok so I applied on 20/05/21 and today I got an email from Santander to say my mortgage offer has been issued. There are no other details in the email so does this mean they've given me the full amount?. Thanks

I got the same when I got my mortgage offer. It should be the full amount. If you've gone through a broker ask them for the intermediary copy

Emeralds22

Has anyone applied with 5% deposit and been accepted?

strike4a

Santander online intermediary site saying 7 working days for applications to be reviewed after they've received them. Does this mean they literally sit in the inbox/to-do tray and no progress is made at all until the 7 days comes round?

peacetrustlove

Sky_Jumper said:

Hi All. First time poster here, great advice on this thread, thanks! I’m SE and getting my first mortgage following divorce. I’ve applied to Santander via a broker and I’m wondering whether I should do a parallel application to Coventry as well as a just in case. I certainly couldn’t afford to top up a 25% loss on the DIP. 

My brokers not keen on Cov so I’m wondering do they accept applications directly from the SE? 

TIA, Chris 

Hi Chris,
I regret not doing a parallel application. I had applied for a mortgage on 2nd March and finally got my offer on 1st June. Santander is lagging behind horribly. Our offer was approved at the start of May, but it took them 3 weeks to issue it due to some system upgrade. Even now, our solicitors have asked them for consent regarding a gift we have got and they are working on cases from late May. We have waited for this consent for the last 5 days now. Despite having our offer on the 1st of June and all of the other solicitor's paperwork clear, we are still not sure if we will meet the 30th June deadline. 

peacetrustlove

strike4a said:

Santander online intermediary site saying 7 working days for applications to be reviewed after they've received them. Does this mean they literally sit in the inbox/to-do tray and no progress is made at all until the 7 days comes round?

Please do not rely on their website timescales. They are absurd as compared to their actual wait times. I've been in so much pain and agony because of their slow process. Applied on 2nd March and we have still not completed. There is no chain and our entire deposit has been sitting in our current account for the last 2 months.