Santander mortgage timeline

NatNat77

goodwithsaving said:

Are people finding it's taking a while for Santander to book in valuations? (They use Countrywide don't they)

Yes! Our application was approved 23 May (applied in mid March! Hubby SE and they're being really picky with SE atm apparently. Annoying as we're existing customers and were approved for the same amount in November, but that purchase fell through).

They then seemingly just sat on it for 5 days and it wasn't until I called on the 28th that they passed it to the mortgage application centre with some rubbish excuse for not doing it sooner. Vendors called later that afternoon to say it wasn't being valued until 17 June! I couldn't believe it, almost 4 weeks later! Our LTV is less than 50% so it's especially irritating, and we're trying to beat the stamp duty deadline as well, and it's cutting it really fine. If we don't make it because of this three families will be paying an extra 12.5k. I will have to complain I think

Purlain

goodwithsaving said:

Are people finding it's taking a while for Santander to book in valuations? (They use Countrywide don't they)

Yes, they are very slow on everything at the moment including valuation, mine was booked nearly 3 weeks after as application was submitted

goodwithsaving

Purlain said:

goodwithsaving said:

Are people finding it's taking a while for Santander to book in valuations? (They use Countrywide don't they)

Yes, they are very slow on everything at the moment including valuation, mine was booked nearly 3 weeks after as application was submitted

Thank you and @NatNat77. From a vendors POV it is disconcerting because I want my buyers mortgage sorted asap because the further into the process we are, the harder it is when / if my sale falls through and jeopordises my purchase. The delays are tough on everyone at the moment!

Thrugelmir

Emeralds22 said:

Athanasia said:

Emeralds22 said:

Has anyone applied with 5% deposit and been accepted?

I’ve had my application accepted and waiting on the valuation. Good luck!

That is good to hear! congratulations. 

We have had our valuation done and applied on 7th May and still waiting to hear!!

Let us just say that my partner and I have probably a stronger relationship to santander than most (and I mean more than just banking with them), it is hard being on the other end of this mess. The delays and questions have been an absolute DISGRACE!

We have two weeks to move in or I fear the Vendor will pull out as they are reliant on the stamp duty holiday.  I am coming around to the fact that they have lost us the house now!   I think it is time we start looking for more than just another home!

Optimistic to expect an end of June completion. When only applying on the 7th May. 

ubayd95

Anyone looking to complete in June, if you applied in May it will be very tough.

These solicitors have 100s of cases and any given time hoping some stick.

I got my mortgage offer on the 5th of May and searches are coming back on the 14th apparently. One month after they were applied for.

Next week I should receive my contract, transfer and mortgage deed to sign. Then I hope there aren't too many enquiries before we can look forward to a completion date.

One thing I've been doing, is chasing daily. And I mean daily. Don't feel as if you're annoying either solicitor or EA. Do what you gotta do, you are paying them after all ...

Touch wood I  can complete by the end of July!

Emeralds22

Thrugelmir said:

Emeralds22 said:

Athanasia said:

Emeralds22 said:

Has anyone applied with 5% deposit and been accepted?

I’ve had my application accepted and waiting on the valuation. Good luck!

That is good to hear! congratulations. 

We have had our valuation done and applied on 7th May and still waiting to hear!!

Let us just say that my partner and I have probably a stronger relationship to santander than most (and I mean more than just banking with them), it is hard being on the other end of this mess. The delays and questions have been an absolute DISGRACE!

We have two weeks to move in or I fear the Vendor will pull out as they are reliant on the stamp duty holiday.  I am coming around to the fact that they have lost us the house now!   I think it is time we start looking for more than just another home!

Optimistic to expect an end of June completion. When only applying on the 7th May. 

All searches are done ✔ so, not really... this has held us up for 4 weeks.

Athanasia

Does anyone have experience of swapping property after being approved by the underwriters but before offer? Also, I’ve heard that if you negotiate the price,you can still get the whole amount you applied for,and use the margin for renovations?

lg220701

Hi 

Wondering if anyone is in the same boat as me or can shine some light on the timeframe I am looking at. Mortage accepted, offer with solicitor, searches back, enquires sent to vendor (still waiting for response), mortgage deed signed.. 

keep asking solicitor for a rough timeframe to setting an exchange date or signing contracts and I keep getting “10-12 weeks from when searches are applied for” my searches were applied for 2 and a half weeks ago and are already back and as you can see from what I’ve said above all seems to be moving at a good pace? Surely it can’t take another 10 weeks from this point? Or can it ?

ubayd95

lg220701 said:

Hi 

Wondering if anyone is in the same boat as me or can shine some light on the timeframe I am looking at. Mortage accepted, offer with solicitor, searches back, enquires sent to vendor (still waiting for response), mortgage deed signed.. 

keep asking solicitor for a rough timeframe to setting an exchange date or signing contracts and I keep getting “10-12 weeks from when searches are applied for” my searches were applied for 2 and a half weeks ago and are already back and as you can see from what I’ve said above all seems to be moving at a good pace? Surely it can’t take another 10 weeks from this point? Or can it ?

That seems absurdly high. Cannot be 10 weeks from when searches were applied for. I'd say another 4 weeks max from now if searches are back ...

Leanne1038

Today is day 35 since we applied. I had a major meltdown on Friday to our broker about how upset this is making us, the delays seem to be much longer for us than anyone on here so far that I've come across and I fear that our application is just constantly being pushed to the back of the pile. I understand they're busy, but 35 days is out of the ordinary, their average time to offer on SE is 25 days. We've only just gone back into the underwriting queue last Tuesday and their turn around is 7 working days so we're expecting to not hear a thing until next week, which will follow suit of more questions. I can't even try and get my head round the incompetence of the staff in underwriting. Why ask for documents and ask questions weeks after application, ask for it all in one go, especially when the questions relate to the same thing I.e. furlough!! 

It's nothing but stress. I'm beginning to feel like they've lost us the house, the EA are getting sick and tired of us not having an update, as are the vendors. 

Santander are a disgrace of a company.