Santander mortgage timeline

Ameba

Purlain said:

Have you had any updates this week? My case was passed to underwriting again on Friday, no further updates since then. It has been nearly one month now, looks more and more likely I won't make the stamp duty deadline.

No, no updates here either. The valuation was done last week, MB says report came back and the application is sitting with underwriting team. Really frustrating! Starting to worry the sellers may get fed up...

Purlain

Ameba said:

Purlain said:

Have you had any updates this week? My case was passed to underwriting again on Friday, no further updates since then. It has been nearly one month now, looks more and more likely I won't make the stamp duty deadline.

No, no updates here either. The valuation was done last week, MB says report came back and the application is sitting with underwriting team. Really frustrating! Starting to worry the sellers may get fed up...

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

NewToThis2021

I’m still frustratingly waiting too. Applied on May 6th, back and forward with questions, back with underwriters again  since Thursday. 

Solicitors and EA are constantly calling for updates of which I can give them nothing!

Does anyone know if they assess for a decision each time they look at the application and docs etc or whether they wait until the end when they have everything? 

NatNat77

Purlain said:

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

Has your conveyancer said how long they'll need to do what they need to do between offer and exchange/completion? The valuation is being done on the house we're buying tomorrow, and they should issue the offer within 2 working days as the underwriting is done. But they're being so slow with everything atm I'm worried they won't, or, even if they do, whether there'll be enough time for the conveyancer to do their checks, us to sign the deeds, draw down the funds etc etc, by the end of June. Our conveyancer has promised she will do her best to turn it around for us in time but there's not much she can do until we get the offer so we're really in the hands of the bank at the moment 😬

Fingers crossed we both make it in time (and everyone else of course!) xx

Emeralds22

So we finally got an offer! Hooray.

However next hurdle is we are waiting for a copy of the offer to issued to the solicitor and then we sign a mortgage deed and that should be it. How long did it take for anyone please?

The issue is that our solicitor has told us Santander are cutting payments off for the stamp duty holiday on the 23rd.  Giving us a week to do all of the above! We are first time buyers so do not care but the chain are not!! #morestress #morewaiting.

FTB1985EL

Emeralds22 said:

So we finally got an offer! Hooray.

However next hurdle is we are waiting for a copy of the offer to issued to the solicitor and then we sign a mortgage deed and that should be it. How long did it take for anyone please?

The issue is that our solicitor has told us Santander are cutting payments off for the stamp duty holiday on the 23rd.  Giving us a week to do all of the above! We are first time buyers so do not care but the chain are not!! #morestress #morewaiting.

Few working days for offer to solicitor and the mortgage deed was sent over by solicitor when received offer. Moved very quickly for me after offer.

Purlain

NatNat77 said:

Purlain said:

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

Has your conveyancer said how long they'll need to do what they need to do between offer and exchange/completion? The valuation is being done on the house we're buying tomorrow, and they should issue the offer within 2 working days as the underwriting is done. But they're being so slow with everything atm I'm worried they won't, or, even if they do, whether there'll be enough time for the conveyancer to do their checks, us to sign the deeds, draw down the funds etc etc, by the end of June. Our conveyancer has promised she will do her best to turn it around for us in time but there's not much she can do until we get the offer so we're really in the hands of the bank at the moment 😬

Fingers crossed we both make it in time (and everyone else of course!) xx

It shouldn't take the solicitor long to wrap things up once mortgage offer is received, but looking at everyone's experience so far, I am am not too optimistic that Santander can issue the offer in time, sorry to disappoint you

Purlain

Purlain said:

NatNat77 said:

Purlain said:

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

Has your conveyancer said how long they'll need to do what they need to do between offer and exchange/completion? The valuation is being done on the house we're buying tomorrow, and they should issue the offer within 2 working days as the underwriting is done. But they're being so slow with everything atm I'm worried they won't, or, even if they do, whether there'll be enough time for the conveyancer to do their checks, us to sign the deeds, draw down the funds etc etc, by the end of June. Our conveyancer has promised she will do her best to turn it around for us in time but there's not much she can do until we get the offer so we're really in the hands of the bank at the moment 😬

Fingers crossed we both make it in time (and everyone else of course!) xx

It shouldn't take the solicitor long to wrap things up once mortgage offer is received, but looking at everyone's experience so far, I am am not too optimistic that Santander can issue the offer in time, sorry to disappoint you

I just had an update from the broker saying the Santander requires certificate of title to be issued before 23 June for end of June completion, with their current 7 days timeline, it is going to be very tight.

Sky_Jumper

Purlain said:

Ameba said:

Purlain said:

Have you had any updates this week? My case was passed to underwriting again on Friday, no further updates since then. It has been nearly one month now, looks more and more likely I won't make the stamp duty deadline.

No, no updates here either. The valuation was done last week, MB says report came back and the application is sitting with underwriting team. Really frustrating! Starting to worry the sellers may get fed up...

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

My applications been with the Underwriter for 8 working days now. Was supposed to be reviewed last Friday, then Monday and when MB called Monday (90minute hold) was told 10 working day SLA now so apparently this Friday. Had to go back to EA & vendors and say hugely unlikely it’s going to be done before 30th. 😔

Purlain

Sky_Jumper said:

Purlain said:

Ameba said:

Purlain said:

Have you had any updates this week? My case was passed to underwriting again on Friday, no further updates since then. It has been nearly one month now, looks more and more likely I won't make the stamp duty deadline.

No, no updates here either. The valuation was done last week, MB says report came back and the application is sitting with underwriting team. Really frustrating! Starting to worry the sellers may get fed up...

Me too, getting very frustrated, the vendor is on the chain they must complete by end of June otherwise their purchase will fall through. I am really sorry for them if they cannot move into the house as planned. My case has been sitting in the underwriting since Friday, they have all the information and the valuation report I am sure if it won't take them long to make a decision if they start working on it. 

My applications been with the Underwriter for 8 working days now. Was supposed to be reviewed last Friday, then Monday and when MB called Monday (90minute hold) was told 10 working day SLA now so apparently this Friday. Had to go back to EA & vendors and say hugely unlikely it’s going to be done before 30th. 😔

Today I have completely given up on  completion before stamp duty holiday expires, broker said Santander will not look at my case again before 21 June, who knows they might have more questions by then, I was warned Santander has been slow before the application but I didn't listen.