Santander mortgage timeline

Ameba

Sarah070807 said:

Ameba said:

Some good news here finally - Santander have agreed our mortgage! 
Now new waiting begins - for the offer to be issued and received ... so half way there really 

Yay this is great! Congrats! Still waiting to hear if our buyers has as well. Fingers crossed! 

Hope the offer comes through ASAP for you. 🙌🏼🙌🏼

Thanks  it's such a relief! Hopefully they will be finalising cases quicker now that Stamp Duty deadline has passed and probably lots of cases have been closed for those lucky people who have completed in time.

Sarah070807

Oh no Purlain. I’m sorry to hear that! Fingers crossed the vendor doesn’t. Are they in a chain? 

courtzzk

Just thought I'd add my experience. We left our old broker as they were useless and found another with really good reviews, with a timescale of:

23rd June 2021 - Sourced new broker, DIP aquired, documents emailed to broker.
24th June 2021 - Application submitted to Santander
30th June 2021 - Valuation took place, mortgage offer received at 6:30pm

We're first time buyers with above average credit scores, but I had 1 late credit card payment back in February and because of this my old broker told me to find an adverse credit broker (they submitted 3 applications to 3 banks, all declined to provide a DIP). I think my broker massively helped with speeding up the process for me as once the application was submitted no further questions were asked as the broker had already asked me everything beforehand. 

Purlain

Sarah070807 said:

Oh no Purlain. I’m sorry to hear that! Fingers crossed the vendor doesn’t. Are they in a chain? 

Yes, they are selling the flat to buy a house but their vendor is losing patience so they're worried they might lose the house now. The uncertainty of when the decision can be made is really frustrating everyone. 

mortgagehope

Purlain said:

Sarah070807 said:

Oh no Purlain. I’m sorry to hear that! Fingers crossed the vendor doesn’t. Are they in a chain? 

Yes, they are selling the flat to buy a house but their vendor is losing patience so they're worried they might lose the house now. The uncertainty of when the decision can be made is really frustrating everyone. 

We're in a very similar situation, our application went in on May19th, we've had one lot of questions which we answered on 23rd June and still no word. I get the feeling they're going to ask more questions aswell. Our buyers are good to go but we've not even done the survey on our new house yet as its a listed building survey which are around 1500 and don't want to waste that if they wont even lend on it. It's has a thatched roof and an annexe which can be problematic for some lenders but apparently Santander do lend on them....fingers crossed. 

Purlain

mortgagehope said:

Purlain said:

Sarah070807 said:

Oh no Purlain. I’m sorry to hear that! Fingers crossed the vendor doesn’t. Are they in a chain? 

Yes, they are selling the flat to buy a house but their vendor is losing patience so they're worried they might lose the house now. The uncertainty of when the decision can be made is really frustrating everyone. 

We're in a very similar situation, our application went in on May19th, we've had one lot of questions which we answered on 23rd June and still no word. I get the feeling they're going to ask more questions aswell. Our buyers are good to go but we've not even done the survey on our new house yet as its a listed building survey which are around 1500 and don't want to waste that if they wont even lend on it. It's has a thatched roof and an annexe which can be problematic for some lenders but apparently Santander do lend on them....fingers crossed. 

I have had two lots of questions and two credit checks, every time it took them two weeks to ask the next set of questions so it has become a never ending process, it is a joke to take more than two months to get a mortgage decision, apparently Santander is too big to care about losing small business like us 

strike4a

Purlain said:

mortgagehope said:

Purlain said:

Sarah070807 said:

Oh no Purlain. I’m sorry to hear that! Fingers crossed the vendor doesn’t. Are they in a chain? 

Yes, they are selling the flat to buy a house but their vendor is losing patience so they're worried they might lose the house now. The uncertainty of when the decision can be made is really frustrating everyone. 

We're in a very similar situation, our application went in on May19th, we've had one lot of questions which we answered on 23rd June and still no word. I get the feeling they're going to ask more questions aswell. Our buyers are good to go but we've not even done the survey on our new house yet as its a listed building survey which are around 1500 and don't want to waste that if they wont even lend on it. It's has a thatched roof and an annexe which can be problematic for some lenders but apparently Santander do lend on them....fingers crossed. 

I have had two lots of questions and two credit checks, every time it took them two weeks to ask the next set of questions so it has become a never ending process, it is a joke to take more than two months to get a mortgage decision, apparently Santander is too big to care about losing small business like us 

A complete joke, I agree. It's the lack of communication for which there is no excuse.

Ameba

Purlain said:

Sarah070807 said:

Purlain said:

Ameba said:

Some good news here finally - Santander have agreed our mortgage! 
Now new waiting begins - for the offer to be issued and received ... so half way there really 

Congratulations! I am still waiting for mine to come through 😂

Fingers crossed it arrives soon 🤞🏼🤞🏼🤞🏼🤞🏼

Just been told case has been passed back to the underwriting on 26 June so another two weeks waiting, this is getting ridiculous, I think my vendor might pull out

Sorry to hear (read) that! Hopefully they will speed up assessments now. 

Purlain

Ameba said:

Purlain said:

Sarah070807 said:

Purlain said:

Ameba said:

Some good news here finally - Santander have agreed our mortgage! 
Now new waiting begins - for the offer to be issued and received ... so half way there really 

Congratulations! I am still waiting for mine to come through 😂

Fingers crossed it arrives soon 🤞🏼🤞🏼🤞🏼🤞🏼

Just been told case has been passed back to the underwriting on 26 June so another two weeks waiting, this is getting ridiculous, I think my vendor might pull out

Sorry to hear (read) that! Hopefully they will speed up assessments now. 

Thanks I hope so too, hope you can move into your new home soon

Ameba

Have just received email confirmation from Santander that they have issued the offer. 
I'm curious how long it may take to receive it. Can anyone share their recent experience please?