Santander mortgage timeline

mcmule86

xNaomi said:

jhub68 said:

Hi, I have been informed by my broker that the valuation has been instructed. What have been other people's experiences with the lead time on these being carried out? Thanks 😊 

Valuation was 30-Sep, our offer was issued yesterday

Wow. Congrats. Hoping ours will be through soon. 

mcmule86

jhub68 said:

mcmule86 said:

jhub68 said:

Hi, I have been informed by my broker that the valuation has been instructed. What have been other people's experiences with the lead time on these being carried out? Thanks 😊 

We applied on the 24 sept and valuation was done on the 30 sept. Still waiting to hear. 

My broker told me 7 days ago that the valuation had been instructed, but have not heard nothing from Santander, the wait in painful!

It’s is. Very frustrating. If our does t come though soon The house we are buying is going to go to other people. Apparently  they can move quicker than us despite being 9 weeks in. Our sale is still going through and are almost ready to exchange. With two you d children it’s not ideal. Fingers crossed for everyone waiting 

IMsaver

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

newhomechris

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

IMsaver

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

Can your broker not push them to speed up? I.e say you might lose your home etc.? 8 weeks is a bit of a joke, especially as other people seem to have 2 weeks etc.

jhub68

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

How did they contact you to arrange valuation (phone or email)?

newhomechris

IMsaver said:

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

Can your broker not push them to speed up? I.e say you might lose your home etc.? 8 weeks is a bit of a joke, especially as other people seem to have 2 weeks etc.

My broker has been great. He is trying to speed them along at the moment but the delays are causing me increasing problems and worries. I think the next 24 hours is decision time. 

Fendal71

Hi, I’m a newbie to this forum and thought I would join in with the discussions: my timeline with Santander is as follows:
11th Sept - AIP
14th Sept - Full application (and hard search conducted) - also valuation carried out using home report (I’m based in Scotland)
18th Sept - application submitted to underwriter.
to date nothing further.......😔
So it appears I’m still stuck in the underwriter queue 🙄 according to my broker I’m a straightforward case which would take 5 minutes to underwrite. So I’m getting quite frustrated seeing others getting offers who seem to be getting offers after my dates 😭 obviously wishing them all the best 😉 just the lack of consistency with approach 😩

newhomechris

jhub68 said:

newhomechris said:

IMsaver said:

Is the residential time to offer in business working days or actual time? I.e 20.4 days is just under 3 weeks or 4 weeks?

It’s definitely working days but it’s only a guide - my case is pretty simple and I submitted full application on 24th August with valuation on 28th. The questions started last week and I’m into my 8th week of waiting now. I have a AIP with another lender now and I’m going to make a decision tomorrow on whether to pull the plug on Santander and go with another. I believe they are a great lender and I have good credit etc but it seems that the underwriting criteria are SO strict now that they are dithering over some cases.....

How did they contact you to arrange valuation (phone or email)?

I’m buying a new build so the surveyor contacted the builder. They did a desktop valuation the same day and returned it the same day!! 

Mononoke87

Applied on 29/08, desktop valuation done on 04/09 but we didn't hear any results yet. Hope it's ok.