Santander mortgage timeline

mdcooper88

Our broker submitted a full application on Wednesday, accepted straight away, and valuation was booked yesterday for today.

Newcastle93

Another lurker on the thread! I found it super helpful to put my mind at risk during the agonizing wait! very impressed with the speed Santander have dealt with everything and how helpful their staff are.

First time buyers, our timeline is below:

Applied online and provisionally approved 16/03
Documents reviewed, hard credit check  and valuation booked. Underwriters approved later in the day 17/03
Valuation carried out 21/03
Valuation results given - Unfortunately a down valuation 22/03 - Offer renegotiated with seller and amended application submitted 
Mortgage offer issued in post 24/03

The down valuation threw a spanner in the works but we were lucky enough to have the seller drop the price by 8k! meaning we only had to increase our deposit by 2k  

I was confused about the down valuation and where it left us but Santander were super helpful and left me feeling at ease, would honestly recommend to anyone.

Here's hoping the rest of the process is much less stressful! 

steve866

My broker submitted a full application for my remortgage on 18/03/2022. I have just started a new job (one month in) but the broker seems to think he didn't even need to submit my payslip as they automatically verified my income. My broker said the next step would be a valuation (either physical or desktop). What are the chances they'll come back to verify more about my income etc. at this stage? Thanks

HKGers

hongkonger said:

Hi all,

I moved to the UK over a year and recently I have reserved a new build. I engaged with a mortgage broker to apply for mortgage with Santander. LTV is 50%. Most of my deposit is coming from my employment income and property sold oversea. I know the application process will be longer than usual. Here is my timeline to share:

25/1 - AIP received.
16/2 - Application submitted.
16/2 - Hard search.
21/2 - Asked for more info. Documents submitted within the same day.
1/3 - Asked for more info. Documents submitted within the same day.
3/4 - Property valuation has been signed off at full value
15/3 - Soft & hard search.
16/3 - Asked for more info. Documents submitted within the same day.
21/3 - Asked for more info. Basically the similar questions on 16/4. Documents submitted within the same day.

We are in the same boat dude, going via broker, job was transfered to UK from HK in the same firm.

31/1 - AIP received
 7/2 - Offer accepted by seller

10/2 - Application submitted

12/2 - Hard search

~BROKER off for 2 weeks without letting us know~

5 - 11/3 - Escalated to broker branch manager, mentions with underwriters

16/3 - Documents requested from underwriters

da12

AIP: 18/03/2022

Application submitted by broker on: 18/03/2022

Valuation done by Santander: 22/03/2022

Valuation accepted and sent to underwriters sometime between 22nd to 24th 03/2022

Offer email sent by Santander to us: 30/03/2022

Broker conformed approval to us also: 30/03/2022

9 days - 18th March to 30th March 2022

No extra documentation, FTB, 95% mortgage

Good luck! 

Mortgage_too_Stressful

Please,We set a target with some of our friends because we were all looking to get a mortgage.We decided to pay in 1000pound each at the end of the month,and when everyone had saved enough to use as his/her deposit,we stopped the saving arrangement.
When we got our Mortgage offer,we informed the conveyancer,that some of our deposit was coming from this my santander bank account savings.They came back to me that they saw that many people paid into the account and got their money back.I explained that,it is a way we encourage ourselves to save towards mortgage deposit.
   I was shocked when the conveyancer told me that we wouldnt be able to use the money that we have struggled to save over a long period of time[Unless,we produce 6 months bank statement of every participant.I knew that there was no other way out than to accept their decision of not using this money as it would be an invasion into the participants account if i keep asking them for their 6 months bank statements because some of them were not directly my friends but friends of co-participators.So there was no other choice than to look elsewhere for money because she told us that we must get the exact money we saved in my Santander saving elsewhere without taking any money out of the one we saved in my Santander.
  We sold everything we could sell but we were still behind with 9500pounds.We had no other choice than to approach my mother in law because,the seller/vendor of the house we are buying gave us until yesterday 30/03/2022 to complete the Exchange and completion.My mother in law gave us the missing 9500 but the conveyancer came up with another bad news that she needs to inform the lender to review our Mortgage offer again now that 9500pounds is a gift.
   Please,is this how its done?cos we have been on this issue for over four months and the sellers of the house are now very impatient.Because,we were informed that this new review can take up to between 5 days and 6 weeks
  Can the lenders reduce the Amount they will be lending us since she is now informing the lender that part of the money is a gift?
 What can i Tell the Estate Agents/House Seller now,that i couldnt sort out the mess today anymore as i promised?
   Please,i need your advice as i am really worried,i have lost/sold my car and most things i have just to buy this house,and now the Estate Agents want to bring in those that look like serious buyers to them[without knowing what i have been going through in the hands of the conveyancer given to me by my broker]

mdcooper88

Ours was approved (no down valuation) late on Thursday 31st. Timeline as follows

23/3 (16:00) - application submitted
25/3 - valuation carried out (went inside property) 
25/3 - valuation sent back to Santander the same day
31/3 (16:30) - underwriter questioned YTD figures on payslip
31/3 (17:00) - response provided back to Santander via broker
31/3 (18:00) - approved notification sent to broker
01/4 (12:00) - we recieved email from Santander directly confirming approved
01/4 (14:30) - mortgage offer emailed to us via the broker

All in all around 6 working days if you exclude the day it was submitted as it was very late in the day, no down valuation either so all pretty good. 

Nelly851

Hello, 

We have applied for a mortgage from Santander through a broker who has turned out to be very unresponsive and hard to reach.

The application was submitted early March and that's when I can see that they did a hard credit search on my credit report. Our broker tells us that the valuation took place on 31st of March. But that's all the information we have. 

From the forum posts, it seems that even people who have applied through a broker are able to check their application status and progress online. Is that so? Can someone please explain how this is possible?

At this point, I have zero confidence in our broker and would very much like to have a hold thing myself by being able to check the progress of our application. 

SonDavid

I don't know where to start and how to keep it short but we are now 6 weeks after our mortgage advisor meeting, and offering of product.

It then went to underwriters who shot it down, to which our advisor has gone for an appeal and back with further information. Each time information is requested from us it's back to a wait time of 4/7 days for underwriters.  Its so frustrating and they're being overly fussy with us.

I've been a long standing customer, good credit history, never missed a mortgage payment, direct debit etc, the only change in circumstances is I'm now part time hours and not full time due to having a baby. However, I'm adding my husband on to this new mortgage and he earns a decent full time wage.

Santander are close to losing a loyal customer. I'm disgusted with how they've handled this!

Anyone experience of appeals process and how long it takes?

Anon009

We got an AIP 24/03/2022 and submitted the Online Mortgage Application 25/03/2022. On 28/03/2022 got an email saying the property is getting valued. On 29/03/2022 documents were getting reviewed by the underwriters. Since then we have been going back and forth providing Santander with whatever information they asked for. Submitted everything straight away. On the 5th April, we got and email saying application declined but the telephone team will contact us. Received a phone within 10 minutes, the man on the phone said mortgage declined because they can only offer us 4K less than what we want. So I agreed to put an additional 5K deposit. Changed that on the mortgage application and sent it back. Then received a message on the Online Portal asking if we accept their new loan offer. 4K less than what we has asked to borrow. I said yes and submitted it back. A day later we were asked on the portal, if we would like to have the product fee included in the mortgage or upfront payment. Since then it had been under review. Was expecting a decision by today/tomorrow. Until this morning I got a message saying the application is under review with the underwriters and should hear back within 7 working days. Confused as it was already under review? So why again? Rang them up and they said its just under review. Absolutely scared as I have no idea whats going to happen. I’m a first time buyer and finally found the perfect property. Just hoping they give us the mortgage now