Santander mortgage timeline

Spec2

Been a lurker for a while. Not the greatest experience with Santander so far. 

Original application via broker submitted last year which was approved in about 4 weeks. That product expired…issues  along the chain - seller couldn’t find a property. Broker went back to Santander in Feb to change the product as everything was back on -  they only asked for last 3 mths payslips this time (presume cos it’s mortgage for same property who knows) plus it had already been approved and just expired. Fast forward  7 weeks - they come back reducing term and offering less. Makes no sense as nothing has changed. Then they requested updated accounts (as partner is self employed). This was all submitted 4 days ago and still have not heard anything. 

I seriously do not understand why Santander make things so hard for self employed applicants. Loan to value is 50% and credit is all good, our income is the same as when they originally approved so really do not understand what is taking so long with underwriters ….anyone else had similar issue with a positive outcome. Starting to think this move won’t be happening

Rondoten10

Received

11/04/2022

Valuation instructed

12/04/2022

 

Passed to Underwriting

12/04/2022

Valuation appointment

12/04/2022

Valuation Received

15/04/2022

  

Passed to Underwriting

20/04/2022

 Approved subject to valuation 20/04/2022 - 

Any idea why the mortgage would be approved subject to valuation if they received the valuation on the 15th?

pipscat

Been checking this thread for a while and wanted to add my experience:

07/04 - DIP with Santander

08/04 - application went in with mortgage advisor - was provisionally approved and advisor sent payslips and marriage certificate as we recently got married and my previous name was still on my pay slip and other accounts

11/04 - desktop valuation completed

13/04 - query about my name so advisor referred them back to marriage certificate - no other queries or request for documents!

19/04 - application approved

23/04 - offer received in post

We were surprised by how quick our application took, especially over the Easter weekend! 

Rondoten10

Mortgage agreed on the 20th subject to valuation but still no sign of our offer yet. Anyone else in the same boat?

Srooney28

Hi everyone,

just wondering if anyone had a similar timeline

DIP approved - 

Srooney28

Hi everyone,

Just wondering if anyone had a similar timelkne

DIP approved - 20th April

Full application - 20th April
Hard credit searches- 20th April
requested documents- 21st April
Valuation booked for 6th may- 21st April 
requested bank statement- 22nd April
Approved documents and sent to mortgage service centre - 25th April 

Does anyone know or have any experience of what happens at the mortgage service centre?? Is this a good sign or a bad sign??

Voodooshaman2200

Srooney28 said:

Hi everyone,

Just wondering if anyone had a similar timelkne

DIP approved - 20th April

Full application - 20th April
Hard credit searches- 20th April
requested documents- 21st April
Valuation booked for 6th may- 21st April 
requested bank statement- 22nd April
Approved documents and sent to mortgage service centre - 25th April 

Does anyone know or have any experience of what happens at the mortgage service centre?? Is this a good sign or a bad sign??

Hi Srooney28

I've progressed a bit slower than you but have now been passed to the "mortgage service centre" too. Are you still waiting? or how long did it take? 

I'm FTB 90% LTV

Full Application submitted -14th Apr
Documents uploaded -19th Apr
Valuation booked for 27th Apr on -20th April 
Santander had a query which the broker dealt with (no idea what that was?) -5th May
Application "agreed"? and sent to Mortgage centre to assess valuation- 10th May

I have to move out of my flat on 5th June, so starting to look at short term accommodation

Voodooshaman2200

Hi Has anyone recently had a new mortgage offer from Santander? The valuation on my proposed purchase was on the 27th April and the application is still stuck at "Awaiting valuation" on the L&C website. The broker told me a week ago that it had been passed to the "Santander mortgage centre"... no news is making me nervous!

logon94

Voodooshaman2200 said:

Hi Has anyone recently had a new mortgage offer from Santander? The valuation on my proposed purchase was on the 27th April and the application is still stuck at "Awaiting valuation" on the L&C website. The broker told me a week ago that it had been passed to the "Santander mortgage centre"... no news is making me nervous!

I’m in a similar boat. Full application went in March 22nd. They rejected it on April 14th, my MB challenged it and they’ve kept coming back for 3 weeks asking for more documents. Sent the last of them to Santander on Friday 13th May. Now waiting to hear.

I’ve phoned them directly this Tuesday just gone and apparently it’s with their head office… I’m not what this means or whether it’s a good or bad thing.

Have you heard anything?

Voodooshaman2200

I got my offer 8 days from when my application was sent to the “mortgage centre”
so all in all it took 35 days. I’m waiting for it in the post now.