Santander mortgage timeline

kaz84

Hi there - I’m in the waiting boat and this thread helps!

FTB, 95% LTV, F/T employed. Straightforward case, except that I’m starting a new job next week and affordability calculated on new salary. Application through broker.

Full Application: 19 May 2022 (with AIP)

Valuation instructed: 20 May 2022 (booked for 10th June)

Extra documents requested: 20 May 2022 

Extra documents requested 23 May 2022.

and now i wait….

kaz84

steve866 said:

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

Hey - I’m on a similar situation. I’m starting a new job next week and broker seems to think this is absolutely fine. He calculated my affordability based on the new contract. So far, I was not asked for any pay stubs. The Co tract was loaded. How did you get on?

noscrazy

Hi all, long time stalker here. Applied through my MB on 27th May with a DIP issued the same day, see below for my progress:

Valuation appointment - 27/05/2022 at 12:41pm

Passed to Mortgage Centre - 27/05/2022 at 7:45am

Underwriter decision: agreed - 26/05/2022 at 3:32pm

Passed to underwriting - 26/05/2022 at 1:40pm

Valuation instructed - 26/05/2022 at 1:40pm

Application Received - 26/05/2022 at 11:44am

So it looks like my mortgage was agreed within 24hrs subject to valuation!? That is incredibly quick! Me and my partner are both FTB with no bad debt/credit history and neither of us self employed so a straightforward application.

Valuation is booked in for Monday 6th June and I'm absolutely paranoid about down valuation!! We don't have enough money saved to cover any down valuations so I'm praying it goes OK!

kaz84

noscrazy said:

Hi all, long time stalker here. Applied through my MB on 27th May with a DIP issued the same day, see below for my progress:

Valuation appointment - 27/05/2022 at 12:41pm

Passed to Mortgage Centre - 27/05/2022 at 7:45am

Underwriter decision: agreed - 26/05/2022 at 3:32pm

Passed to underwriting - 26/05/2022 at 1:40pm

Valuation instructed - 26/05/2022 at 1:40pm

Application Received - 26/05/2022 at 11:44am

So it looks like my mortgage was agreed within 24hrs subject to valuation!? That is incredibly quick! Me and my partner are both FTB with no bad debt/credit history and neither of us self employed so a straightforward application.

Valuation is booked in for Monday 6th June and I'm absolutely paranoid about down valuation!! We don't have enough money saved to cover any down valuations so I'm praying it goes OK!

Hey! I hear you!
so at the moment presumably status is Agreed Subject to Valuation?

good luck tomorrow! Please let us know how you get on with the valuation.

Mine’s is In London and due Friday 10th (3 weeks after a Full Application) and the wait is agonising. I’m also paranoid about a down valuation. Like you, I’ve no further funds for such scenario and have read threads today that nearly 60% of properties are down valued lately and it’s freaking me out. 

noscrazy

kaz84 said:

noscrazy said:

Hi all, long time stalker here. Applied through my MB on 27th May with a DIP issued the same day, see below for my progress:

Valuation appointment - 27/05/2022 at 12:41pm

Passed to Mortgage Centre - 27/05/2022 at 7:45am

Underwriter decision: agreed - 26/05/2022 at 3:32pm

Passed to underwriting - 26/05/2022 at 1:40pm

Valuation instructed - 26/05/2022 at 1:40pm

Application Received - 26/05/2022 at 11:44am

So it looks like my mortgage was agreed within 24hrs subject to valuation!? That is incredibly quick! Me and my partner are both FTB with no bad debt/credit history and neither of us self employed so a straightforward application.

Valuation is booked in for Monday 6th June and I'm absolutely paranoid about down valuation!! We don't have enough money saved to cover any down valuations so I'm praying it goes OK!

Hey! I hear you!
so at the moment presumably status is Agreed Subject to Valuation?

good luck tomorrow! Please let us know how you get on with the valuation.

Mine’s is In London and due Friday 10th (3 weeks after a Full Application) and the wait is agonising. I’m also paranoid about a down valuation. Like you, I’ve no further funds for such scenario and have read threads today that nearly 60% of properties are down valued lately and it’s freaking me out. 

Thank you! Yes the status is agreed subject to valuation currently, still heard nothing on the valuation as of yet but hoping to hear something today - hope yours goes OK too! I have no doubt that the house we've offered on is worth the money, It's that there's very little sales history in the area so I'm concerned It's going to be down valued on this alone.

noscrazy

kaz84 said:

noscrazy said:

Hi all, long time stalker here. Applied through my MB on 27th May with a DIP issued the same day, see below for my progress:

Valuation appointment - 27/05/2022 at 12:41pm

Passed to Mortgage Centre - 27/05/2022 at 7:45am

Underwriter decision: agreed - 26/05/2022 at 3:32pm

Passed to underwriting - 26/05/2022 at 1:40pm

Valuation instructed - 26/05/2022 at 1:40pm

Application Received - 26/05/2022 at 11:44am

So it looks like my mortgage was agreed within 24hrs subject to valuation!? That is incredibly quick! Me and my partner are both FTB with no bad debt/credit history and neither of us self employed so a straightforward application.

Valuation is booked in for Monday 6th June and I'm absolutely paranoid about down valuation!! We don't have enough money saved to cover any down valuations so I'm praying it goes OK!

Hey! I hear you!
so at the moment presumably status is Agreed Subject to Valuation?

good luck tomorrow! Please let us know how you get on with the valuation.

Mine’s is In London and due Friday 10th (3 weeks after a Full Application) and the wait is agonising. I’m also paranoid about a down valuation. Like you, I’ve no further funds for such scenario and have read threads today that nearly 60% of properties are down valued lately and it’s freaking me out. 

Just heard back, downvalued to £190k from £200k. No reason given but the mortgage advisor think it's the lack of sales history in the area Phoned the estate agent and she is going to see what she can do, hopefully we don't lose this house!

kaz84

noscrazy said:

kaz84 said:

noscrazy said:

Hi all, long time stalker here. Applied through my MB on 27th May with a DIP issued the same day, see below for my progress:

Valuation appointment - 27/05/2022 at 12:41pm

Passed to Mortgage Centre - 27/05/2022 at 7:45am

Underwriter decision: agreed - 26/05/2022 at 3:32pm

Passed to underwriting - 26/05/2022 at 1:40pm

Valuation instructed - 26/05/2022 at 1:40pm

Application Received - 26/05/2022 at 11:44am

So it looks like my mortgage was agreed within 24hrs subject to valuation!? That is incredibly quick! Me and my partner are both FTB with no bad debt/credit history and neither of us self employed so a straightforward application.

Valuation is booked in for Monday 6th June and I'm absolutely paranoid about down valuation!! We don't have enough money saved to cover any down valuations so I'm praying it goes OK!

Hey! I hear you!
so at the moment presumably status is Agreed Subject to Valuation?

good luck tomorrow! Please let us know how you get on with the valuation.

Mine’s is In London and due Friday 10th (3 weeks after a Full Application) and the wait is agonising. I’m also paranoid about a down valuation. Like you, I’ve no further funds for such scenario and have read threads today that nearly 60% of properties are down valued lately and it’s freaking me out. 

Just heard back, downvalued to £190k from £200k. No reason given but the mortgage advisor think it's the lack of sales history in the area Phoned the estate agent and she is going to see what she can do, hopefully we don't lose this house!

Ahh, dammmmm! That’s so frustrating! I’m sorry to hear that. Hopefully you can renegotiate price with the seller and ending up with downvaluation working in your favour ! Keeping fingers crossed for you!

iron-ing-lady

So I think this might be one quickest application to offer on here:

Application: 31st May via Trussle

Credit check and underwriting: 1st June

Valuation: 3rd June

Mortgage offer email: 4th June

So, 5 days with 3 of the being bank holidays or weekend!

Does anyone know if we can have a copy of the valuation report from Santander? A clause in the offer tells us to look at the valuation report but we have not received it. 

Thank you

Anonymou55e

Santander were swift with my application 

02/06 - Application submitted via broker
02/06 - Credit Check & Valuation Instructed
06/06 - Valuation Received
07/06 - Passed to underwriting
08/06 - Offer Issued

6 days all in - including 2 days bank holiday and the weekend! 

kaz84

iron-ing-lady said:

So I think this might be one quickest application to offer on here:

Application: 31st May via Trussle

Credit check and underwriting: 1st June

Valuation: 3rd June

Mortgage offer email: 4th June

So, 5 days with 3 of the being bank holidays or weekend!

Does anyone know if we can have a copy of the valuation report from Santander? A clause in the offer tells us to look at the valuation report but we have not received it. 

Thank you

Holy Moly! Congrats!!