Santander mortgage timeline

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!

How’s the renegotiation going?

kaz84

Anonymou55e said:

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! 

Nice one! 

Did Santander request any info?

noscrazy

kaz84 said:

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!

Unfortunately we lost the house. Seller through a complete hissy fit and took it off the market, didn't even give us a chance to negotiate. Oh well, the hunt continues  

iron-ing-lady

kaz84 said:

Anonymou55e said:

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! 

Nice one! 

Did Santander request any info?

Nope, we gave the usual bank statements, payslips, proof of deposit to Trussles and that was it!  

Anonymou55e

kaz84 said:

Anonymou55e said:

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! 

Nice one! 

Did Santander request any info?

Same as iron-ing-lady- bank statements, payslips and proof of deposit. Nothing further 

kaz84

Thanks all!
sorry to hear @noscrazy - truly sucks!

my valuation is today. Let’s see. It’s been long 3 weeks of painful wait.

pipscat

kaz84 said:

Anonymou55e said:

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! 

Nice one! 

Did Santander request any info?

We only had to send off payslips at the beginning of the application - they didn't request anything else from us. Just a query on my name as we got married last year and some things are still in my maiden name, but we sent the marriage certificate along with payslips  

esubbs

Here to join in now we have finally had an offer accepted on a house (it's only taken 15 months).
Applied online and initial DIP on Friday 10th June
Full online application once solicitor instructed on the evening of Monday 13th, requested info (payslips and bank statement) uploaded immediately.

Should be straightforward as it's 55% LTV and roughly 35% of our max borrowing, pretty perfect credit files. So the wait begins...

kaz84

Just an update - mortgage offer just came through! FTB 95% LTV, London.

So full timeline is:

- Full application with existing AIP 19May2022
- valuation instructed on 20May2022 for 10June2022.
- documents requested 20th & 23rd May.
- valuation done on 10th June 2022
- mortgage issued 15th June 2022!

maton91

Been very quick for me so far with Santander (I'm a FTB -85% LTV)

Offer accepted (£230k) - 14th June

Details submitted to broker - 14th June

Santander reccomended - 15th June

Documents received - 17th June
Declaration signed - 18th June

Mortgage valuation - 21st June

Once Tuesday is done with the mortgage valuation all should fly through all being well! Just hope it's not a down value...