Santander mortgage timeline

1616six

Nuri123 said:

1616six said:

Nuri123 said:

You know when it goes to the underwriters, how long does it take for them to make a decision?

We were notified 19th July it was sent to underwriting, and had our initial acceptance today. 

Just wondering how how long it’ll take to get the ‘formal offer’

Did they ask for anything from the 19th until today?

Literally nothing! 

We applied with the broker on 6th July

She emailed us on 19th saying she’d been notified it’s now with underwriting as of then

She then emailed us to on 25th July to say the valuation survey had been booked for the 29th 

She then emailed today with the confirmation that it had been fully approved by the underwriter subject to satisfactory valuation and that she’ll let us know when that’s done; which will follow with formal offer

Nuri123

On the 14th July broker was asked for my wife's name and DOB as she would be living with me but won't be on the mortgage and my broker argued today that we were asked for information on the 14th and why hasn't it been looked at since then, it's just baffling how long it's taking 

1616six

Nuri123 said:

On the 14th July broker was asked for my wife's name and DOB as she would be living with me but won't be on the mortgage and my broker argued today that we were asked for information on the 14th and why hasn't it been looked at since then, it's just baffling how long it's taking 

Hopefully it comes through soon! 

Are you in a chain?

We are FTB currently renting, had an email from our solicitor last week to say they hadn’t heard anything from the estate agent so could I chase them. I phoned the EA who said they won’t send anything to the solicitor to start searches etc until the vendor has had an offer accepted on another house. 

I wasn’t aware that they hadn’t found anywhere so that’s annoying but at the same time we’re in no rush, however as we will all be feeling the same here.. you just want it to all be done!

Im due an update call from the agent tomorrow so hopefully they’ve found somewhere in the last week…

Nuri123

1616six said:

Nuri123 said:

On the 14th July broker was asked for my wife's name and DOB as she would be living with me but won't be on the mortgage and my broker argued today that we were asked for information on the 14th and why hasn't it been looked at since then, it's just baffling how long it's taking 

Hopefully it comes through soon! 

Are you in a chain?

We are FTB currently renting, had an email from our solicitor last week to say they hadn’t heard anything from the estate agent so could I chase them. I phoned the EA who said they won’t send anything to the solicitor to start searches etc until the vendor has had an offer accepted on another house. 

I wasn’t aware that they hadn’t found anywhere so that’s annoying but at the same time we’re in no rush, however as we will all be feeling the same here.. you just want it to all be done!

Im due an update call from the agent tomorrow so hopefully they’ve found somewhere in the last week…

Yes I'm in a chain but the same estate agent is dealing with the sale of my house and the purchase of the house I want to buy so I'm not concerned in that respect but the seller solicitor has already sent a copy of the contract to my solicitor and we haven't even done the searches yet as I want to know about the mortgage first before jumping the gun.

Optimistim_13

Nuri123 said:

Optimistim_13 said:

Mine got passed to the underwriters on the 22nd July.

Did you get a response yet?

Yes , broker updated yesterday we have passed all checks and are just waiting on our offer to be released

star133

Our broker today has informed us that Santander have given further delays today….. I’m so stressed it’s now been 7 weeks since this was submitted!!

Nikki114

We were asked today about a transaction on our bank statements and we had to respond within 4 days the broker already knew this would be asked so was able to respond immediately - no doubt that will mean nothing and we will be back at the back of the underwriting queue so here's to waiting for god knows how long 🙄

1616six

Nikki114 said:

We were asked today about a transaction on our bank statements and we had to respond within 4 days the broker already knew this would be asked so was able to respond immediately - no doubt that will mean nothing and we will be back at the back of the underwriting queue so here's to waiting for god knows how long 🙄

Without sounding nosey, what was the nature of their query?

Only reason I ask is like I’ve mentioned in prior posts, I was fully prepared to be grilled as I’ve had to change cars 3 times this year due to bad luck so within the statements I’ve sent in, I had 3 transactions of over 6k entering my bank then leaving again from selling my car then buying another! I thought that would have certainly been queried but they’ve approved without a single question.

star133

1616six said:

Nikki114 said:

We were asked today about a transaction on our bank statements and we had to respond within 4 days the broker already knew this would be asked so was able to respond immediately - no doubt that will mean nothing and we will be back at the back of the underwriting queue so here's to waiting for god knows how long 🙄

Without sounding nosey, what was the nature of their query?

Only reason I ask is like I’ve mentioned in prior posts, I was fully prepared to be grilled as I’ve had to change cars 3 times this year due to bad luck so within the statements I’ve sent in, I had 3 transactions of over 6k entering my bank then leaving again from selling my car then buying another! I thought that would have certainly been queried but they’ve approved without a single question.

I think it depends on what underwriter you have , we have had a fairly picky one.

our chain wanted to exchange & complete this week and we are holding everyone up 😫

Nuri123

Optimistim_13 said:

Nuri123 said:

Optimistim_13 said:

Mine got passed to the underwriters on the 22nd July.

Did you get a response yet?

Yes , broker updated yesterday we have passed all checks and are just waiting on our offer to be released

Congratulations 👍