Santander mortgage timeline

Mononoke87

newhomechris said:

Dreams can come true 😁

Congratulations!!! 
Hoping for good news this week too.

NatNat77

Forgot about MSE Credit Club! I can see a search was done by santander on the 6th. I think it's a hard search as it says it could impact my score? 

newhomechris

Btoni said:

newhomechris said:

Dreams can come true 😁

Congratulations! What date did you apply? 

My case went on a bit really.  My application went in on 24th August and valuation was done on 28th.  It was in a very long queue for underwriting and then a series of questions came back and forth a couple of weeks ago.  On Friday I was told by my broker that it had passed underwriting and valuation and this morning I got the written offer.  In total, it’s been 8 weeks today since my application went in.  Somewhere along the line, Santander made an error with the fixed term which held things up.  Worth it all in the end......  I have been grateful for the support and camaraderie of this forum 😁

Airplanepics

We had our valuation back today and they've undervalued our new build by 20k - no other properties have had this problem so we've asked Santander for a 2nd opinion / 2nd survey. They should hopefully come back ok and then our offer will be issued
So close, yet so far! 

jhub68

At what point in the process does the valuation happen? As I've got mine this Friday. Would the underwriters have done most of their checks before this point?

newhomechris

jhub68 said:

At what point in the process does the valuation happen? As I've got mine this Friday. Would the underwriters have done most of their checks before this point?

I’m pretty sure that Santander instruct the valuation at the start of the process before they do the underwriting side of things. That’s how it happened with me. Once they’ve agreed the mortgage underwriting, they then look at the valuation as the last stage before offer. 

TottieW

Update: I've finally reached the front of the underwriting queue. I'm self employed and they want extra info from my accountant, now being provided.

fastbs

We’ve just had our text through confirming they have received the application. Fingers crossed it all goes okay from here! 

newhomechris

fastbs said:

We’ve just had our text through confirming they have received the application. Fingers crossed it all goes okay from here! 

I personally really feel for everyone who is in the application process at the moment. It’s been the most anxious time of the last ten years of my life but I think that everything about their decision making is fair and transparent. I hope you get the answers you need 😁

Thrugelmir

Airplanepics said:

We had our valuation back today and they've undervalued our new build by 20k - no other properties have had this problem so we've asked Santander for a 2nd opinion / 2nd survey. They should hopefully come back ok and then our offer will be issued
So close, yet so far! 

Santander are unlikely to have the property revalued. The surveyor has performed the task that was requested of them.