Santander mortgage timeline

Airplanepics

Thrugelmir said:

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. 

A 2nd valuation has been booked in for a 2nd opinion. They’re not sure what the issue is as other properties next door etc have been valued at the correct price.

Everyone is confident that it all go through the 2nd time. 

Airplanepics

Just to add - this is at the developers expense.

NatNat77

Fingers crossed for the second valuation! 

frogeye

Thought I should join this thread as currently waiting for decision on Santander mortgage.  Applied beginning September, valuation soon after, passed to first stage underwriters then as well.  Had some questions at the end of last week from the final underwriters, now waiting and waiting! I'm glad it's Monday though as feel I have a few days ahead of me when things might happen.  I now hate Fridays! I have followed this thread for a while and glad to see that some are getting their offers through.  The waiting is so difficult.

TottieW

frogeye said:

Thought I should join this thread as currently waiting for decision on Santander mortgage.  Applied 03/09, valuation 11/09, passed to first stage underwriters 11/09.  Had some questions at the end of last week from the final underwriters, now waiting and waiting! I'm glad it's Monday though as feel I have a few days ahead of me when things might happen.  I now hate Fridays! I have followed this thread for a while and glad to see that some are getting their offers through.  The waiting is so difficult.

Argh, we applied a week later. I hope once today's question is answered they are all happy and it's not a huge extra wait, but I'm not holding my breath. It's true - it's so incredibly stressful being forced to plan a move and a house purchase which might not happen!! Helpfully my landlord has decided to sell the property I'm living in, just to add to the ticking clock!!!

frogeye

TottieW said:

Argh, we applied a week later. I hope once today's question is answered they are all happy and it's not a huge extra wait, but I'm not holding my breath. It's true - it's so incredibly stressful being forced to plan a move and a house purchase which might not happen!! Helpfully my landlord has decided to sell the property I'm living in, just to add to the ticking clock!!!

It's so stressful isn't it? Hopefully you will hear soon and the getting mortgage part of the house move will be a distant memory! 

IMsaver

Review of underwriting applications has jumped by 2 days since yesterday, now on the 16th! We have a long way to go as I think ours was sent to the underwriter on the 25th or 28th September (applied on 22nd). Good luck everyone! 😀😀

Mononoke87

IMsaver said:

Review of underwriting applications has jumped by 2 days since yesterday, now on the 16th! We have a long way to go as I think ours was sent to the underwriter on the 25th or 28th September (applied on 22nd). Good luck everyone! 😀😀

It does feel like they sit on the same day for ages! 😑
We applied on 29/08, waiting for underwriters since 24/09. 
Vendors EA started chasing us now 😥 I really hope the queue move up a bit quicker... 

TottieW

It does feel like they sit on the same day for ages! 😑
We applied on 29/08, waiting for underwriters since 24/09. 
Vendors EA started chasing us now 😥 I really hope the queue move up a bit quicker... 

I think all the mortgage companies are going super slowly at the moment. Our sales progression lady seems quite understanding about the delay...

fastbs

Our MB has already asked us questions about how cv19 has affected our income.. think they are preparing for that question to be asked! My OH is SE and had a bounce back loan as a pre-caution at the start of lock down, wasn’t needed in the end as his income wasn’t affected in anyway. Has anyone experienced any issues with this that we should be prepared for? He has said he will pay it off if it is going to affect things.