Santander mortgage timeline

NatNat77

NatNat77 said:

Fendal71 said:

NatNat77 said:

I've just had my phone appointment with santander and all is looking good but it will need to go to the underwriters as hubby is self employed and our mortgage is flexible, he said we should hear something from them by the middle of next week. I queried that as the timeline on their website obviously says very different and they are apparently looking at applications passed to them on 16 September-he was very surprised at that and told me they're actually looking at applications from 6 October and there are only 8 left from that date! So I thought it might give you some hope as it certainly made me feel better 😆 I said they might want to investigate that as there are many people on here and probably everywhere that are checking those timeframes incessantly, including me lol! 

Hi, Are you sure this is right? whilst they might be looking at initial applications from the 6th October, they are then passed to the underwriter queue which is currently stating they are looking at applications from the 16th September (I'm patiently waiting for the 18th September) and I'm a pretty straightforward case - so my broker tells me, so slightly concerned as to what is causing my delay if what your saying is correct!  

I'm 100% certain that is what he said as I then queried it, maybe it is because I already have a mortgage with them and I'm not using a broker? But he never said either of those things make a difference and I didn't ask to be fair. I believed him as he gave me the date and number of applications outstanding, and it does fit with the timeline I was given originally. I guess I'll find out next week! 

Oh, and we were talking about the underwriting stage at the time so I don't think the two things were confused. I'll update this thread as I go along 

IMsaver

TottieW said:

Congrats! I remember you saying you were self employed and took SEISS, did they give you the full mortgage offer amount you requested? I keep hearing if you took the SEISS, they say your latest year earnings are whatever the help was (which is ridiculous!) My partner hasn't even used it so is happy to give back if it's an issue.

I haven't spent mine either, but I don't think that is the issue, and I'm pretty sure that giving it back won't help. They don't have an issue with taking the *first* SEISS payment, just the second one. It's a bit odd, as to be eligible for the SIESS your income only has to be reduced, not nil. In my case, they wanted evidence I was back to earning normally. They asked for a statement from my accountant to say what she thought my earnings for the year would be -- which she said she couldn't do as it would be plucking a figure out of the air. We compromised and I sent her my accounts thus far for this year and my contracts, and she stated what my already-contracted earnings for the year would be. Hoping that does the trick.

Hmmm. My partner only took the 1st help and then the mortgage broker said “just don’t take the second!” So maybe we’ll be okay haha. My partner is a sole trader so doesn’t have an accountant, not sure how we’ll provide evidence but he’ll be making more money next year then this year for sure due to natural growth. We’ll just have to wait and see, fingers crossed for you 😀

ftbjfs

Hi, just to share my experience as sounds similar to others.
Applied for mortgage on 1st September and received SMS. Valuation was complete on 15th September. Went to underwriters on 5th October and they asked Qs to see one months bank statement and proof of deposit which we sent. They came back on 12th October and asked some Qs about both which were straightforward and answered. Now we await a response.....
Any idea when we will next hear!?

TottieW

ftbjfs said:

Any idea when we will next hear!?

It looks like it's taking 5-6 days to respond to each new document or answer supplied. I sent new info on the 13th, so am imagining that I'll hear again at the beginning of next week (although not necessarily with an offer)

ftbjfs

TottieW said:

ftbjfs said:

Any idea when we will next hear!?

It looks like it's taking 5-6 days to respond to each new document or answer supplied. I sent new info on the 13th, so am imagining that I'll hear again at the beginning of next week (although not necessarily with an offer)

Thanks. I am hoping that it will be an offer for us. They have seen all of our docs, valuation etc and have come back asking specific qs twice. I am assuming that they wouldn't be asking specific details if they weren't happy re affordability and valuation etc. What you think?

Fendal71

I’ve just had a phonecall from my broker that my mortgage has been agreed by the underwriters today 🥳🥳🥳 delighted!!! Fingers crossed others will get the same good news that have also been patiently waiting 😊

NatNat77

Fendal71 said:

I’ve just had a phonecall from my broker that my mortgage has been agreed by the underwriters today 🥳🥳🥳 delighted!!! Fingers crossed others will get the same good news that have also been patiently waiting 😊

Fantastic news, congrats! So how long was your process from start to finish? 

Fendal71

NatNat77 said:

Fendal71 said:

I’ve just had a phonecall from my broker that my mortgage has been agreed by the underwriters today 🥳🥳🥳 delighted!!! Fingers crossed others will get the same good news that have also been patiently waiting 😊

Fantastic news, congrats! So how long was your process from start to finish? 

Thank you 😊

AIP - 11th September
full app - 14th September (and survey, but used home report)
Underwriter - 18th September
Formal  offer issued today - 14th October
all in all 24 working days 😊

davetherave85

Does anyone know if underwriting is quicker direct? I.e not through a broker?

Also, those who are sole traders have they been asking you for bank statements or are they fine with the accountants certificate? 

Thanks! 

NatNat77

davetherave85 said:

Does anyone know if underwriting is quicker direct? I.e not through a broker?

Also, those who are sole traders have they been asking you for bank statements or are they fine with the accountants certificate? 

Thanks! 

My hubby has his own Ltd company but they treat that as self employed, all they've asked for so far is an accountants certificate. I've had a text this afternoon to say our application has been reviewed and has been passed to the underwriters so it's possible they will want further evidence. We're not using a broker so I'm not sure if it goes to underwriting faster either way