Santander mortgage timeline

Fendal71

SenseandSensibility said:

newhomechris said:

SenseandSensibility said:

newhomechris said:

SenseandSensibility said:

Received an update today confirming that our application has reached the valuation stage, pending a day to be booked! We’re relieved at how quickly it’s progressed considering it was submitted on Thursday evening (15.10), here’s hoping it will continue! 

I hate to burst your bubble but having been through the whole process now, I have a good understanding of what their process is.  My application was submitted and acknowledged with a text from Santander on 24th August, my valuation was completed on 28th August.  I received my offer confirmation text last Monday, 12th October.  Four weeks before that I was told I was in the queue for final underwriting checks.  They may have sped up their process now but my broker told me that they do all of the valuations at the start of the process and don’t even look at them until after the final underwriting checks have been done.  I think you might still have a wait on your hands.
During this process, I was very anxious and spent nearly two months looking at this forum every day and looking at the Santander website for updates on their service levels etc.  Now that I have my offer and am exchanging tomorrow etc, I guess I feel differently about it, but if I had known at the time that it’s just a case of sitting tight and trying to get on with my life while they do their thing, I think I would have had a lot fewer sleepless nights.  
I hope your application progresses faster than mine and I really hope you get what you are looking for.

Thank you very much for sharing your experience of the process. My MB seems to think that this is a good sign (apparently the conduct credit and affordability checks before progressing to this stage?), but after reading your comment, I’m now quite confused! 

From what I understand, your MB is correct. They definitely pre-qualify every application. I think at the moment, the final underwriting stage is a bit more in depth than it was in ‘the old days’ before the apocalypse. But I was certainly told, when I put the full application in, that if you have an AIP, you’ve’ got a better than even chance of getting an offer so long as the info that made up your application checks out. I’m sure you will be fine. I can only remember reading about one or two actual declines during the hundreds of pages of this forum!!!!

Thanks for replying, that’s reassuring to know. I’m quite surprised though because I checked my credit file this afternoon and there were no hard/soft searches mentioned. We also didn’t our AIP with Halifax, but were advised that Santander would be the better lender to apply to instead. Our MB also advised the process would be 3-4 weeks at the moment, so I’m confused as to why it’s taking some applications 6 weeks +

I think you will be ok just because I remember your employment situation for both of you which is similar to mine, and you’ve not been impacted by COVID as sadly others have,( assuming of course your a straightforward case) it would also appear that self employed, furlough etc appear to be taking longer due to additional checks. So 3-4 weeks is a realistic timeframe 😊

SenseandSensibility

@Fendal71 Thank you, I really hope so! We signed a reservation agreement stipulating exchange of contracts after 28 days ( Nov 9th), so it’s quite important that we get everything sorted before then! 

xNaomi

skybluez said:

Hi everyone, I've been following this thread a little over the past week. Our application was submitted via a broker on 30/09, I had the confirmation text & email on that day and can see the hard search same day. We've had no updates yet. I'm just wondering, those of you with brokers, do you/did you get texts & emails from Santander whenever your application progressed? E.g. with underwriters, valuation etc - or did you only hear via your broker? We checked in with him last week and there was nothing to report - but I'm not sure if that means no offer or refusal to report, or whether there's literally been no movement since the application! I don't want to badger him too much so thought I'd check here first before we check in later this week. 

We only got a text/email from Santander when we applied then again when our mortgage was offered. Nothing inbetween with them. Our broker let us know when valuation was booked

Lorenzo94

Anyone who applied for a new build flat with 20% deposit can give me any time frame? I work in transport so my income hasn’t changed at all, but my friend got back form furlough in September (so august and July payslips will be furlough, and September is full pay).

any advise on what they may ask?

FTBMish

newhomechris said:

SenseandSensibility said:

Received an update today confirming that our application has reached the valuation stage, pending a day to be booked! We’re relieved at how quickly it’s progressed considering it was submitted on Thursday evening (15.10), here’s hoping it will continue! 

I hate to burst your bubble but having been through the whole process now, I have a good understanding of what their process is.  My application was submitted and acknowledged with a text from Santander on 24th August, my valuation was completed on 28th August.  I received my offer confirmation text last Monday, 12th October.  Four weeks before that I was told I was in the queue for final underwriting checks.  They may have sped up their process now but my broker told me that they do all of the valuations at the start of the process and don’t even look at them until after the final underwriting checks have been done.  I think you might still have a wait on your hands.
During this process, I was very anxious and spent nearly two months looking at this forum every day and looking at the Santander website for updates on their service levels etc.  Now that I have my offer and am exchanging tomorrow etc, I guess I feel differently about it, but if I had known at the time that it’s just a case of sitting tight and trying to get on with my life while they do their thing, I think I would have had a lot fewer sleepless nights.  
I hope your application progresses faster than mine and I really hope you get what you are looking for.

I needed to hear this today. I need to chill out and be patient!

IMsaver

EA started chasing mortgage application today! Very stressful to have them breathing down your neck, i think it's really unfair to keep you in the dark about where your application is up to 4 weeks, we haven't heard anything. Did anyone have any luck in escalating the case if vendors are getting shirty?

foreverhome_89

newhomechris said:

SenseandSensibility said:

Received an update today confirming that our application has reached the valuation stage, pending a day to be booked! We’re relieved at how quickly it’s progressed considering it was submitted on Thursday evening (15.10), here’s hoping it will continue! 

I hate to burst your bubble but having been through the whole process now, I have a good understanding of what their process is.  My application was submitted and acknowledged with a text from Santander on 24th August, my valuation was completed on 28th August.  I received my offer confirmation text last Monday, 12th October.  Four weeks before that I was told I was in the queue for final underwriting checks.  They may have sped up their process now but my broker told me that they do all of the valuations at the start of the process and don’t even look at them until after the final underwriting checks have been done.  I think you might still have a wait on your hands.
During this process, I was very anxious and spent nearly two months looking at this forum every day and looking at the Santander website for updates on their service levels etc.  Now that I have my offer and am exchanging tomorrow etc, I guess I feel differently about it, but if I had known at the time that it’s just a case of sitting tight and trying to get on with my life while they do their thing, I think I would have had a lot fewer sleepless nights.  
I hope your application progresses faster than mine and I really hope you get what you are looking for.

This is very good advice. We submitted on the 28th July. Took 11 weeks to get our offer.  I obsessed daily and read very comment. Looking back now I wish I hadn’t stressed so much it will all work out in the end.  

TottieW

foreverhome_89 said:

This is very good advice. We submitted on the 28th July. Took 11 weeks to get our offer.  I obsessed daily and read very comment. Looking back now I wish I hadn’t stressed so much it will all work out in the end.  

You definitely win the longest-time-to-offer prize, but you're quite right. I've been quite obsessive. It's not healthy. People waiting for the underwriter's queue just need to know it will take at least 4 weeks before you hear anything, and then they will take several days to respond to each extra piece of info supplied. I wish I'd been more chilled (even though, in fact, we're not there yet, and may not get our offer for the full amount...). 

newhomechris

IMsaver said:

EA started chasing mortgage application today! Very stressful to have them breathing down your neck, i think it's really unfair to keep you in the dark about where your application is up to 4 weeks, we haven't heard anything. Did anyone have any luck in escalating the case if vendors are getting shirty?

I did manage to get mine escalated a couple of times due to the length of time I had been waiting.  All of that was a bit of a lottery though, even though my MA was all over it.

newhomenovice

Hello,

Our MB applied to Santander 07/10, had the text to confirm but this is all we have heard so far. However, I have seen that Santander have pulled the 85% LTV 2 -Year Fixed Term mortgage today, which is the mortgage we have applied for. Does anybody know whether the fact we have already applied for this mortgage means we will be okay? Our MB is out of office so can't even ask her for reassurance! I hate the waiting game!!