Santander mortgage timeline

ftbjfs

newhomenovice said:

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!!

I think they have only pulled it for new applicants. I believe that your application stands for the rate that did exist. Not 100% though

foreverhome_89

TottieW said:

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...). 

Ours was similar in they offered us a reduced amount but we got the full amount we wanted in the end fingers crossed for you 

Fendal71

newhomenovice said:

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!!

Your rate will be locked in at point of application, so you should be ok. I applied for the same deal in September when the rate was slightly lower and got the rate I was expecting.

IMsaver

Just spoke to MB, apparently Santander haven’t been able to get hold of the EA to do a valuation. Good job I chased our MB, who knows how long they have been trying to organise a valuation. Don’t know who is at fault here, Santander, EA or MB! If you haven’t had an update, pester your MB as they are likely not checking properly when you ask as per our situation just now. Hope the valuation can be done soon, Santander said underwriter should be looking at ours in the next few days!

MatthewB21

IMsaver said:

Just spoke to MB, apparently Santander haven’t been able to get hold of the EA to do a valuation. Good job I chased our MB, who knows how long they have been trying to organise a valuation. Don’t know who is at fault  here, Santander, EA or MB! If you haven’t had an update, pester your MB as they are likely not checking properly when you ask as per our situation just now. Hope the valuation can be done soon, Santander said underwriter should be looking at ours in the next few days!

What date did you apply? We went on 21st and still not heard anything for about 3 weeks now.

IMsaver

MatthewB21 said:

IMsaver said:

Just spoke to MB, apparently Santander haven’t been able to get hold of the EA to do a valuation. Good job I chased our MB, who knows how long they have been trying to organise a valuation. Don’t know who is at fault  here, Santander, EA or MB! If you haven’t had an update, pester your MB as they are likely not checking properly when you ask as per our situation just now. Hope the valuation can be done soon, Santander said underwriter should be looking at ours in the next few days!

What date did you apply? We went on 21st and still not heard anything for about 3 weeks now.

We applied on 22nd September, passed to underwriter on the 28th September. Just been told the surveyor had the wrong phone number for the EA so now the valuation has finally been booked in for the 2nd November. Have been told underwriters should review in next few days and hopefully everything will align.

MatthewB21

IMsaver said:

MatthewB21 said:

IMsaver said:

Just spoke to MB, apparently Santander haven’t been able to get hold of the EA to do a valuation. Good job I chased our MB, who knows how long they have been trying to organise a valuation. Don’t know who is at fault  here, Santander, EA or MB! If you haven’t had an update, pester your MB as they are likely not checking properly when you ask as per our situation just now. Hope the valuation can be done soon, Santander said underwriter should be looking at ours in the next few days!

What date did you apply? We went on 21st and still not heard anything for about 3 weeks now.

We applied on 22nd September, passed to underwriter on the 28th September. Just been told the surveyor had the wrong phone number for the EA so now the valuation has finally been booked in for the 2nd November. Have been told underwriters should review in next few days and hopefully everything will align.

Fingers crossed we’re the same then! Our valuation was done and that’s the last update MB has got from Santander, hopefully we’ll hear something by end of the week.

NatNat77

We've had to pay santander £940 for our valuation but they won't book it until the underwriters have approved it so hoping that doesn't hold things up. Seems you follow a different route depending on whether you're moving an existing mortgage, as we are, or you're a new applicant, are self employed and if you're using a broker or not. I'm trying to relax about it but there's so much at stake it's hard to 

SenseandSensibility

NatNat77 said:

We've had to pay santander £940 for our valuation but they won't book it until the underwriters have approved it so hoping that doesn't hold things up. Seems you follow a different route depending on whether you're moving an existing mortgage, as we are, or you're a new applicant, are self employed and if you're using a broker or not. I'm trying to relax about it but there's so much at stake it's hard to 

Heavens, how come you had to pay so much for your valuation? We thought a major benefit with Santander was that their valuations were free! We’re both fully employed (NHS key workers) using the HTB scheme and applied via an MB. We felt really uplifted yesterday after receiving confirmation that our valuation has been booked for Friday, but it seems they are apparently doing them in bulk before sending applications to the underwriter queue, so now we’re not too sure 😞. It seems no one has had the same experience. 

NatNat77

SenseandSensibility said:

NatNat77 said:

We've had to pay santander £940 for our valuation but they won't book it until the underwriters have approved it so hoping that doesn't hold things up. Seems you follow a different route depending on whether you're moving an existing mortgage, as we are, or you're a new applicant, are self employed and if you're using a broker or not. I'm trying to relax about it but there's so much at stake it's hard to 

Heavens, how come you had to pay so much for your valuation? We thought a major benefit with Santander was that their valuations were free! We’re both fully employed (NHS key workers) using the HTB scheme and applied via an MB. We felt really uplifted yesterday after receiving confirmation that our valuation has been booked for Friday, but it seems they are apparently doing them in bulk before sending applications to the underwriter queue, so now we’re not too sure 😞. It seems no one has had the same experience. 

I think because we're porting our mortgage and we have a flexible tracker, it does seem a lot though. Maybe because of the value of the property? I think they might be doing your valuation in conjunction with the underwriting process so it speeds things up for you. We need to get our offer approved first as if it isn't they'll refund us