Santander mortgage timeline

helpmegodplease

fastbs said:

We just had an update from our MB, they have checked all documents etc and have said our mortgage is approved subject to the valuation. This is booked for Friday so he is expecting us to receive an offer late next week... judging by everyone else’s experience I am not too sure! 

Hopefully that means I’ll hear something this week too 🙈😂 won’t hold my breath xx

fastbs

helpmegodplease said:

fastbs said:

We just had an update from our MB, they have checked all documents etc and have said our mortgage is approved subject to the valuation. This is booked for Friday so he is expecting us to receive an offer late next week... judging by everyone else’s experience I am not too sure! 

Hopefully that means I’ll hear something this week too 🙈😂 won’t hold my breath xx

I will keep my fingers crossed for you! Xx

Meh123

fastbs said:

We just had an update from our MB, they have checked all documents etc and have said our mortgage is approved subject to the valuation. This is booked for Friday so he is expecting us to receive an offer late next week... judging by everyone else’s experience I am not too sure! 

No, that sounds good!! Your mortgage is approved subject to valuation, they just need the valuation amount and as long as it’s not under then you’re good to go!! Did you go direct? Valuations seem to be done at different stages for different people. We used MB and our valuation has already been done, even though our application hasn’t even been assessed yet, let alone joined the UW queue!! 

mcmule86

Original Mortgage applies 24th September. Valuation on the 30th. MB escalated on 3 week mark and the offer got issued on the 16th Oct. 

However house was pulled and now need to transfer or reapply for a HTB mortgage. Any indication on how long these are taking? Not yet applied new build completion end of Nov.

thanks in advance 

fastbs

Meh123 said:

fastbs said:

We just had an update from our MB, they have checked all documents etc and have said our mortgage is approved subject to the valuation. This is booked for Friday so he is expecting us to receive an offer late next week... judging by everyone else’s experience I am not too sure! 

No, that sounds good!! Your mortgage is approved subject to valuation, they just need the valuation amount and as long as it’s not under then you’re good to go!! Did you go direct? Valuations seem to be done at different stages for different people. We used MB and our valuation has already been done, even though our application hasn’t even been assessed yet, let alone joined the UW queue!! 

No we applied through a MB, I’m not too sure why it’s all come back so quickly! He said they have approved everything to do with us personally and now just relying on the valuation. He said the valuation will be carried out and then the report will then be assessed and final checks will be done. He said there is a chance that they will still ask some more questions (can’t guarantee anything) but like I said he is expecting an offer next week.

He said Santander tend to do the valuation last as it costs them money but as I’ve already read and with your experience, this isn’t always the case so I guess we will see!

jhub68

Update - FMA submitted on the 26/9 was told it had been passed to UW on 6/10 and Valuation happened on the 16/10. Had no questions yet so I assume just a waiting game. The MB has been quiet, so don't know if I should chase them yet as still under the 20 workday processing time.

Meh123

fastbs said:

No we applied through a MB, I’m not too sure why it’s all come back so quickly! He said they have approved everything to do with us personally and now just relying on the valuation. He said the valuation will be carried out and then the report will then be assessed and final checks will be done. He said there is a chance that they will still ask some more questions (can’t guarantee anything) but like I said he is expecting an offer next week.

He said Santander tend to do the valuation last as it costs them money but as I’ve already read and with your experience, this isn’t always the case so I guess we will see!

I’m starting to think it depends on what sort of valuation you need. Ours was desktop, so really simple. I suppose if they need to physically send someone out it makes more sense to leave it till the end of the process!
either way, the end is near for you! I’ve resigned myself to not knowing till December, I should be rocking back and forth in a corner by that stage hahaha 

fastbs

Meh123 said:

fastbs said:

No we applied through a MB, I’m not too sure why it’s all come back so quickly! He said they have approved everything to do with us personally and now just relying on the valuation. He said the valuation will be carried out and then the report will then be assessed and final checks will be done. He said there is a chance that they will still ask some more questions (can’t guarantee anything) but like I said he is expecting an offer next week.

He said Santander tend to do the valuation last as it costs them money but as I’ve already read and with your experience, this isn’t always the case so I guess we will see!

I’m starting to think it depends on what sort of valuation you need. Ours was desktop, so really simple. I suppose if they need to physically send someone out it makes more sense to leave it till the end of the process!
either way, the end is near for you! I’ve resigned myself to not knowing till December, I should be rocking back and forth in a corner by that stage hahaha 

Ahhh yeah maybe, that makes sense. Ours is a physical one as the EA rang to let me know. 

I thought the exact same thing! But you never know. I’ll keep my fingers crossed for you that it doesn’t take that long!

xNaomi

Our valuation was physical and was on 30-Sep then we received our offer on 05-Oct so I would assume all checks were done before the valuation then it was the last thing to be done before issuing the offer. We are buying a new build in NI

fastbs

 xNaomi said:

Our valuation was physical and was on 30-Sep then we received our offer on 05-Oct so I would assume all checks were done before the valuation then it was the last thing to be done before issuing the offer. We are buying a new build in NI

Yes it makes sense for it to be done that way as the have to pay for the valuation, and it would be silly to do that without make sure we are acceptable lenders first! It says in the mortgage guide that the valuations are carried out and then proceed to offer providing everything is okay, so it’s confusing that some people have had it the opposite way round!

I’ll keep everyone updated when we next hear something