Santander mortgage timeline

NatNat77

Congrats to everyone who has had their offers in the last couple of days too! 

Meh123

FTBMish said:

So scrap what I said before about being confused. 
Mortgage has been approved, just had the text. Yay

This is awesome!!! That was a super quick turn around for you....now you can relax!! We only went in the UW queue yesterday due to him being SE, been told it’ll be end of November before we hear anything!! 

davetherave85

How long did it take to get the offer pack through in the post after the mortgage offer was confirmed via email for others?

My timeline has been:
12/10 DIP
12/10 Full Application
13/10 Docs submitted
21/10 Decision
22/10 Valuation and offer confirmed
Self employed sole applicant

FTB_Help

FTB_Help said:

Submitted our application via MB in the beginning of Oct, 25% deposit, mortgage for 3.3 x our combined salary.

Accepted by underwritter 12 days after application (pending valuation, booked next week) seems like we're moving fairly quickly, prepared myself for a 8 week + wait!

Just had the valuation this morning and got mortgage offer within hours after the valuation! So in total 19 days from application to offer, strangely fast for us

85c

Hi everyone, I’ve just found this forum, and it’s so reassuring to read everyone’s comments, we are self employed, our business grew through covid, and financially are comfortable, took 16 years to get to this point. We just found out our application went to the underwriter on the 7/10/20 we put it in on the 1/10/20. 

We had a terrible experience before Santander, we went with Aldermore and after 11 weeks they gave us an offer then retracted it 2 days later as they said they changed there criteria and we no longer where in it. The reviews for them are awful and very similar to what they did with us. We submitted 3 months bank statements, our accounts the SA03 form and a letter from the accountant. We are laying down 17%. MB has said we should have an update in 6 working days, but who knows. 

Fendal71

SenseandSensibility said:

So we finally received our mortgage offer today! Our turnaround was amazingly quick, as follows:
15/10 Application submitted
19/10 Valuation instructed
23/10 (Physical) valuation done
26/10 Valuation agreed, final checks done by UW.
27/10 Offer received
So all complete within an 8 day turnaround! 

Congratulations!!! Onwards and upwards 😊🥳

frogeye

Congratulations to all those who have recieved offers recently.  Just wondering though if anyone else out there is still waiting ages or is it just me now?! My application went in 03/09, had some questions and back to underwriting queue.  Tbh losing patience somewhat now though!

FTB_Help

frogeye said:

Congratulations to all those who have recieved offers recently.  Just wondering though if anyone else out there is still waiting ages or is it just me now?! My application went in 03/09, had some questions and back to underwriting queue.  Tbh losing patience somewhat now though!

It seems the timing for everyone is random. Mine was really quick 19 days (a week of that was because of the available valuation dates were booked up).

Is your situation a bit more complicated? I.e a large ltv, a large multiple of your income required for mortgage, were you on furlough at any point, are you working in a "risky" sector? Mine was really straight forward, only came back once on a question on stability of my partners job due to covid, he got a payrise during the summer which proved his job was secure, after we submitted that answer, we heard back from the UW a few days later with an acceptance pending valuation

frogeye

FTB_Help said:

frogeye said:

Congratulations to all those who have recieved offers recently.  Just wondering though if anyone else out there is still waiting ages or is it just me now?! My application went in 03/09, had some questions and back to underwriting queue.  Tbh losing patience somewhat now though!

It seems the timing for everyone is random. Mine was really quick 19 days (a week of that was because of the available valuation dates were booked up).

Is your situation a bit more complicated? I.e a large ltv, a large multiple of your income required for mortgage, were you on furlough at any point, are you working in a "risky" sector? Mine was really straight forward, only came back once on a question on stability of my partners job due to covid, he got a payrise during the summer which proved his job was secure, after we submitted that answer, we heard back from the UW a few days later with an acceptance pending valuation

No I don't think is is especially complicated - key worker sector.  We've had two lots of simple questions though which put us back in the queue each time.  Yes, like you say the timing does seem bit random - congrats to you btw!

FTB_Help

frogeye said:

FTB_Help said:

frogeye said:

Congratulations to all those who have recieved offers recently.  Just wondering though if anyone else out there is still waiting ages or is it just me now?! My application went in 03/09, had some questions and back to underwriting queue.  Tbh losing patience somewhat now though!

It seems the timing for everyone is random. Mine was really quick 19 days (a week of that was because of the available valuation dates were booked up).

Is your situation a bit more complicated? I.e a large ltv, a large multiple of your income required for mortgage, were you on furlough at any point, are you working in a "risky" sector? Mine was really straight forward, only came back once on a question on stability of my partners job due to covid, he got a payrise during the summer which proved his job was secure, after we submitted that answer, we heard back from the UW a few days later with an acceptance pending valuation

No I don't think is is especially complicated - key worker sector.  We've had two lots of simple questions though which put us back in the queue each time.  Yes, like you say the timing does seem bit random - congrats to you btw!

Im sure your application will go through fine, fingers crossed, in situations like this every minute of waiting feels like an hour! If you applied via MB maybe chase them up to see if they have an update or atleast see if they can book in the valuation if you've not done already, so it will only be pending UW decision