Santander mortgage timeline

85c

NatNat77 said:

85c-who told you that timescale? As if it was santander I think you will hear, every timescale they have given me so far has been accurate so hopefully it won't be too much longer! I've probably jinxed myself now and won't get my formal offer when they said lol

Our broker told us. I really hope you are right. That’s so good to hear. 

85c

NatNat77 said:

85c-who told you that timescale? As if it was santander I think you will hear, every timescale they have given me so far has been accurate so hopefully it won't be too much longer! I've probably jinxed myself now and won't get my formal offer when they said lol

Our MB told us. Oh that’s good to hear! 

85c

Hi everyone, 

so we are ready to exchange on the house we are selling, but we don’t have our mortgage back on the one we are buying, we found a great holiday let that is affordable and will let us bring our dog. We are thinking we should take it as there’s no way of knowing how long our mortgage will take and if it will be approved. But the lady said she has to do a credit search does anyone know If that will effect our mortgage application? 

knocknock1

85c said:

Hi everyone, 

so we are ready to exchange on the house we are selling, but we don’t have our mortgage back on the one we are buying, we found a great holiday let that is affordable and will let us bring our dog. We are thinking we should take it as there’s no way of knowing how long our mortgage will take and if it will be approved. But the lady said she has to do a credit search does anyone know If that will effect our mortgage application? 

The lady who has a holiday let is asking to do a credit search? Are there any rental contracts for the length of stay? I find this odd, as it is a cash transaction. Could you pay her the money upfront? Ask her if she would be doing a hard credit search or a soft one. If its a soft one then it wont show on your report and wont effect your score.

85c

knocknock1 said:

85c said:

Hi everyone, 

so we are ready to exchange on the house we are selling, but we don’t have our mortgage back on the one we are buying, we found a great holiday let that is affordable and will let us bring our dog. We are thinking we should take it as there’s no way of knowing how long our mortgage will take and if it will be approved. But the lady said she has to do a credit search does anyone know If that will effect our mortgage application? 

The lady who has a holiday let is asking to do a credit search? Are there any rental contracts for the length of stay? I find this odd, as it is a cash transaction. Could you pay her the money upfront? Ask her if she would be doing a hard credit search or a soft one. If its a soft one then it wont show on your report and wont effect your score.

She said she has to do it for her insurance and it’s a soft search. We offered to show her our financials and our Experian. But she said it’s for insurance.

knocknock1

85c said:

knocknock1 said:

85c said:

Hi everyone, 

so we are ready to exchange on the house we are selling, but we don’t have our mortgage back on the one we are buying, we found a great holiday let that is affordable and will let us bring our dog. We are thinking we should take it as there’s no way of knowing how long our mortgage will take and if it will be approved. But the lady said she has to do a credit search does anyone know If that will effect our mortgage application? 

The lady who has a holiday let is asking to do a credit search? Are there any rental contracts for the length of stay? I find this odd, as it is a cash transaction. Could you pay her the money upfront? Ask her if she would be doing a hard credit search or a soft one. If its a soft one then it wont show on your report and wont effect your score.

She said she has to do it for her insurance and it’s a soft search. We offered to show her our financials and our Experian. But she said it’s for insurance.

Then it wont effect your credit score/history, soft search's are done all the time. So it will be fine. 

85c

knocknock1 said:

85c said:

knocknock1 said:

85c said:

Hi everyone, 

so we are ready to exchange on the house we are selling, but we don’t have our mortgage back on the one we are buying, we found a great holiday let that is affordable and will let us bring our dog. We are thinking we should take it as there’s no way of knowing how long our mortgage will take and if it will be approved. But the lady said she has to do a credit search does anyone know If that will effect our mortgage application? 

The lady who has a holiday let is asking to do a credit search? Are there any rental contracts for the length of stay? I find this odd, as it is a cash transaction. Could you pay her the money upfront? Ask her if she would be doing a hard credit search or a soft one. If its a soft one then it wont show on your report and wont effect your score.

She said she has to do it for her insurance and it’s a soft search. We offered to show her our financials and our Experian. But she said it’s for insurance.

Then it wont effect your credit score/history, soft search's are done all the time. So it will be fine. 

Thank you, that’s great to hear. 

MatthewB21

Does anyone know how long it is taking the UWs to respond to new documents or messages from brokers or is it just luck of the draw?

knocknock1

MatthewB21 said:

Does anyone know how long it is taking the UWs to respond to new documents or messages from brokers or is it just luck of the draw?

3-5 days.

MatthewB21

knocknock1 said:

MatthewB21 said:

Does anyone know how long it is taking the UWs to respond to new documents or messages from brokers or is it just luck of the draw?

3-5 days.

Thanks! Hopefully they won't ask for anything else and we'll have a decision next week.