Santander mortgage timeline

mowgliisaG

Any self employed people who have offered mortgages by Santander??? What kind of questions did they ask/look for??

knocknock1

Hi all,
Sorry for the 3rd post. I have some goo news, mortgage has been offered. My timeline is as follows.
19/10/20 - Application Submitted
19/10/20 - AIP
20/10/20 - Valuation
29/10/20 - Application Accepted by UW
30/10/20 - Offer Recived

I am a lone FTB with HTB. I also took out a part loan to help fund the deposit (which I took into affordability). 

Good luck to all those still waiting on outcomes. Sit tight, it will happen! 

[Deleted User]

knocknock1 said:

Hi all,
Sorry for the 3rd post. I have some goo news, mortgage has been offered. My timeline is as follows.
19/10/20 - Application Submitted
19/10/20 - AIP
20/10/20 - Valuation
29/10/20 - Application Accepted by UW
30/10/20 - Offer Recived

I am a lone FTB with HTB. I also took out a part loan to help fund the deposit (which I took into affordability). 

Good luck to all those still waiting on outcomes. Sit tight, it will happen! 

Congratulations. I can't believe yours was turned.round in 11 days. Ours is 6 weeks, and counting, now. 😖

Meh123

mowgliisaG said:

Any self employed people who have offered mortgages by Santander??? What kind of questions did they ask/look for??

Hi, we’re only at application stage but I’ve asked this one myself. We come under the ‘contractor’ side of SE, from what I’ve gathered for us it’ll be bank statements to show income coming in (and showing that we’re in the same place that our most recent SA302 put us at financially).
Ive come across a few of the ‘freelance’ SE sector across the forums and most have been asked for some (if not all) upcoming contracts, accountants projected incomes, current contracts in place etc. 

With the Ltd Businesses I’m sure that they’re being asked to provide last 3 business statements to show income.
TBH there doesn’t seem to be any hard and fast rules with what they’re asking for, as I’ve also come across some SE applicants that didn’t even have Questions at the UW stage! 

All I do know is that it’s really stressful, so so stressful! Especially with the big waits for UW to even happen! 

knocknock1

MJT0801 said:

knocknock1 said:

Hi all,
Sorry for the 3rd post. I have some goo news, mortgage has been offered. My timeline is as follows.
19/10/20 - Application Submitted
19/10/20 - AIP
20/10/20 - Valuation
29/10/20 - Application Accepted by UW
30/10/20 - Offer Recived

I am a lone FTB with HTB. I also took out a part loan to help fund the deposit (which I took into affordability). 

Good luck to all those still waiting on outcomes. Sit tight, it will happen! 

Congratulations. I can't believe yours was turned.round in 11 days. Ours is 6 weeks, and counting, now. 😖

Thanks. I was almost shaking as I typed. I dont understand why it is taking longer for others. Hang on in there!

mowgliisaG

Meh123 said:

mowgliisaG said:

Any self employed people who have offered mortgages by Santander??? What kind of questions did they ask/look for??

Hi, we’re only at application stage but I’ve asked this one myself. We come under the ‘contractor’ side of SE, from what I’ve gathered for us it’ll be bank statements to show income coming in (and showing that we’re in the same place that our most recent SA302 put us at financially).
Ive come across a few of the ‘freelance’ SE sector across the forums and most have been asked for some (if not all) upcoming contracts, accountants projected incomes, current contracts in place etc. 

With the Ltd Businesses I’m sure that they’re being asked to provide last 3 business statements to show income.
TBH there doesn’t seem to be any hard and fast rules with what they’re asking for, as I’ve also come across some SE applicants that didn’t even have Questions at the UW stage! 

All I do know is that it’s really stressful, so so stressful! Especially with the big waits for UW to even happen! 

I agree mate, very stressful, it’s more stressful not knowing what they are looking for. Seems everyone is being asked for differing things. Is your industry one that was impacted and still impacted by Covid? Is your revenue 100% back?

thanks

Meh123

mowgliisaG said:

Meh123 said:

mowgliisaG said:

Any self employed people who have offered mortgages by Santander??? What kind of questions did they ask/look for??

Hi, we’re only at application stage but I’ve asked this one myself. We come under the ‘contractor’ side of SE, from what I’ve gathered for us it’ll be bank statements to show income coming in (and showing that we’re in the same place that our most recent SA302 put us at financially).
Ive come across a few of the ‘freelance’ SE sector across the forums and most have been asked for some (if not all) upcoming contracts, accountants projected incomes, current contracts in place etc. 

With the Ltd Businesses I’m sure that they’re being asked to provide last 3 business statements to show income.
TBH there doesn’t seem to be any hard and fast rules with what they’re asking for, as I’ve also come across some SE applicants that didn’t even have Questions at the UW stage! 

All I do know is that it’s really stressful, so so stressful! Especially with the big waits for UW to even happen! 

I agree mate, very stressful, it’s more stressful not knowing what they are looking for. Seems everyone is being asked for differing things. Is your industry one that was impacted and still impacted by Covid? Is your revenue 100% back?

thanks

mowgliisaG said

I agree mate, very stressful, it’s more stressful not knowing what they are looking for. Seems everyone is being asked for differing things. Is your industry one that was impacted and still impacted by Covid? Is your revenue 100% back?

thanks

Exactly that, I’ve slowly driven myself mad with it all, we’re not even due to get to UW till approx 23rd November either!
He’s a carpenter so it was a total wipe out for him during the original lockdown but is back to 100% business as usual now and has been since end of July. Our worry was taking the SEISS grants but our MB didn’t seem concerned as when he applied for it (early July) he was on a lower income but since then everything is back to what it was. Were you badly impacted? 

brownn

We are existing Santander customers and have just applied through our MB to port with additional borrowing for a new build,  23 days from AIP to offer. Payslips were requested at application but never asked for bank statements.

• 05/10/2020 AIP & Soft Search
• 12/10/2020 Application & Hard Search
• 22/10/2020 Offer subject to valuation
• 27/10/2020 Valuation (physical)
• 28/10/2020 Mortgage offer 

mowgliisaG

Meh123 said:

mowgliisaG said:

Meh123 said:

mowgliisaG said:

Any self employed people who have offered mortgages by Santander??? What kind of questions did they ask/look for??

Hi, we’re only at application stage but I’ve asked this one myself. We come under the ‘contractor’ side of SE, from what I’ve gathered for us it’ll be bank statements to show income coming in (and showing that we’re in the same place that our most recent SA302 put us at financially).
Ive come across a few of the ‘freelance’ SE sector across the forums and most have been asked for some (if not all) upcoming contracts, accountants projected incomes, current contracts in place etc. 

With the Ltd Businesses I’m sure that they’re being asked to provide last 3 business statements to show income.
TBH there doesn’t seem to be any hard and fast rules with what they’re asking for, as I’ve also come across some SE applicants that didn’t even have Questions at the UW stage! 

All I do know is that it’s really stressful, so so stressful! Especially with the big waits for UW to even happen! 

I agree mate, very stressful, it’s more stressful not knowing what they are looking for. Seems everyone is being asked for differing things. Is your industry one that was impacted and still impacted by Covid? Is your revenue 100% back?

thanks

mowgliisaG said

I agree mate, very stressful, it’s more stressful not knowing what they are looking for. Seems everyone is being asked for differing things. Is your industry one that was impacted and still impacted by Covid? Is your revenue 100% back?

thanks

Exactly that, I’ve slowly driven myself mad with it all, we’re not even due to get to UW till approx 23rd November either!
He’s a carpenter so it was a total wipe out for him during the original lockdown but is back to 100% business as usual now and has been since end of July. Our worry was taking the SEISS grants but our MB didn’t seem concerned as when he applied for it (early July) he was on a lower income but since then everything is back to what it was. Were you badly impacted? 

Have Pmd you Meh123

mowgliisaG

brownn said:

We are existing Santander customers and have just applied through our MB to port with additional borrowing for a new build,  23 days from AIP to offer. Payslips were requested at application but never asked for bank statements.

• 05/10/2020 AIP & Soft Search
• 12/10/2020 Application & Hard Search
• 22/10/2020 Offer subject to valuation
• 27/10/2020 Valuation (physical)
• 28/10/2020 Mortgage offer 

Employed or self employed?