Santander mortgage timeline

mowgliisaG

85c said:

mowgliisaG said:

85c said:

knocknock1 said:

85c said:

knocknock1 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

NatNat77 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

I’d be keen to know what type of extra documents have been required for SE?? Is it just last 3 months statements?

So far we’ve given 3 month business Bank  statements, 3 months personal statements, SA03 form, letter from accountant and our books. Fully expecting to be asked for more October bank statements this week. 

Sole trader or LTD? 

By books I assume you mean full accounts?  Letter from accountant was just a reference form? 

Thanks 

Yes limited company, yes full books, and letter was for projections for next year. As well as SA03 form. 

Hubby has a Ltd company too and we only needed to supply an accountants certificate for the last 3 years. It's so bizarre how they ask for different things 

Yes via broker, we only given 2 years for our limited company as we expanded from sole trader. What does your hubby do? Did covid effect it? We have a joinery, all bespoke interiors etc. 

Well I am the hubby, the wife is a primary school teacher so no affect. I have a LTD that supplies to NHS, obv during first lockdown hospitals almost closed to routine work so was a dip in work, but since has been back online and this lockdown won’t affect us because routine stuff staying open. 

Oh you guys will be fine. You sound in a great position! Hope we all hear something soon! 

Well we are at about 80% turnover compared to pre Covid..took a bbl as insurance but did not use and is still in account. My worry is they are comparing pre Covid to now and a reduction in turnover may mean reduced offer. Though as for all self employed, peaks and dips and normal month on Month.

I really think you will be fine, we where fortunate business grew through covid, and fully booked with contracts all next year, everyone paid there deposits. To be honest husbands work load is so huge he can’t keep up, and all this mortgage stress is taking its toll, I think it’s because we’ve now been applying for 16 weeks. 

16 weeks...wow...what’s happened? Why so long?
ah if you grew you should have no problems right...

You’d hope. We originally went with Aldermore they are vile! After 11 weeks we had an offer then they retracted it 2 days later as they changed there criteria and we no longer were in it. There reviews are awful they’ve done similar to so many people. We started our Santander application 5 weeks ago this week. It’s just the Christmas deadline isn’t it. Everyone is nearly ready to exchange. We just need to get an offer this month and we can still make it. But who knows if we will. 

So bad in behalf of aldermore..they should be ashamed. Just messed you about and then changed goalposts. Hope you get your offer very soon. When did you apply to Santander? 

Thank you. You to. Our application went in on the 1st October, just heard from MB our case won’t be looked at until Friday. I was hoping if we got an offer this month we could exchange and complete next month in time for Xmas. But not holding my breath now. 

Yep, unfortunately, local authority searching is taking a while.
Check here: https://www.searchflow.co.uk/news-and-events/local-authority-turnaround-time-increases/#:~:text=Official Search: Turnaround Times Local, 10 56 more rows

If you HTB, they have apparently caught up now so their SLA I think is around 3-4 day mark for most agents. If you are London they are offloading to other agents to help them catch up.

Thank you, all our searches are back just waiting on our mortgage, the mad thing is we earn to much money to do HTB.

Well, I've had separate evaluation on the market and that is house prices will very likely go down in the short term, with HTB giving you interest free money and absorbing the value of the house going down. Even *if* I had my own deposit, id rather put that money to better use.

Sorry how does it work? When I looked I thought it said if you earn over £80k you’re not eligible? How do I find out about it? 

There is no maximum income cap..as long as house value is 600k or less. 

Wow I didn’t know that! Yes house we are buying is £380k, 

You only need to put 5% down and HtB will be other 20%

85c

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

knocknock1 said:

85c said:

knocknock1 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

NatNat77 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

I’d be keen to know what type of extra documents have been required for SE?? Is it just last 3 months statements?

So far we’ve given 3 month business Bank  statements, 3 months personal statements, SA03 form, letter from accountant and our books. Fully expecting to be asked for more October bank statements this week. 

Sole trader or LTD? 

By books I assume you mean full accounts?  Letter from accountant was just a reference form? 

Thanks 

Yes limited company, yes full books, and letter was for projections for next year. As well as SA03 form. 

Hubby has a Ltd company too and we only needed to supply an accountants certificate for the last 3 years. It's so bizarre how they ask for different things 

Yes via broker, we only given 2 years for our limited company as we expanded from sole trader. What does your hubby do? Did covid effect it? We have a joinery, all bespoke interiors etc. 

Well I am the hubby, the wife is a primary school teacher so no affect. I have a LTD that supplies to NHS, obv during first lockdown hospitals almost closed to routine work so was a dip in work, but since has been back online and this lockdown won’t affect us because routine stuff staying open. 

Oh you guys will be fine. You sound in a great position! Hope we all hear something soon! 

Well we are at about 80% turnover compared to pre Covid..took a bbl as insurance but did not use and is still in account. My worry is they are comparing pre Covid to now and a reduction in turnover may mean reduced offer. Though as for all self employed, peaks and dips and normal month on Month.

I really think you will be fine, we where fortunate business grew through covid, and fully booked with contracts all next year, everyone paid there deposits. To be honest husbands work load is so huge he can’t keep up, and all this mortgage stress is taking its toll, I think it’s because we’ve now been applying for 16 weeks. 

16 weeks...wow...what’s happened? Why so long?
ah if you grew you should have no problems right...

You’d hope. We originally went with Aldermore they are vile! After 11 weeks we had an offer then they retracted it 2 days later as they changed there criteria and we no longer were in it. There reviews are awful they’ve done similar to so many people. We started our Santander application 5 weeks ago this week. It’s just the Christmas deadline isn’t it. Everyone is nearly ready to exchange. We just need to get an offer this month and we can still make it. But who knows if we will. 

So bad in behalf of aldermore..they should be ashamed. Just messed you about and then changed goalposts. Hope you get your offer very soon. When did you apply to Santander? 

Thank you. You to. Our application went in on the 1st October, just heard from MB our case won’t be looked at until Friday. I was hoping if we got an offer this month we could exchange and complete next month in time for Xmas. But not holding my breath now. 

Yep, unfortunately, local authority searching is taking a while.
Check here: https://www.searchflow.co.uk/news-and-events/local-authority-turnaround-time-increases/#:~:text=Official Search: Turnaround Times Local, 10 56 more rows

If you HTB, they have apparently caught up now so their SLA I think is around 3-4 day mark for most agents. If you are London they are offloading to other agents to help them catch up.

Thank you, all our searches are back just waiting on our mortgage, the mad thing is we earn to much money to do HTB.

Well, I've had separate evaluation on the market and that is house prices will very likely go down in the short term, with HTB giving you interest free money and absorbing the value of the house going down. Even *if* I had my own deposit, id rather put that money to better use.

Sorry how does it work? When I looked I thought it said if you earn over £80k you’re not eligible? How do I find out about it? 

There is no maximum income cap..as long as house value is 600k or less. 

Wow I didn’t know that! Yes house we are buying is £380k, 

You only need to put 5% down and HtB will be other 20%

Who do you apply, wish our broker had told us about this! We are laying down 17% 

mowgliisaG

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

knocknock1 said:

85c said:

knocknock1 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

85c said:

NatNat77 said:

85c said:

mowgliisaG said:

85c said:

mowgliisaG said:

I’d be keen to know what type of extra documents have been required for SE?? Is it just last 3 months statements?

So far we’ve given 3 month business Bank  statements, 3 months personal statements, SA03 form, letter from accountant and our books. Fully expecting to be asked for more October bank statements this week. 

Sole trader or LTD? 

By books I assume you mean full accounts?  Letter from accountant was just a reference form? 

Thanks 

Yes limited company, yes full books, and letter was for projections for next year. As well as SA03 form. 

Hubby has a Ltd company too and we only needed to supply an accountants certificate for the last 3 years. It's so bizarre how they ask for different things 

Yes via broker, we only given 2 years for our limited company as we expanded from sole trader. What does your hubby do? Did covid effect it? We have a joinery, all bespoke interiors etc. 

Well I am the hubby, the wife is a primary school teacher so no affect. I have a LTD that supplies to NHS, obv during first lockdown hospitals almost closed to routine work so was a dip in work, but since has been back online and this lockdown won’t affect us because routine stuff staying open. 

Oh you guys will be fine. You sound in a great position! Hope we all hear something soon! 

Well we are at about 80% turnover compared to pre Covid..took a bbl as insurance but did not use and is still in account. My worry is they are comparing pre Covid to now and a reduction in turnover may mean reduced offer. Though as for all self employed, peaks and dips and normal month on Month.

I really think you will be fine, we where fortunate business grew through covid, and fully booked with contracts all next year, everyone paid there deposits. To be honest husbands work load is so huge he can’t keep up, and all this mortgage stress is taking its toll, I think it’s because we’ve now been applying for 16 weeks. 

16 weeks...wow...what’s happened? Why so long?
ah if you grew you should have no problems right...

You’d hope. We originally went with Aldermore they are vile! After 11 weeks we had an offer then they retracted it 2 days later as they changed there criteria and we no longer were in it. There reviews are awful they’ve done similar to so many people. We started our Santander application 5 weeks ago this week. It’s just the Christmas deadline isn’t it. Everyone is nearly ready to exchange. We just need to get an offer this month and we can still make it. But who knows if we will. 

So bad in behalf of aldermore..they should be ashamed. Just messed you about and then changed goalposts. Hope you get your offer very soon. When did you apply to Santander? 

Thank you. You to. Our application went in on the 1st October, just heard from MB our case won’t be looked at until Friday. I was hoping if we got an offer this month we could exchange and complete next month in time for Xmas. But not holding my breath now. 

Yep, unfortunately, local authority searching is taking a while.
Check here: https://www.searchflow.co.uk/news-and-events/local-authority-turnaround-time-increases/#:~:text=Official Search: Turnaround Times Local, 10 56 more rows

If you HTB, they have apparently caught up now so their SLA I think is around 3-4 day mark for most agents. If you are London they are offloading to other agents to help them catch up.

Thank you, all our searches are back just waiting on our mortgage, the mad thing is we earn to much money to do HTB.

Well, I've had separate evaluation on the market and that is house prices will very likely go down in the short term, with HTB giving you interest free money and absorbing the value of the house going down. Even *if* I had my own deposit, id rather put that money to better use.

Sorry how does it work? When I looked I thought it said if you earn over £80k you’re not eligible? How do I find out about it? 

There is no maximum income cap..as long as house value is 600k or less. 

Wow I didn’t know that! Yes house we are buying is £380k, 

You only need to put 5% down and HtB will be other 20%

Who do you apply, wish our broker had told us about this! We are laying down 17% 

PMd you

knocknock1

For those going for new builds.

Do you need to pay a Management Company to look after the grounds. Im highly sceptical of this and our company is Preim. Even though I will be buying a freehold property, I am legally bound to paying a £200 annual maintenance fee and the law around it seems a bit vague, 

[Deleted User]

knocknock1 said:

For those going for new builds.

Do you need to pay a Management Company to look after the grounds. Im highly sceptical of this and our company is Preim. Even though I will be buying a freehold property, I am legally bound to paying a £200 annual maintenance fee and the law around it seems a bit vague, 

Same here. Initial management fee is paid at completion and then by direct debit to the management company once the estate roads and parks etc are adopted.

georgebal313

Hi all...
After advice from my MB, i had provided documents from the solicitor regarding the closing date so my application would be "fast tracked". Completion date was October 23rd (passed). 
Second letter sent that advised Santander that the date has passed and to get things moving.
Still waiting for an answer. According to my MB i'm in the "urgent queue" for assessment, but i have no idea what that means, and now the sellers are threatening to cancel the sale.....

Anyone experienced anything similar?
 

85c

georgebal313 said:

Hi all...
After advice from my MB, i had provided documents from the solicitor regarding the closing date so my application would be "fast tracked". Completion date was October 23rd (passed). 
Second letter sent that advised Santander that the date has passed and to get things moving.
Still waiting for an answer. According to my MB i'm in the "urgent queue" for assessment, but i have no idea what that means, and now the sellers are threatening to cancel the sale.....

Anyone experienced anything similar?
 

georgebal313 said:

Hi all...
After advice from my MB, i had provided documents from the solicitor regarding the closing date so my application would be "fast tracked". Completion date was October 23rd (passed). 
Second letter sent that advised Santander that the date has passed and to get things moving.
Still waiting for an answer. According to my MB i'm in the "urgent queue" for assessment, but i have no idea what that means, and now the sellers are threatening to cancel the sale.....

Anyone experienced anything similar?
 

Hi, our MB asked our solicitor to write a letter, for the same reason, she said no as it doesn’t make a difference. Sorry I know that’s not any help. I really hope it does help you. 

jhub68

Hi does anyone know accurate Santander's timeline is on https://www.santanderforintermediaries.co.uk/submit-and-track-business/our-service-levels/?
As my MB said my application was passed to UW on1st October and now says reviewing 2nd October. Am I just being really impatient??? This is a killer, waiting and not knowing and not really being able to do anything about it and feel guilty asking for updates from MB.

georgebal313

85c said:

Hi, our MB asked our solicitor to write a letter, for the same reason, she said no as it doesn’t make a difference. Sorry I know that’s not any help. I really hope it does help you. 

According to my MB, both letters were requested by the bank but, you are right, it somehow doesn't feel like they are making any difference

georgebal313

georgebal313 said:

85c said:

Hi, our MB asked our solicitor to write a letter, for the same reason, she said no as it doesn’t make a difference. Sorry I know that’s not any help. I really hope it does help you. 

According to my MB, both letters were requested by the bank but, you are right, it somehow doesn't feel like they are making any difference

Well, seems like posting here was a good luck charm
Just got a message that the mortgage application has been agreed and a mortgage offer will be sent out shortly, subject to a satisfactory valuation.

No idea how long Santander's "shortly" is or how long the valuation will take (property is in Scotland), but this is finally a step in the right direction