No news since valuation on 21st with Santander anyone else?

cooky123

Hi I had a valuation carried out on 21st August with Santander but still not received mortgage offer and application was sent on 7th August anyone else still waiting? 

Peter74

Did you go direct with Santander and out of interest, did you get an underwriter's decision prior to the valuation being carried out?  Trying to figure out the order in which it works myself.

SueF1

Peter74 said:

Did you go direct with Santander and out of interest, did you get an underwriter's decision prior to the valuation being carried out?  Trying to figure out the order in which it works myself.

It says on their website to save time and reduce the application time they are now instructing the valuation the moment they have received the application. We applied 26th August (through broker) and the valuation has been instructed. I got excited thinking great news but then read these days it doesn't mean anything as they're just doing that for everyone....

cooky123

I went through a broker and the valuation was booked after the underwriter checks I believe well that’s what he told me.. I had the hard check on credit report on the 11th the same day as they received my application and then on the 13th they booked the valuation for the 21st not heard since and when I chased broker he said it’s all there ready to be offered but I don’t know now if maybe underwriters then get it back for more checks? 

cooky123

I was told it’s underwriters first then they book valuation after that part well it did seem that way for me but I’m not 100 now 

cooky123

This is what it says online on Santander mortgage website- Once we’ve completed your mortgage application,
 we’ll arrange for the property to be valued. This valuation is for our purposes, and it makes sure the property is worth the amount you’re paying for it.

Once we’ve received the valuation, we can make you a formal mortgage offer, meaning your mortgage has been approved.

SueF1

cooky123 said:

I was told it’s underwriters first then they book valuation after that part well it did seem that way for me but I’m not 100 now 

Maybe in some cases then but definitely says on their website they're instructing valuations as soon as the applications come in. I only applied a week ago and mines been instructed already so no way they'd have had chance to look at anything yet, let alone go to UW's (which it will do as SE) so who knows. 

Fingers crossed you'll hear something soon!

cooky123

SueF1 said:

cooky123 said:

I was told it’s underwriters first then they book valuation after that part well it did seem that way for me but I’m not 100 now 

Maybe in some cases then but definitely says on their website they're instructing valuations as soon as the applications come in. I only applied a week ago and mines been instructed already so no way they'd have had chance to look at anything yet, let alone go to UW's (which it will do as SE) so who knows. 

Fingers crossed you'll hear something soon!

Yes it may have changed or I may be wrong on mine but it did take a few days with mine before valuation was instructed but my husband is self employed and this could be holding us up too maybe the application is back with underwriters but broker told me it’s all there ready to be offered god knows so confusing haha fingers crossed yours is nice and quick.  

dmp1980

There is a large backlog with Santander post Covid. They are requesting valuations as soon as an application is received - however they maintain their standard process of completing the process through Underwriters approval, prior to then going through the valuation review. This means that regardless of when your valuation is booked and completed, it will only be reviewed once the underwriter has confirmed that they are prepared to approve the mortgage. It is then the final step before offer.

For context, we applied for mortgage on 15th July. Our valuation was booked on the 17th and completed on the 22nd July. We have today been approved by the underwriter subject to valuation process which we are informed will be 2/3 days. 

You can use this link to check the current processing of mortgages by Santander and what days applications they are working on - for context on the 15th July - there was a 42 day backlog....: 
https://www.santanderforintermediaries.co.uk/submit-and-track-business/our-service-levels/
Hopeful we will get the offer in the next few days, a total of 49/50 days end to end - pretty much what this link indicated when I applied.

cooky123

thank you that’s very useful info. So the valuation was on 21st August and that was received by them same day so is it 18.5 days from then or is it from when you originally applied? 

dmp1980

Its from application - but of course the website only shows todays wait time - not that which was valid at the time you applied. Id expect 30 days so the start to middle of next week. We started earlier and had a lot longer to wait as our timeframe was into the 40 day period.