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

Peter74

SueF1 said:

Peter74 said:

Sue, at what stage were the SA302s, accountant's cert and the bank statements requested please?  Were these pre-appointment or when they got to underwriting stage?

Not at the UW's stage yet, Peter. All the above was submitted by our broker on the day of application, 26th August.
Then yesterday broker got notification of everything they wanted, all of which she'd already supplied so nothing further to send at the moment. 
Now we wait for the valuation to be completed and to see what the UW's have to say.....

It might be a different process with the broker route but it was my understanding that Santander had ditched the requesting of bank statements as part of their standard application procedure; that's not to say of course they might request them further down the line.  After I got the AIP, I had to send my latest payslip and an accountant's certificate showing income for both directors (both applicants) for past 2 years.  That's all I had to send pre-underwriters stage.  Now just waiting to see what extent I will be further dissected!

SueF1

cooky123 said:

I gave all that on application the sa302s bit of an update just heard back the valuation came back undervalued by20,000 so broker said the seller needs to agree to put the price down if he will? 😭

Oh blimey, what to do now. Let us know how you get on

SueF1

Peter74 It might be a different process with the broker route but it was my understanding that Santander had ditched the requesting of bank statements as part of their standard application procedure; that's not to say of course they might request them further down the line.  After I got the AIP, I had to send my latest payslip and an accountant's certificate showing income for both directors (both applicants) for past 2 years.  That's all I had to send pre-underwriters stage.  Now just waiting to see what extent I will be further dissected!

I'm so surprised at how completely different every single case is.
Our valuation has been booked for 23rd September,  earliest they can do. Broker said nothing will happen until that's done

Peter74

Blimey, 23rd!  Your one is really dragging on.  I can see why so many people ask on here about starting a 2nd application to have as a back-up.

SueF1

Peter74 said:

Blimey, 23rd!  Your one is really dragging on.  I can see why so many people ask on here about starting a 2nd application to have as a back-up.

Yes, over a month from instruction of valuation to actual survey does seem excessive to me, even at the moment!

EMJ_87

Honestly, is anyone getting anywhere with Santander at the moment? I submitted my latest wage slip on 1st Sep after it was requested on 27th August (bank holiday delays). We are coming to the end of week 7 since our initial application on 17th July (it was resubmitted on 11th Aug due to broker not doing things in time) but now I am just losing the will to live! Every time I think we will get a decision it's something else.

I am starting to see people starting back up applications to cover bases, is that wise at this point or should I just wait? My builder is being really supportive but I am getting extremely worried now that all my eggs are in Santanders basket!

Peter74

EMJ_87 said:

Honestly, is anyone getting anywhere with Santander at the moment? I submitted my latest wage slip on 1st Sep after it was requested on 27th August (bank holiday delays). We are coming to the end of week 7 since our initial application on 17th July (it was resubmitted on 11th Aug due to broker not doing things in time) but now I am just losing the will to live! Every time I think we will get a decision it's something else.

I am starting to see people starting back up applications to cover bases, is that wise at this point or should I just wait? My builder is being really supportive but I am getting extremely worried now that all my eggs are in Santanders basket!

Here's my 5p worth.  I know nothing about mortgage applications and have sought advice on here myself but I reckon a back-up application would be frowned upon by brokers as it would potentially be seen as wasting their time.  Also, I think the main factor is how quickly the initial lender credit check was registered.  Reading all the different stories, sometimes these credit searches appear almost immediately on credit files and sometimes it can take a month.  My hard credit check was 18/08 and still nothing on my file yet.  So I'm kind of thinking that sneaking in a second application is doable if the check is carried out before initial check registers.  i.e. second lender doesn't see first lender check.  But then on the flip side you have the possibility of your first lender loan going tits up because they perform a second hard check on you and the second lender check turns up!
It really is a minefield but in this current climate, I do not necessarily think that having a backup is completely detrimental and can at least see why people consider it.  I guess there will be winners and losers.

Peter74

Peter74 said:

EMJ_87 said:

Honestly, is anyone getting anywhere with Santander at the moment? I submitted my latest wage slip on 1st Sep after it was requested on 27th August (bank holiday delays). We are coming to the end of week 7 since our initial application on 17th July (it was resubmitted on 11th Aug due to broker not doing things in time) but now I am just losing the will to live! Every time I think we will get a decision it's something else.

I am starting to see people starting back up applications to cover bases, is that wise at this point or should I just wait? My builder is being really supportive but I am getting extremely worried now that all my eggs are in Santanders basket!

Here's my 5p worth.  I know nothing about mortgage applications and have sought advice on here myself but I reckon a back-up application would be frowned upon by brokers as it would potentially be seen as wasting their time.  Also, I think the main factor is how quickly the initial lender credit check was registered.  Reading all the different stories, sometimes these credit searches appear almost immediately on credit files and sometimes it can take a month.  My hard credit check was 18/08 and still nothing on my file yet.  So I'm kind of thinking that sneaking in a second application is doable if the check is carried out before initial check registers.  i.e. second lender doesn't see first lender check.  But then on the flip side you have the possibility of your first lender loan going tits up because they perform a second hard check on you and the second lender check turns up!
It really is a minefield but in this current climate, I do not necessarily think that having a backup is completely detrimental and can at least see why people consider it.  I guess there will be winners and losers.

Just to add... I did consider doing a second application but have decided against it.  I will await my fate with Santander first.

EMJ_87

Peter74 said:

Peter74 said:

EMJ_87 said:

Honestly, is anyone getting anywhere with Santander at the moment? I submitted my latest wage slip on 1st Sep after it was requested on 27th August (bank holiday delays). We are coming to the end of week 7 since our initial application on 17th July (it was resubmitted on 11th Aug due to broker not doing things in time) but now I am just losing the will to live! Every time I think we will get a decision it's something else.

I am starting to see people starting back up applications to cover bases, is that wise at this point or should I just wait? My builder is being really supportive but I am getting extremely worried now that all my eggs are in Santanders basket!

Here's my 5p worth.  I know nothing about mortgage applications and have sought advice on here myself but I reckon a back-up application would be frowned upon by brokers as it would potentially be seen as wasting their time.  Also, I think the main factor is how quickly the initial lender credit check was registered.  Reading all the different stories, sometimes these credit searches appear almost immediately on credit files and sometimes it can take a month.  My hard credit check was 18/08 and still nothing on my file yet.  So I'm kind of thinking that sneaking in a second application is doable if the check is carried out before initial check registers.  i.e. second lender doesn't see first lender check.  But then on the flip side you have the possibility of your first lender loan going tits up because they perform a second hard check on you and the second lender check turns up!
It really is a minefield but in this current climate, I do not necessarily think that having a backup is completely detrimental and can at least see why people consider it.  I guess there will be winners and losers.

Just to add... I did consider doing a second application but have decided against it.  I will await my fate with Santander first.

You are right. It’s an absolute minefield right now. My hard search was done on application, I can only see it on Experian though not Equifax or TransUnion. But as you say, I don’t want to risk another hard search and perhaps ruin both attempts if Santander decide to do another. It just pains me how long this is taking and being totally helpless. There’s not a thing I can do bring this to a close any sooner. 

Peter74

Yep completely understand.  It's not the getting refused that's the issue, it's the painful waiting game you have to go through.