Santander cancelled mortgage application

watermelonspring

Hi all,

We submitted a mortgage with Santander on 28/8 and have just found out today that the application has been denied because there has been a change to their policy. It’s not clear what the change is. We are FTB with a household income of £115k and a 15% deposit. 

Can anyone shed any light on what might’ve happened? I’m gutted. 

Beeboo23

Not sure about Santander but I’m getting my mortgage on my own through Halifax with a lower income and the same deposit as you so maybe try them?

FTBSolihull

Something strange going on at Santander, today they asked me to get a letter from my employer stating I wouldn’t be made redundant in the near future. Of course this isn’t the sort of letter any company would write. We’ve told them we can’t get the document so expecting the application to be refused.

watermelonspring

 FTBSolihull said:

Something strange going on at Santander, today they asked me to get a letter from my employer stating I wouldn’t be made redundant in the near future. Of course this isn’t the sort of letter any company would write. We’ve told them we can’t get the document so expecting the application to be refused.

Hi there, they requested the same for us - not for a letter from our employer but an explanation in our own words. Feels like such a waste of valuable time. 

Thrugelmir

FTBSolihull said:

Something strange going on at Santander, today they asked me to get a letter from my employer stating I wouldn’t be made redundant in the near future. Of course this isn’t the sort of letter any company would write. We’ve told them we can’t get the document so expecting the application to be refused.

Have you been furloughed? Has your employer publicly announced a future restructuring of the company? 

FTBSolihull

I was furloughed for two months but been at work for three months and have a letter to state that which I’ve provided. Employer hasn’t been in the public eye for anything.

[Deleted User]

Santander hasn't changed any core policy criteria since late June

amnblog

Santander currently ask:
Confirmation of how the applicant's income or employment has been impacted by COVID-19
a) If the applicant's income or employment is unaffected by COVID 19
We need an explanation why they haven't been affected so our underwriters can assess the plausibility that their income is sustainable.
Or
b) if the applicant's income or employment is impacted by COVID 19
We need an explanation of how they have been impacted for example if they've reduced working hours or have been furloughed.
Where they've been furloughed but their income is being topped up by their employer, please also upload a letter from their employer confirming this