Santander - mortgage offer temporarily withdrawn pending further documents!!

Punkcandykane

Hey All,
I was wondering if anyone has had a similar experience. (Sorry in advance for long post).

Our Santander mortgage offer was issued on the 5th of Feb and we recieved the official documents for the offer on the 7th Feb.

We needed some searches and building survey reports back and finally we're ready to proceed with an exchange date of March 17th and Completion of March 19th.

Our solicitor then emailed us to say Satander has withdrawn the offer due to needing more documents - this was on the 9th March.

On the same day we discovered it was my partners passport that was needed to be certified by our broker and sent to Santander. We rushed to the post office and sent it same day and was recieve on the 10th March.

Santander recieved it on 12th March which they confirmed on the phone with me.
I have called and chased everyday since being told that the case went to head office on Monday 15th. Since that there has been  nothing and when I call I get told it is upto a 9 day wait.

I called again today as was told after 3 days i could mark it as urgent and have also explained regarding our impatient seller and previous agreed dates which will now be further delayed.

I am super worried that they are going to now say the offer is fully withdrawn, but there has been no changes to our circumstances what so ever - they just needed a passport.

Anyone else ever had this experience or heard of this?

Thanks

K_S

@Punkcandykane Based on the limited info in your post, it sounds like some compliance flag came up post-offer.

Once something like that happens it usually goes up a few levels until someone senior enough signs off to say it's ok to proceed.

I'm sure you are super-stressed but unfortunately there really isn't anything to do besides wait. Once it's past the 9 days that they mentioned, it may be worth putting in a formal complaint to see if that stirs anything.

Punkcandykane

Thank you for your advice.
When you mention 'compliance flag' is that something that Santander missed originally, so for example they issued the offer before having full details?

Thanks

MWT

Punkcandykane said:

We needed some searches and building survey reports back and finally we're ready to proceed with an exchange date of March 17th and Completion of March 19th.

March 17th was yesterday and the 19th tomorrow, should those dates be April perhaps?

Punkcandykane

No they were are original exchange and completion dates....but obviously that is now not going ahead due to the further information needed. 

K_S

Punkcandykane said:

Thank you for your advice.
When you mention 'compliance flag' is that something that Santander missed originally, so for example they issued the offer before having full details?
Thanks

@punkcandykane Impossible to say. Generally speaking, there are all sorts of automated system audits going on during app and post-offer stage. When these throw up flags (rightly or wrongly), someone then picks it up to have a look at it.

It's rare that this happens, so there's no way to accurately generalise. Best case scenario is that the certified passport copy has assuaged whatever concerns were flagged and all it needs now is a sign-off by someone senior enough. Sorry I can't be more helpful.

Punkcandykane

Thank you for all of your advice.
For us it has been such a stressful journey and have had so many delays in what should be a straight foward mortgage application and no chain to no chain sale.
We just thought we were finally there and have been stopped at the last minute. I hope it all comes back OK, as there is no reason why it shouldn't.
Thanks

031192vy353

Punkcandykane said:

Thank you for all of your advice.
For us it has been such a stressful journey and have had so many delays in what should be a straight foward mortgage application and no chain to no chain sale.
We just thought we were finally there and have been stopped at the last minute. I hope it all comes back OK, as there is no reason why it shouldn't.
Thanks

Any update on your situation? 

Punkcandykane

Hey yes, sorry its been a whirlwind. After 4 days I called santander who put a rush on it with the 'head office' team. Same day we got an email stating it had all been reinstated but thr delays means our completion is now April 7th. Apparently we were selected for a check - not sure what that means but we passed it :-)

Thrugelmir

Punkcandykane said:

Apparently we were selected for a check - not sure what that means but we passed it :-)

Internal audit function will randomly check and scrunitise applications to ensure compliance with the lenders own internal rules and policies. . 

Nishh14

Hello, hope you can help. My offer has been withdrawn "temporarily". Was wondering which number you called to speak to them?