Please Help - Gifted Deposit & Lender Consent

peacetrustlove

ele_91 said:

I think unfortunately the solicitor has to report it so the bank is happy to continue to lend. Hopefully this won’t take too long although they are most likely snowed under currently. Did you use a broker as they might be able to speed it up for you through a business dev manager?

I did use a broker and he has spoken to his BDM and apparently even the regional manager. They are just overloaded right now and aren't doing much to clean up the queue. 

Irishpearce26

If you only got your mortgage offer on the 1st June I think you are very optimistic in making the SDLT holiday, the extension was put in place for those that wouldn't complete by the end of the March holiday but already in the process. Its a process that needs to be undertaken at a very busy time. How far through conveyancing process are you? Survey done? Searches done? Enquires done?

peacetrustlove

Irishpearce26 said:

If you only got your mortgage offer on the 1st June I think you are very optimistic in making the SDLT holiday, the extension was put in place for those that wouldn't complete by the end of the March holiday but already in the process. Its a process that needs to be undertaken at a very busy time. How far through conveyancing process are you? Survey done? Searches done? Enquires done?

All of our conveyancing has been completed and we are simply waiting for the consent to exchange and complete. Solicitors have signed off my deposit as well. 

I spoke to the solicitors today and they have agreed to apply for the funds from Santander, pending the gift consent. At current turnaround times, I'm expecting the consent to be faxed over on the 28th/29th. We still have a chance I suppose. 

peacetrustlove

We found out that there was an escalation process, not quite highlighted anywhere. After waiting for 2 hours in a queue to make a complaint, I was told that if all paperwork was clear and the solicitors could complete imminently, they had to ring Santander and request the funds and then put in a separate request for escalation. Our solicitors did this late afternoon on the 20th and they got the money on the 22nd morning. We exchanged and completed on the same day.