Santander asking for more information after mortgage offer issued

MissMoneyManager

Morning all,

We applied for a joint mortgage directly with Santander in June and received our offer in June.  We have since paid our deposit and exchanged on our new house with a completion date set for the end of October due to our vendor relocating and needing time to organise everything. Yesterday we received a text from Santander saying they required more information. When we logged in it was asking for a copy of OH's passport and utility bill. It also now shows on the application progress page that "your details have changed and your application needs amending". We have not changed anything and we still have plenty of time before our offer expires. The next step says "amendment is being reviewed".  I called Santander and they suggested it could be a random audit. Has anyone else had this happen? Is it something to worry about? We were completely honest in our application and although it is a large mortgage with 10% deposit our earnings would allow us to borrow more than we have...

Thanks all in advance.

K_S

@missmoneymanager It just sounds like the case was picked up in a random audit and they're just checking that the POID check matches what their system returned. Nothing to worry about.

As a broker I do get these once in a blue moon, sometimes even after completion. In my case it's the lender checking that I've done the minimum KYC (Know Your Customer) required.

MissMoneyManager said:

Morning all,

We applied for a joint mortgage directly with Santander in June and received our offer in June.  We have since paid our deposit and exchanged on our new house with a completion date set for the end of October due to our vendor relocating and needing time to organise everything. Yesterday we received a text from Santander saying they required more information. When we logged in it was asking for a copy of OH's passport and utility bill. It also now shows on the application progress page that "your details have changed and your application needs amending". We have not changed anything and we still have plenty of time before our offer expires. The next step says "amendment is being reviewed".  I called Santander and they suggested it could be a random audit. Has anyone else had this happen? Is it something to worry about? We were completely honest in our application and although it is a large mortgage with 10% deposit our earnings would allow us to borrow more than we have...

Thanks all in advance.

MissMoneyManager

Thank you @K_S

We have now received the following message:

"We just wanted to let you know that we've received all of the information we need and the change to your application has now been sent to our underwriters."

Does this mean they are likely to look at our whole application again including credit checks?

TheMonsterMunch

Hi there,

I was wondering you had an outcome with this yet?
We are in the same situation, our offer was also pulled on 22nd Sept for auditing..

Thanks

MissMoneyManager

Hi @TheMonsterMunch

We didn't get asked for any more information and the following day we received the message to say our application had been approved by the underwriters. So the whole process was completed within 48hours.  Online it says "your amended mortgage decision is available" followed by "amendment processed". As we had never amended anything ourselves we called them up to check it would all be the same as it was before and were told it would be. 

I hope yours is also sorted soon. Despite everyone assuring me it would be fine I was worried sick given we have already exchanged.

TheMonsterMunch

Oh what a relief for you! That is great news.

They asked for a copy of our P60s, which we sent over straight away and not heard anymore. But we are doing this through a broker and his Santander rep has been off on leave until today. 

This is our first home so quite clueless with the process, but the sellers and solicitors are wanting to exchange and complete same day next week.

I have been worrying so much, because of all the mortgage stuff in the news, I thought we got in just in time then when I heard its being reviewd I havent stopped panicking, I know its out of our hands now, just hoping it's all OK, can't believe the stress lol. Fingers crossed we hear today so not worrying all weekend!! 

MissMoneyManager

Thank you

We applied directly and so when we phoned we told them we had exchanged etc so perhaps that helped to speed things up. Hard to tell as they didn't give much away!

I know how you feel!  We both own other properties and still we hadn't realised there could be an audit or that anything could really go "wrong" from the mortgage point of view after exchange so it came as quite a shock. With still a month to go until completion and with everything in the news I don't think I will be able to fully stop worrying until we are in.

TheMonsterMunch

Totally get you, until the keys are in hand it's a big worry.
The rep has said there is no update on our case, they haven't asked for further info after the p60s, so hopefully they're happy, but thats going to be this weekend worrying now! Rah!