Santander Underwriting Process

needadvicehere

For a Santander new FTB mortgage, does anyone know if the underwriting is two-stage, ie (1) initial underwriting where the junior underwriters will check whether all the documents are in order, and (2) final underwriting where the senior underwriter will do a final check before instructing valuation?

JMA74

2 stage process but not as you described:

Stage 1 is someone checking that the documents that have been supplied match the ones that have been requested.  Once they have verified that it is passed to an underwriter. Valuation usually instructed either immediately on applicaiton submission, or after this document check

Stage 2 is underwriting.  The level of underwriting you get is decided by your risk profile in advance of the case being allocated.  So self employed, large loan size, undisclosed debts in background etc etc.  All goes in to a modelling system and the system makes sure your underwriter has the remit to make a decision. 

Very occasionally you will get another review after your case has been approved but this is 99% of the time done at random and is usually to check the work of the underwriter rather than look at your case again

needadvicehere

@JMA74 thanks for your response, much appreciated!

needadvicehere

Submitted my direct application to Santander two weeks ago.

Underwriter took one working day to request further documents. Supplied the documents the next working day.

Underwriter came back the next working day with a further request. Mortgage adviser challenged immediately stating we have already supplied the document on file, so that wouldn’t be necessary.

Have never heard since then and it’s the 7th working day since the last request. @JMA74 Does this mean rejection? 🥲 

To add: no adverse credit history at all; falls within the lending criteria; overseas gifted deposit but have all the necessary supporting documentation submitted

JMA74

unsure about direct but broker cases are currently on a 1 day turnaround so if you haven't heard anything for a week its definitely worth a chase to see whats going on. 

You'll have had a decline message if it was going to be declined.  My guess is that the automated process to move it to the different departments has failed in some way and its sitting stuck somewhere.  It happens with pretty much all lenders so i wouldnt be surprised if that was the case

needadvicehere

JMA74 said:

unsure about direct but broker cases are currently on a 1 day turnaround so if you haven't heard anything for a week its definitely worth a chase to see whats going on. 

You'll have had a decline message if it was going to be declined.  My guess is that the automated process to move it to the different departments has failed in some way and its sitting stuck somewhere.  It happens with pretty much all lenders so i wouldnt be surprised if that was the case

Thanks @JMA74 again for your response!

I will definitely chase them. Although they have quoted a standard turnaround of 5-7 working days for a standard case, the advisers have said it usually takes around 2 working days given the quiet season now. Strange that I’ve not heard anything after the standard timeframe.

Am I correct in understanding that if an underwriter were to decline a case, they would have declined it from the onset (rather than dragging their feet for weeks), unless it’s a borderline case?

JMA74

to be fair they can decline a case at any point but its unusual as bigger lenders need to try make decisions quickly to get all the cases through.  It is very rare for them to decline a case post application unless its a result of keying errors initially or they cant get documents to verify what they have been told.   
I'm sure its fine,just stuck somewhere

autumnorinoco

@needadvicehere did you hear back in the end? I'm also waiting for a Santander response with very similar timescales after additional info was given.