Saffron Building Society Mortgage

Ftbyorks

Hi all. Just wondering if anyone has recently applied for a mortgage with saffron building society and how long their application took ? 

Here’s a timeline of ours (first time buyers, applied through a broker): 

AIP and soft search with saffron -4/5 

Application made :6/5

Hard check - 6/5

Requested valuation : 10/5 

Requested more docs ie p60+proof of deposit - 14/5 

We sent above -17/5 

Hard check - 17/5 

Saffron asked for April payslip -17/5

April payslip sent -18/5

Declaration redone and sent -18/5 

We have no idea if they’ve done the valuation and apparently broker isn’t told until it’s done ? So hard to keep waiting 😭 

kingstreet

You can ask the builder or selling agent if they have had a call for surveyor access to see if a physical valuation inspection is being/has been done.

Ftbyorks

kingstreet said:

You can ask the builder or selling agent if they have had a call for surveyor access to see if a physical valuation inspection is being/has been done.

Thanks ! The estate agents called us about 2 weeks ago to say that Saffron were organising a survey but they didn’t tell us a date. Allegedly, broker says they don’t tell them until after the valuation 😭

kingstreet

Some lenders don't tell us when a valuation is being done; so we phone the selling agent/builder and ask them. It's the only way we know how/when to ask the lender when the report is back and if the property has "valued up."

Ftbyorks

Ah alright, that makes sense! Thank you - shall ring the EA now 😬

Ftbyorks

So our broker is on annual leave until mid next week and the estate agents have no idea if the valuation has been done. They said that Saffron called on 10/5 them to organise access for a valuation. EA said that the valuation should usually be done in about a week and said we should call them next week and only then will they chase. 

Anyone have any idea at what stage Saffron do valuations ? 

Or anyone else here having recently applied for a mortgage with them ? 

Honestly the wait is horrendous 😭😭😭😭

[Deleted User]

The wait here is just the start of more weeks of waiting and frustration until the day the keys are put into the front door.

It's very difficult to take the emotion out of buying, and selling, but do try or the next few months will see you go insane.

Buying and selling takes months 😔

Sweetpuff

Here is our timeline: second house buyers,  through broker. Joint mortgage self employed company director and fully employed 

AIP: 09/06/2023

Application made: 09/06/2023

How is your process going? 

Ftbyorks

Sweetpuff said:

Here is our timeline: second house buyers,  through broker. Joint mortgage self employed company director and fully employed 

AIP: 09/06/2023

Application made: 09/06/2023

How is your process going? 

Extremely slow sadly 
our broker went on annual leave for 2 weeks just after applying. The full application was made 6/5 and Saffron requested a survey and had it done on 11/5. Our broker returned end of May and chased it. 

Saffron said the survey hadn’t been done because vendor didn’t give access  and that the broker had to reorganise it.
Our MB then spoke to the surveyors directly who said they had done the survey and Saffron were mistaken 🤯 

This is the last update we had on Friday ie 2 days ago. And now MB is chasing it again. 

I don’t think our MB is the greatest if I’m honest, but saffron are being weird. They’ve been asking for ‘proper’ bank statements every couple of days or wanted our full name and address on the statement and we had to request the bank to amend it, etc. 

Shall keep you posted ! And thanks for sharing .. feels a little less lonely here now 😫

Sweetpuff

I just had an update today that Saffron have instructed a valuation to be carried out and our application has been passed unto the underwriters for review.

One of the requirements is an accountants reference which should hopefully be requested from my accountants in the next couple of days. 

When you say survey, is that the same as the valuation or is that additional? Will you be given the report? 

Hopefully you get some good news soon! Nice to have someone going through it too.

Ftbyorks

Sweetpuff said:

I just had an update today that Saffron have instructed a valuation to be carried out and our application has been passed unto the underwriters for review.

One of the requirements is an accountants reference which should hopefully be requested from my accountants in the next couple of days. 

When you say survey, is that the same as the valuation or is that additional? Will you be given the report? 

Hopefully you get some good news soon! Nice to have someone going through it too.

Ah apologies yes, meant to say valuation. 

They’ve had a few more queries for us today - basically want us to pay off a few cards and wanted more proof of my locum pay (which is confusing for me too so I don’t blame them). 

So their valuation company is Connell’s (here in Yorkshire - dunno if the same all over the U.K.). They don’t disclose any information about the valuation even to the broker. Just told her they’ve completed the valuation and passed on to Saffron. I suspect they wouldn’t have more questions for us unless the valuation was okay? 

We were also told by MB today that Saffron are extremely busy as they’ve had a sudden influx of applications (I suspect with the other major banks pulling deals, this was meant to happen). 

MB said we should find out anytime now as they’ve got everything they asked for and their current time frame for processing documents they asked for is about 2 days. 

Fingers crossed for both of us 🤞🤞🤞