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A noble cause for you to try AJ, but alas the rot has well and truly set in; sounds like we are past the gangrene and you have been amputated!!
I concur with all the comments on here and again I have been in this industry for 43 years. After the fantastic days of the best lender ever C&G, my go to lender then became Abbey/Santander over £10m a year I gave to Santander, this was good for many years, OK things tightened up in the whole industry in 2008.
So now what are we left with-: The stupid questions on the App even more painful questions from underwriters. The absolute no understanding of picking the phone up rather than the stupid 4 hr response time when they could have phoned. I am lucky enough to have a first class BDM I’ve had for 20 years; a gap in that time of about 4 years in the recession. Even he has given up trying to fight the underwriters, who, in my opinion are not underwriters, they have no power to underwrite whatsoever; unlike the Building Societies, they tick the box to see if it meets with a list of criteria. So like Mortgages 1555 I have gradually done less and less with Santander, over £24m last year about 1m to Santander. USP’s left =1 OK at a bit of Int Only. I, like a lot of Brokers on here have lots of Self Employed. You’ve ruined that one (Latest year and 5 times income 85%). Gone! We have lenders out there that still like Self Employed IE Coventry; latest year Salary and nett profit. We have some salary and net profit before tax! Why oh why for employees do you deduct for pensions hardly anybody else does. The list of Santandon’t goes on!! Your underwriters don’t understand IR35.
The last straw over a year ago I had a client on £45kpm £540pa FTB 1,200,000 75% so £900k no debts £600k in the bank £200K Car owned you get the picture. Been paid by same employer 3 years for 2 years IR35 so paid into his Business account then transferred to his personal account. Dead easy; was talking to my BDM he said yes we will do it but will treat him as Self Employed LTD. No probs I thought!!! I got Accountants Reference, Salary £540k No Divs (under 2 x income) therefore a few claims to mitigate a bit of his £19k tax per month so manages to make the company loose approx £6k to get a bit of tax back. Overall profit still £534K in reality ---- Yes you guessed it; oh dear the company has made a loss; me, WHAT!! My BDM WHAT!!! Accountant explains how IR 35 works to underwriters- they don’t understand and say company made a loss- I give up send it to Nationwide, all they wanted was the 3 Payslips and Bank Stats issued Offer in a week!! So in conclusion as other brokers have said on here, why on earth would we use Santander, you have NO USPs maybe a bit on Int Only that’s it. I don’t see how you can ever fix this you are well and truly broken. Such a shame you were once really good. Santander have such a nonchalant attitude to "OUR" clients and brokers alike. Good luck with your trying to change it!!
