Additional borrowing from Santander

[Desert Flower]

Can someone explain to me please why Santander are being so difficult.We have a mortgage with them and wish to borrow £10,000 additional borrowing on our mortgage for home improvements and paying of old debts.
The very long winded phone interview went okay until we were asked of proof of my husbands contract of employment.He is an HGV driver and has been for 20 or so years,he has recently been made redundant and went straight into work again the next day.He is about to recieve a contract as he is coming up to the 2 month mark when they recieve them.
They wanted proof of a fixed contract,which he explained that they are basic fixed contracts.Apparently this is not enough information we have to prove that it is not renewable in a years time(it isn't)but from what i can gather it has to state he is permantly employed there(which in his line of work he is).
They want to know he will always be there to pay this extra loan of,but we don't know of any contract that states you will never loose your job!!!!??.
NOBODY CAN GUARANTEE THEIR JOB,can they!!??
What a great sense of security that would be,would'nt it!!!.

[Desert Flower]

Re: Additional borrowing from Santander

Does anyone have any views on this or anybody know what the crack is here.
I really don't know what they expect from a contract!!!

[Lowry123]

Re: Additional borrowing from Santander

Lending... I had the same thing with them... spoke to my friend who works for them also a broker.. Santander are just not lending...my friend works as a financial advisor... all she can do at the moment is talking about selling ISAs also my broker advised me he has people with squeaky clean credit and they have clients who are down sizing the mortgages and the Santander wont even do a re mortgage for them!

May have something to do with they have no money!

Maybe a broker with another lender could be a better option as long as you have a 25% equity in your property...hope this helps

[Celestine]

Re: Additional borrowing from Santander

It sounds like when your husband actually receives his contract, that will hopefully suffice.

Presumably he is not on a temporary or 1 year contract, so he would be on a permanent contract?

A permanent contract doesn't state that you will never lose your job, but does confirm that your job is permanent and to lose it you would need to be made formally redundant etc.

My sister, on a modest income is just going through a so far so smooth remortgage with Santander. Hope yours works out too.

[Desert Flower]

Re: Additional borrowing from Santander

Thanks for the responses,fingers crossed,i'll let you know the outcome,cheers.