How long do mortgage applications normally take

jintynetty

We received a mortgage promise from Halifax 2 weeks ago today, last week we received an approval in principal; last Friday we were told by the Broker that we should receive our mortgage offer on Monday (yesterday) today the Halifax have advised that they are snowed under and they haven't looked at finalizing our application yet! Is this usual?

dippydog_2

Have they done the valuation yet?

We received an AIP last week, the valuation was done yesterday...

Then it needs the underwriter...

jintynetty

Yes I think so! Does the Halifax instruct someone to do the Survey or do they ask the mortgage brokers to do it? I'm sure our broker instructed it (we had to pay for it?)

dippydog_2

Well have you had contact from the valuer? And a report from them?

jintynetty

Yes, well not directly, but the mortgage broker advised that the house was valued for the amount we needed for our mortgage (£85k) and we are paying a £13k deposit, so effectively looking to borrow £72k; we have a house under offer and we don't think we would get another house so affordable! I just worry incase the Halifax surveyor doesn't think the house is worth £85! I know it sounds stupid but I worry that something will go wrong, my nerves are shattered!