Halifax mortgage process

trinh9htv

I'm in the same situation. I can't eat or sleep or think of anything else. Passed my AIP with A pass too. Valuation done without any issues. Then they initially asked for only 1 month's proof of income and then changed their mind and asked for 3 month's proof income (since I had 2 incomes). All provided. Then they asked for proof of deposit, which I provided my bank statement. They can't even read the bank statement and came back querying why there are 2 names of the bank statement, which there aren't... Now they asked for a letter from my employer which I also provided.. And yet, still no news... I'm frustrated. Why can't they just ask for all these right from the start? Why keep coming back and forth? 2 weeks have gone since valuation done and no offer so far.. I'm so irritable.. How much longer is it going to take?!?

sophievenusdoom

trinh9htv wrote: »

I'm in the same situation. I can't eat or sleep or think of anything else. Passed my AIP with A pass too. Valuation done without any issues. Then they initially asked for only 1 month's proof of income and then changed their mind and asked for 3 month's proof income (since I had 2 incomes). All provided. Then they asked for proof of deposit, which I provided my bank statement. They can't even read the bank statement and came back querying why there are 2 names of the bank statement, which there aren't... Now they asked for a letter from my employer which I also provided.. And yet, still no news... I'm frustrated. Why can't they just ask for all these right from the start? Why keep coming back and forth? 2 weeks have gone since valuation done and no offer so far.. I'm so irritable.. How much longer is it going to take?!?

Are you also going with The Halifax? We had our mortgage offer within a week of the valuation. We were fortunate enough to have a very good broker who did all the leg-work in chasing. Do you have a broker? Or have you been chasing yourself?

bronzedg

Im also in a similar position have just applied & paid survey fees upfront what if they decline the mortgage ? will they still do the survey even if they wont lend us the money ? i wouldnt be very happy that :-(
Will the Halifax be comtacting my employer then ? what sort of things do they ask ?

trinh9htv

yes i am applying with halifax. i applied directly at the branch, not via broker. i called the mortgage consultant at the branch almost everyday now and it is very disappointing each day

sophievenusdoom

bronzedg wrote: »

Im also in a similar position have just applied & paid survey fees upfront what if they decline the mortgage ? will they still do the survey even if they wont lend us the money ? i wouldnt be very happy that :-(
Will the Halifax be comtacting my employer then ? what sort of things do they ask ?

This startled me as well when they did it, but yes, The Halifax do conduct the survey before underwriting your application. However, why would they go to all the effort of underwriting you, requesting payslips/P60's etc only to find that the house was not worth what you had offered?

sophievenusdoom

trinh9htv wrote: »

yes i am applying with halifax. i applied directly at the branch, not via broker. i called the mortgage consultant at the branch almost everyday now and it is very disappointing each day

Maybe try ringing one of the underwriter's??

opinions4u

bronzedg wrote: »

Im also in a similar position have just applied & paid survey fees upfront what if they decline the mortgage ? will they still do the survey even if they wont lend us the money ? i wouldnt be very happy that :-(
Will the Halifax be comtacting my employer then ? what sort of things do they ask ?

The process is fairly simple.

1) Credit score the applicants.

2) If the passed the credit score, value the property.

3) Underwrite it, by verifying various things that the applicant has declared.

4) Rescore the application based on the information now available.

5) Offer or decline.

They may contact your employer, asking complex questions like "How long have they worked there?"; "How much do they earn?"; "Are they employed on a permanant contract?". They will usually try to get you to provide payslips and/or P60 though.