Is this right???

kells1232002

Hello

I have just been to my local branch of Hlaifax to complete my mortgage application. I am purchasing a 25% share in a property and have a 20% deposit.

I completed the agreement in principle with Halifax a couple of weeks ago and they said I had passed on their credit scoring system as an A.

While at the branch today completing my application, they only asked for two forms of ID. No bank statements, payslips, P60 etc??

I paid for the valuation and asked what the next step would be. As I believed once the valuation had been completed, this was sent to the underwriters and then they would ask for any other details they may need before accepting or declining offer.

Although the mortgage advisor informed me this was incorrect and my mortgage would be accepted as long as the valuation was fine. He said my credit pass was fine and as long as I didnt go over my overdraft or credit card limit between now and when they make the decision, then I would be fine.

Is this right?

Sorry I am just panicking.

(please no comments about shared ownership)

Many thanks

happybroker

this is nothing to do with the shared ownership side of things but is "fast track" where by they are happy with you to the point that they believe what you have told them about your income etc.

they do reserve the right to ask for this information though so have it ready just in case. I would be interested to know if the "advisor" has seen a payslip?

kells1232002

Yes when I completed my agrrement in principle.

Mrs_Bumble

Hi out of interest did the Halifax adviser go through income and expenditure with you at all?

As happybroker says above sounds like because of your credit score and the overall LTV that they are going to process the application under their fast track system so I shouldn't worry too much. Just keep copies of your payslips and P60 to one side just in case they do request them at a later date.

kells1232002

Mrs_Bumble wrote: »

Hi out of interest did the Halifax adviser go through income and expenditure with you at all?

As happybroker says above sounds like because of your credit score and the overall LTV that they are going to process the application under their fast track system so I shouldn't worry too much. Just keep copies of your payslips and P60 to one side just in case they do request them at a later date.

They asked me what the rent will be on the share and the service charge and ask about other any credit commitments I had, which I declared.

Thanks

AliceBanned

Hello

I spoke to Halifax yesterday and was told that I was accepted on principle and had passed their credit check. I am also worried because generally I don't get accepted by high street lenders that easily due to past CCJ four years ago. The mortgage adviser at Halifax didn't seem to take much notice of the CCJ and didn't ask about my expenditure at all apart from credit cards. I am worried I may pay £280 for a lender's survey and then be turned down later, although he told me this wouldn't happen. Not sure whether to go ahead and have a mortgage broker looking separately anyway; he has found it hard to get me anything without a bigger deposit.