Halifax - our buyer's mortgage taking soooo long!

Niowrtt

I am getting a mortgage arranged with Halifax and they tell me they are running a week behind.

No idea if that is spin or what.

JustineT

Glad yours worked out, it gives us hope. Just want to post from the other side for anyone else wondering about Halifax. We are FTBs and had an offer accepted in early April and are still waiting to hear about our mortgage. We supplied all of our documents 2 1/2 weeks ago and still haven't heard anything. We were told they were taking 4 - 5 days to process documents, then when we didn't hear, they said they were taking an extra 48 hours, should hear Wednesday, still nothing, chased up again, still nothing. For anyone experiencing delays with the Halifax, it does seem to be something lots of people are experiencing, fingers crossed we've got to make it to the top of the pile eventually. All this, just to get 'approved subject to valuation' and not even the official offer. Is anyone else experiencing the same?

mic200202

You need to be clear about what you have applied for.The Halifax will instruct survey immediately on receiving a full application (you will pay beforehand). This is irrespect of other docs they need.

So has the survey been done? They will request any other docs needed after an underwriter looks at the case.This may include asking for references which might delay things.Did you apply through a branch?

If a survey hasnt been done then its more of a concern.Have they just done an agreement in principle?

I have noticed a longer time with them recently but its around a 5 working days delay.So not too bad in my eyes.

JustineT

It is being managed by a broker and I am being told by them that they tend to make sure everything is in place before booking the survey. I thought that this was a proper application and not an aip, although obviously it will be subject to valuation. It is Halifax premier, not sure if that makes a difference. Already feel like I am stalking the broker, but should I be concerned?

mic200202

JustineT, Halifax Premier is a dedicated unit within the broker's teams for dealing with larger loans as below...
Halifax Premier Mortgage Services our dedicated team for mortgages of £300,000 or more has relocated to new premises.
To contact our team please use the new contact numbers below:

New Business - 020 7012 8560
Case Updates - 020 7012 8559

There's nothing to stop you calling them yourself if you know your Roll Number (begins with A/) and ask where they are with the app.Usually,it will be one of the following: its in a pile to get actioned;they are waiting on other things to come in ie references etc,or occasionally they have everything in but just havent asked for any outstanding info from the broker.

It could be simply that the lender is being more careful with larger loan amounts.When you are dealing with timescales remember they always talk in terms of 'working days' which may not match your own timescales.I would imagine the survey fee for a more expensive property would be a reasonable sum,so maybe the broker is just trying to protect you by leaving this to last.

wibbs_2

We are in a chain with someone waiting for mortgage approval from the halifax. All the paperwork was submitted 2 weeks ago and there is still no news. They have had their survey done but still nothing. We keep being told there is a backlog but no one will give a date for when the mortgage will come back.

The problem is it is not our mortgage so we are helpless. I really want to complain but don't know who to complain to. Any ideas? Thanks. The house we want to buy has been put back on the market as the vendors have lost patience. Is very stressful.

opinions4u

wibbs wrote: »

We are in a chain with someone waiting for mortgage approval from the halifax. All the paperwork was submitted 2 weeks ago and there is still no news. They have had their survey done but still nothing. We keep being told there is a backlog but no one will give a date for when the mortgage will come back.

The problem is it is not our mortgage so we are helpless. I really want to complain but don't know who to complain to. Any ideas? Thanks. The house we want to buy has been put back on the market as the vendors have lost patience. Is very stressful.

The issue is your buyers. It is very rare that Halifax will sit on information provided for a long time prior to issuing an offer. This implies that there is outstanding documentation that needs to be provided by your buyers in order for the mortgage to be offered.

14 days isn't an excessive amount of time though.

sharon1982

Our application for a FTB mortgage with the Halifax was submitted last Thursday via an intermediary. He called them up a few hours later and was advised it was with the underwriters and would be looked at in the next 3-4 business days. Our survey is booked for Friday.

Really hope they are not too far behind as the vendor is not in a chain either so hoping to complete before the new budget!