Halifax Mortgage Decision Driving us Mad !

michael1234

Hi

How long should it take from making a full application to a survey being carried out with the Halifax? Any people have any experience of their process and timescales?

Our buyer applied apparently Tuesday last week (9 days ago) and was told that he had "passed" the credit check. On Monday of this week (3 days ago) he told our EA that he would have a decision in "48 hours" but still no news and no hint of a Halifax survey being booked in.

We're particularly worried because the buyer was rejected on a Natwest mortgage although he does bank with the Halifax and has a 25% deposit.


:eek:

Crinz

when an application is made a valuation should, in most cases, be booked within a few days, its generally just a case of the valuers phoning the EA to arrange a time.

the time to carry it out has increased recently with new product offerings and increased business. I had one booked 8 days in advance for a drive-by valuation.

Bit annoying but thats the timescales at the moment

opinions4u

It's not brilliant.

Lack of business.

Reduce number of valuers.

Business picks up.

Leave number of valuers the same to control costs.

Summer holiday ... 20% of valuers are in foreign countries soaking up the sun.

You want your house sale sorted!

Patience, me thinks.

(That said, in my experience, if a case is clean and the valuation is paid Halifax are pretty damned good at getting the valuer out and the case offered).

shimano

Not sure, but Santander moved fast for me. Mortgage accepted Monday, I confirmed fast track on Tuesday, survey booked this morning (2 day turnaround).

If he is not on a fast track, could be checking docs, waiting for signed application etc

Trollfever

The replies to your other thread can be found here:

https://forums.moneysavingexpert.com/discussion/2660131=

lossofbargain

haveing applied to halifax via a mortgage broker, we got a yes there and then and before I could get to the car the broker told me that the valaution had been instructed, no payslips required or proof of earnings. the valaution was booked the next day and carried out 2 days later. it depends whether your buyers have paid the fee!

Willow1914

We (FTB) are also waiting for a decision from Halifax from almost 3 weeks ago when we submitted formal app. Now it has been referred to a specialist team and still waiting! We are chasing everyday, but just getting delay after delay.

michael1234

THanks for replies. I suspect (but may be wrong) that going through a broker may yield a faster decision so long as you are not pulled for scrutiny of the underwriters.

Willow: Has the survey been done on the property you are buying yet? One thing I do know about my buyer is because he's been burned before, he is doing his best to avoid the valuation 'till the very last minute to reduce the chance of a rejection post valuation.

Not wanting to feed a troll but just to be honest, I created a separate thread because this one is specifically about the Halifax mortgage process and I wanted to see if others had similar experience of applying for a mortgage to that bank.

becca0417

Not to worry you but we were told we had passed credit check, load of rubbish. Luckily they wouldn't do the valuation until they were sure all credit was ok. So once the valuation is done, should be fine.

ztan

It took between 5-7 weeks for me and my partner to receive our formal offer from Halifax.

Although apparently ours took longer as a shared equity sign off needs special attention and we got stuck at the bottom of the pile.

Best thing is to keep nagging and make sure they're aware that you're waiting.

michael1234

Hi

Just to update that we still don't have a decision and still no mortgage survey has been done !

Our buyer has apparently told our EA that the branch based Halifax advisor who is dealing with his case had previously verbally approved everything (subject to survey) but has now gone off sick for the past week !

Is it true that the Halifax applicant who applied in branch, can't have his case proceeded until this person gets back from sick leave? Surely, the key decisions are taken at head office and anyone there could progress it?:mad: