Halifax Mortgage Decision Driving us Mad !

FraudBuster

Halifax is owned by Lloyds Banking Group.

Nat West is owned by Royal Bank of Scotland Group.

Both partly owned by the taxpayer.

michael1234

FraudBuster wrote: »

Halifax is owned by Lloyds Banking Group.

Nat West is owned by Royal Bank of Scotland Group.

Both partly owned by the taxpayer.

Really.....? I must have had my head in the sand during the past two years.

Sorry, but I was being sarcastic having received your "advice" which seemed to incidicate that all banks' mortgage criteria are identical.:rotfl:

sophievenusdoom

michael1234 wrote: »

Really.....? I must have had my head in the sand during the past two years.

Sorry, but I was being sarcastic having received your "advice" which seemed to incidicate that all banks' mortgage criteria are identical.:rotfl:

Uhm, I don't think he said quite that, but that there was obviously a reason why NatWest declined him, and maybe the reason why the Halifax are holding things up could be something to do with that?

Blakey74_2

We saw a local broker today. AIP done straight away. Full application went in at 2pm. Survey arranged for tomorrow.

We were told Halifax are turning around application to approval in 5 days in some cases which we assumed was a bit of an exaggeration but seems it may be true in some case.

We do though have 30% deposit and both of us had a A+ credit rating with the Halifax.

michael1234

Thanks for the info Blakey. What I know about our purchaser is that he has a 25% deposit, is a foreign national, applied 4 weeks ago and was told the credit checks were fine and ok to proceed. They also wanted to do the survey within days but he asked them not until everything else checked out ok.
Since then, they've been asked him for payslips, p60 and other docs. They seem to go quiet for a few days then ask for more stuff. The latest is details about his HR dept at work so they can verify his payslips !

I'd be amayzed if you get your full mortgage offer in 5 days but please let me know if you do !

opinions4u

michael1234 wrote: »

I'd be amayzed if you get your full mortgage offer in 5 days but please let me know if you do !

I'm going back to pre-Credit Crunch days here, but 25% deposit, pass A or pass B on the credit score and a valuation report = mortgage offer in the majority of cases.

A 48 hour mortgage offer was not unusual.

is a foreign national

Foreign national status will certainly lead to checking everything out that's possible to check out.

babylonfree

michael1234 wrote: »

Thanks for the info Blakey. What I know about our purchaser is that he has a 25% deposit, is a foreign national, applied 4 weeks ago and was told the credit checks were fine and ok to proceed. They also wanted to do the survey within days but he asked them not until everything else checked out ok.
Since then, they've been asked him for payslips, p60 and other docs. They seem to go quiet for a few days then ask for more stuff. The latest is details about his HR dept at work so they can verify his payslips !

I'd be amayzed if you get your full mortgage offer in 5 days but please let me know if you do !

I used the Halifax and because of them we lost the house we'd had an offer accepted on. They were quite simply the most idiotic bunch of cretins i'd ever had the misfortune of dealing with.

A couple of examples....

I sent through all my bank statements and pay slips etc. They took two weeks to even bother looking at them, they then had the cheek to turn around and say what i'd sent wasn't up to date and that they needed the latest ones. If they looked at them within 12 days of them arriving then they would have been fine!!!!!

When they were eventually happy with the statements they sent them back to me saying they wanted me to tell them exactly what each transaction was for... including one for 34p!!!!!!!

I then went through the nightmare of them telling me three times the valuation had been arranged, only for the estate agents to say each time they had heard nothing from them.

The list could go on and on!! In the end the vendors pulled the plug on us because they thought we were taking the p****.

Blakey74_2

michael1234 wrote: »

Thanks for the info Blakey. What I know about our purchaser is that he has a 25% deposit, is a foreign national, applied 4 weeks ago and was told the credit checks were fine and ok to proceed. They also wanted to do the survey within days but he asked them not until everything else checked out ok.
Since then, they've been asked him for payslips, p60 and other docs. They seem to go quiet for a few days then ask for more stuff. The latest is details about his HR dept at work so they can verify his payslips !

I'd be amayzed if you get your full mortgage offer in 5 days but please let me know if you do !

Mortgage approval has been sent out today and we should get tomorrow. I suspect that foreign national is the problem. We tried to sell to a couple back in 2004 and gave up after a month as it was obvious there was going to be problems for them and they would not get the mortgage.

puppychick79

We have recently taken out a mortgage with the Halifax and went through a broker and ours seemed to take a long time for what should have been a realtively easy transaction. Mortgage in principal was alomost instant but the rest took a good few weeks. We had to get mortgage offer letter redone (our fault not theirs!) but each time it took between 3-5 days for the paperwork and when it did come it was wrong ( to the tune of £740) but at this point we were well and truley fed up so just paid it! Each case is different I suppose, but one good thing is when we did reieve the offer letter the solicitor requested the money on tuesday and we completed on the Friday of the same week.

FraudBuster

From another site:

Residency

• All applicants must be resident in the UK.
• Applicants with an immediate previous address abroad in the last three years are not accepted.
• Foreign nationals must be resident in the UK for at least three years prior to application and must have permanent right to reside.
• Foreign nationals must have a UK bank account.