Halifax random audit checks - last minute!!!!

TeeMac67

I LIVE IN SCOTLAND AND ........I applied for a Halifax mortgage some 4 weeks ago to purchase a property. My broker applied and gave me the AIP figures based on the information I had provided him with.
The AIP figure made it possible for me to put in a formal offer for a house I was looking to purchase and the offer was accepted.
I did a part exchange and received cash for the house I was selling which was fully settled on the Tuesday. The settlement for my new property i was buying was not due til the Friday giving 3 days for any last minute hiccups.
On the Tuesday prior to the Friday settlement my broker received notification from THE HALIFAX that they were doing a random audit check and could I supply 3 months payslips and banks statements - which were supplied within the hour. I knew these matched the information given to the broker so was not unduly concerned.
A full day on and there was still no word from the Halifax other than that the offer would be with us in due course.
Another day on and 8 hours of phone calls from my Broker there was still no sign of the offer and time was getting close to settling with the sellers (who, may I add were heading off to Miami with 4 children) on the evening of settlement.
Now onto the Thursday (day before settlement) and once again a full day spent on the phone to Halifax who kept saying the offer would be with us by 5:30pm and it was just getting checked off.
This went on all day and by 5:30pm there was still no sign of the offer.
Now onto the Friday and the day of settlement and at 11am the HALIFAX then requested confirmation from my employers that my pension was taken in cash as opposed to being paid into a fund and that it was contractual and guaranteed - once again I could do this as I had been truthful from the outset. My employers turned this around in 1 hour and we throught we were home and dry.
Now pushing lunch time and the sellers and the seller solicitors are panicking as am I!!!
At 3pm the HALIFAX then came back to us and said that the offer they originally made would be reduced by £9k as they would not take my full family & child tax credit into account nor my pension amount.
This now put me in the position that I could no longer purchase the property that I had offered for, I was due to move out of my rented accommodation, the removals company had to be cancelled, the workmen and all deliveries had to be cancelled and I had to make several phone calls to familoy members to try and come up with the extra cash to enable me to purchase the property (as I was now in effect homeless) and the family were due to flying to Miami in less than 5 hours.
I managed to raise the extra cash to enable me to conclude the purchase, however, it was too late to transfer funds on Friday as the banks had all now closed for the day.
It is now Sunday afternoon and I have no idea what tomorrow will bring - I am now in limbo and cannot believe that the HALIFAX did this to me 3 days prior to settlement.,
I ABSOLUTELY understand that audit checks must be done - I work in the financial sector - and I understand WHY they are done, however, why do this to a customer 3 DAYS PRIOR to settlement and in view of the fact that i WOULD NEVER have offered for the property if I thought I could not get the mortgage to buy it.
Any Advice here please because I am one sad, frightened and extremely confused person who has a family sitting in limbo and a major financial worry ahead of me due to the commitments i made based on the mortgage offer made to me by THE HALIFAX.

PLEASE, PLEASE HELP ME

Thrugelmir

Did you receive a formal mortgage offer (that you signed and returned) prior to notification that your application was being reviewed?

TeeMac67

No - the Brokers' system linked to halifax stated that they were just awaiting a refresh of the valuation prior to issuing offer, which was duly arranged and submitted,.

roonaldo

I think he/she said that they were waiting for the offer. This makes no sense, the solicitor would be in no position to start legal work until they receive a copy of the mortgage offer. They still need to exchange contracts, do searches.

You were never going to complete this last friday, never in a zillion years. The solicitors set the completion date when they're both ready, not you.

TeeMac67

This is no hoax post!!!! This is Scottish Law and the solicitors CAN start legal work and exchange contreacts.
There is no need to be so ignorant - you could have asked some questions before coming to your conclusion

TeeMac67

I beg to differ - are you familiar with the Scottish system?

roonaldo

you didnt say it was scotland, they do it differently to england, wales and NI. no idea.

TeeMac67

I did when replying to the fact you were claiming that my post was HOAX - In this traumatic time I do not need accusations - I need help!!

The_Palmist

I guess we can just hope for the best in this case. Its always a good idea to have some spare days between finalising thing. I also think its very unwise of the other party to plan their flights on same day.

Moon_Boi

TeeMac67 wrote: »

I beg to differ - are you familiar with the Scottish system?

Why didn't you say that in the first place, seeing as the majority of patrons frequenting this message board are from England.

roonaldo

yes now you have, but you didnt initially. someone will come on whos knows the scottish system.