First Time Buyer Worries!

r83_2

That is one sad statement So, it does happen? Any idea of time scales from there on? I have been told 48 hours, does it sound right?

kingstreet wrote: »

Approximately 8% of cases are pulled for audit anywhere between application and completion. You could be lucky, you could be unlucky.

kingstreet

r83 wrote: »

That is one sad statement So, it does happen? Any idea of time scales from there on? I have been told 48 hours, does it sound right?

I'd say it takes longer than that. At audit your broker can be asked to produce practically any piece of documentation they like. Most of us get everything we can think of ready at the outset, but just occasionally they'll think of something we didn't.

On the basis something has to be obtained, copied and faxed and Halifax has to receive it and scan/add it to the case I'd say a week is more realistic.

r83_2

Ta mate. I won't check my phone every minute for next 7 days lol (I'm sure I still will though). Ta for your help xxx

kingstreet

r83 wrote: »

Ta mate. I won't check my phone every minute for next 7 days lol (I'm sure I still will though). Ta for your help xxx

Has your broker said your case has been pulled for audit or that it could be pulled? It may simply be in the pile for underwriting if everything is back in.

kingstreet

SusieWoozy wrote: »

It says first time mortgage apparently, or something along those lines. Is that a good or bad sign?

Normally there's a mortgage search as you have mentioned above and possibly an unrecorded enquiry which is the voter's roll search as part of the identity/money laundering checks. More than one search may show if he has multiple addresses in the last few years.

r83_2

I am sure she mentioned that it has been pulled for audit yesterday. I am still struggling to digest this. Valuer was at the site yesterday between 11-12. I had a call from brokers Admin staff that everything is okay from valuer and no comments by valuation officer. Underwriters are looking at it as we speak and we may get some update by EOD or tomorrow (Tuesday) morning. Didnt hear anything until 3pm today so thought of calling her and thats where she mentioned about 1 out of 3/4 file gets pulled by head office for audit and ours is one of them. It went for auditing YESTERDAY and we have to allow them 48 hours, but we shouldnt worry about anything it will all be okay. Easier said than done aye !!!

I have just got the below email from my mortgage broker -

Hi R,

Just spoken with xyz here. Your case has been picked up at random by the Halifax Audit Team. This does not mean that there is a problem, but one in three cases do now get checked for audit amongst the lenders for more thorough checks.

This is not a reflection on you, but is merely a random check. Should cause no issues, so far as I am concerned, but I will of course, keep you updated on the underwriters’ comments, who do ultimately have the final say.

Should have more of a concrete update by Friday of this week.

Kind Regards

xxx

kingstreet wrote: »

Has your broker said your case has been pulled for audit or that it could be pulled? It may simply be in the pile for underwriting if everything is back in.

SusieWoozy_2

thanks so much, the full amount for the valuation has gone out the bank today (thought it had gone yesterday) so am hoping everything is going to be OK based on an earlier comment!

r83_2

Good luck SusieWoozy !! Kingstreet, does above email from broker make any sense to you?? x

SusieWoozy_2

Good luck to you too hun!

Valuation is being done today so hopefully we are on the home straight (and i'm also guessing as the valuation is being done they are happy with everything else?)

r83_2

Ta hun x
Some IFAs in here have confirmed that once the valuation is completed, you're indeed on home stretch, providing your application does not get pulled for Auditing like ours have I truly hope yours doesn't. If so, you'd have taken giant step towards your dream in few days time. Good Luck. Bless FTBs !!!

SusieWoozy wrote: »

Good luck to you too hun!

Valuation is being done today so hopefully we are on the home straight (and i'm also guessing as the valuation is being done they are happy with everything else?)