FTB and confussed

Matt.lund

Well as title says really, I am a ftb with Halifax no broker!
I did the aip and got accepted yay!
Offered on house yay!
Completed mortgage application and paid valuation fee of £500 does this mean application was successful or does it still need underwriting? As I have read that if Halifax ask for fee then the application is accepted is this true?

Recently viewed credit score on experian ( after being told by Halifax that they only use equifax) and my electoral roll is flagged! BUT it shows my correct address and when I registered, if the application needs underwriting will this affect me?

citrate

It's not sealed yet because they could value the house at less then your agreed price. You'll almost certainly get an offer after the valuation though. If they value the property less than you do then they may offer to lend you less than you asked for and you'd have to make up the difference.

opinions4u

All applications are underwritten.

Sometimes this is done electronically, but often an additional manual check is needed. Manual checks are based on credit score result, LTV, income v loan size, unusual data etc.

If you've passed the electronic credit score and everything else stacks up, the valuer will be instructed. This is certainly a good sign, but not a guarantee of any sort.

It's still possible for the mortgage to be declined after this stage. The valuer's comments can lead to manual underwriting being needed or something else can be spotted before the "offer" button is pressed on the system.

So looking good, but not in the bag yet.

Matt.lund

Good stuff, still trying to sort out the electoral roll thing but no point until I have changed address, just hope the negative effect wont damage the mortgage application. the valuation should be OK, I got the house for 10k under asking price due to the sellers situation.