Halifax Fast Track Mortgage

Uncle_Fester_2

I've got an AIP from the Halifax for a 85% LTV 'Fast Track' Mortgage, on a 2 year fixed @ 4.99%.

Mortgage Broker has told me, that they can ask for income proof at anytime! (but hardly ever do) Is this true?

Also, if this product is not a true self cert, then what's the difference?

Many Thanks

TEDDYRUKSPIN

Erm. Don't trust your mortgage broker!!! Are you within affordability? You will have no one to cry to once you sign away on that declaration!
Go through the right channels! No such thing as fast track!

The_Bear_6

There is such a thing as fast track. But I am concerned that you may have lied about your income to get a better deal? That is very serious and your broker will be sacked if discovered and you could have problems in the future.

herbiesjp

Your broker is right

They can ask for any extra information they require at any time

You should not really have anything to worry about if your application is 100% accurate

HTH

Uncle_Fester_2

I’m Self Employed and have full Accounts, so income proof is no problem.

I need to complete within the next few weeks, as my vendor may pull out…income checks, refs, will mean time which I don’t have!!!:eek:

Why is Halifax calling this product ‘Fast Track’ if it’s anything but Fast???:mad:

herbiesjp

It should be fast - what makes you think it will not be fast?

The last cases I have done with Halifax I've had offer letters out within a week - can't really complain on those timescales

As long as your broker is on the ball, you have a survey done very quickly, and offer letter issued sometimes on the same day of the survey.

It is then down to your solicitors that you meet the deadline you have set yourself.

HTH

TEDDYRUKSPIN

What? One week fast? That is not fast! That is standard!

herbiesjp

Did I say fast?

No - I just asked why the OP would think his application would not be fast.

I then gave a timescale of one week of what I had recently experienced - one week would still meet OPs deadline

icklejulez

One week for a mortgage to come through!!!LOL More like 5/6 weeks. Im sure the OP if not talking about an AIP.

I too have been told I have been placed onto a fast track application with Chelsea after they never followed through with the valuation they promised me withi 48hours. Just wondered if anyone knows what this may entail if the valuation is to be carried out on Thursday. Also how long may searches take?

Sorry to Hijack your thread but perhaphs these answers may be relevant to you too OP.

herbiesjp

icklejulez wrote:

One week for a mortgage to come through!!!LOL More like 5/6 weeks. Im sure the OP if not talking about an AIP.

.

Nope - that is 1 week for a formal mortgage offer letter (survey done etc)

An AIP takes about 5 minutes to get with Halifax

HTH

Uncle_Fester_2

herbiesjp wrote:

It should be fast - what makes you think it will not be fast?

Just bad past experiences in the housing market