Mortgage application timeline..

vo-vo

Hi,

We are FTB and just had our mortgage application submitted online by London and Country to Halifax yesterday. AIP was given end of yesterday with credit check passed, and apparently we just got a news from our vendor that the valuation will be carried out this coming Monday!

Good news indeed.. but..

I'm worried because Halifax has not even gotten back to us with the relevant documents to send out to them! They have not seen any proof of payslips, identity, passport (on work permit) and other relevant documents yet!

What is the possibility that our mortgage will be rejected at this stage? If it happens (hope not), we will not get refund for the valuation payment right?

Is this always the correct procedure - valuation before document checking?

Could anyone let me know what is the standard timeline from valuation to mortgage offer?

Thanks in advance!!

danjberry

it is a normal procedure because basically if everything you have said on the application is true then there is no reaosn to decline you. whilst if just say for example your salary comes back as less then what you stated on the app form and now outside of their criteria then they can decline you and you will lose the fee because it was your fault. whilst if everything matches up there is no reason for the case to be declined and getting the val done now saves a lot of time. There was a post on here a few days ago as abbey were waiting for all documentation prior to valuation and the buyer was worried he will lose the property and deposit so it does make sense to carry it out early.

If you are uncomfortable then they will be able to put it on hold until after all documentation has been received

best of luck

herbiesjp

You can ask them to wait before they instruct the valuation.

BUt if all your information is correct and the documents support the information on the application you should be fine

It may be an idea just to get L&C to run the work permit scenario past Halifax, just to make sure.

Sometimes, if the work permit is not explained clearly and backed up with the relevant passport stamp or Home Office Letters it can delay things

HTH