Halifax Mortgage Offer

Worryingagain_2

Hello,

We have had an offer accepted on a house and we have received our formal mortgage offer from Halifax. We did this through an IFA.

We are very happy it was approved as my partner has started a new job (more money, same field) but is on a 3 month probation period as he has only just started.

Because of the above, I am so worried the offer will be withdrawn for some reason after we exchange contracts and before completion. I think exchange and completion are happening within a week or two of each other.

When does the solicitor get the funds from the bank? Is it just before completion or before exchange? I would feel much happier paying my deposit knowing the solicitor had the rest of the money ready to go but I doubt it works like that!

Thanks for reading. I am just so worried about paying our 10% deposit (£29k) and then having the mortgage taken away.

Thanks.

MiniSis

I've not had my offer from Halifax but the surveyor was instructed on Friday and I too have the same worries but only from reading this forum i think. I raised my concerns with my solicitor, just asking how often mortgages are pulled late on and she said its rare and only if their is a change in your circumstances such as you are fired or made redundant, or if something fraudulent comes to light, or an undisclosed bankruptcy or something. So I am not worrying. But I don't have the actual offer yet, so not getting excited!!!

Also I belive deposit is paid to solicitor on day of exchange and the funds from the bank are released in completion.

Dave_Ham

Halifax rarely pull mortgage offers unless something serious, serious is up..

Relax people...

Katiekink

I know how you feel, we've applied with Halifax first time buyers 75% bf has a default and some missed payment back in 2010 we complete this week so I will let u know if Halifax release the funds I am dreading it.