Surprisingly easy mortgage application

andyuk101_2

Im buying a new build SO property (well aware of risk, shortcomings of scheme etc etc but location is perfect, flat is huge and it has a private terrace with allocated secure parking)

45% share of a £249k property
£112k share and i am putting down 20% of the share as a deposit

Application in principle over the phone with Halifax went through fine, went into branch to finalise it armed with bank statement, P60s, wage slips copies of expense forms (to explain why id gone over drawn last month - £700 of travel expenses for work)

And i have 2 late payment markers on a current account from 12/13 months ago (01010)

Application was approved with no proof of ID or earnings or bank statements, paid the survey fee and finalised the application Tuesday and the survey was completed Thur - full credit search undertaken Tue

Surprisingly easy which is making me a little nervous they'll pull to investigate or realise they haven't checked things

Anyone dealt with Halifax on a similar case recently?

triffid123

Have you had a formal offer from them? or have you just went through the main application and told you passed?

andyuk101_2

Not yet - The advisor in branch stated this would be sent out once the valuation was complete

When the advisor was updating my details following the initial telephone application he kept referring back to a particular screen that had an approved amount on it - when he was satisfied everything was upto date the survey was booked - he even removed my bonus from the financial screen to avoid any potential for confusion

I got the impression that this was just a formality but looking through some other threads it appears that the application goes to the underwriter now before the 'formal' offer is issued

Thrugelmir

andyuk101 wrote: »

I got the impression that this was just a formality but looking through some other threads it appears that the application goes to the underwriter now before the 'formal' offer is issued

The underwriters are the ones that approve the issue of a formal offer.

The fact that you've reached valuation stage indicates that you've met the criteria for the mortgage product you've applied for.

andyuk101_2

Thanks for the info

triffid123

I just recived word from the bank that i had a formal offer in the post yesterday, Halifax also, so i have just finished the application, if you look at my previous posts you will see the whole story, anyhow here a cut and paste of a previous post of what the layout from start to finish was with me:

The way it worked for me was i found the property,
went through the morgage promise application stage,
submitted an offer for the property i wanted,
went back to HBOS and went through the full application which does a full hard credit search,
the house report along with my most recent wage slip and the full application was sent to the underwriters,
and a formal morgage offer was sent to me.

You should be fine from now, although i would not be supprised if they ask you for a wgae slip.

CityBlue

Hi all, none of you have mentioned sending bank statements to Halifax. Have they not asked for bank statements? I have had an application in principle, however I am a bit concerned as I have been in my overdraft for the last couple of months thanks to two expensive car repairs!

jolikyle

Long as your valuation comes through ok- well done!! plain sailing. They'll have your financial histroy all checked prior to this.

triffid123

CityBlue wrote: »

Hi all, none of you have mentioned sending bank statements to Halifax. Have they not asked for bank statements? I have had an application in principle, however I am a bit concerned as I have been in my overdraft for the last couple of months thanks to two expensive car repairs!

They only asked me for my most recent wage slip, nothing more.
I hope this helps.

MiniSis

Halifax didn't ask me for bank statements or wage slips when I got my mortgage and I completed back in June. Very stress free process unlike Santander who I was pin with before but had to abandon due to their rediculous demands for information I couldn't physically provide!

money_maker_3

Halifax will only ask for bank statements if the advisor thinks there is something extra that needs checked or if you are not a pass A credit score, and not all cases go to the underwriters either, branch advisors can do the full offer if the case is squeeky clean