When out of woods?

Nins12345

Just a quick one we had aip with Halifax Tuesday which then our broker emailed all income docs we then had in the words of Halifax 'full application result- accepted' And mortgage product TAA319 has been secured.
We paid our valuation fees of £355, I noticed on experian they have done credit searches. the estate agent has had survey access and surveyor is due to go tomorrow.
Now being an estate agent myself I know roughly the process and normally this bit can take up to a couple of weeks.

What I want to know after they have done the valuation survey and have surveyors report will they credit check again? Or do they just issue mortgage offer if everything is ok?

For the record we have 32k deposit purchase price is £160k we earn £31000 together plus an addition 8k in tax credits (which nationwide nor woolwich would take into consideration) we have now exchanged on our own house and are moving into temporary accom for a few weeks

harvey115

I would imagine if the lender has credit checked your application after you have applied, they would not do it again.

Valuation is usually instructed after doing all the necessary checks to avoid declines on financial checks. So I would assume your mortgage at this moment would have been secured subject to satisfactory valuation.

Best of luck

PS - if you are going through a broker, they should know exactly what is happening and should be able to give you further details. However I think you are applying direct so keep your fingers crossed.

Wh05apk

You should be fine, however, Halifax operate a "live" credit check system, so they will detect any changes in credit prior to completion, so ensure you do not apply for any other credit before completion as that may tip the acceptance over.

Thrugelmir

Nins12345 wrote: »

What I want to know after they have done the valuation survey and have surveyors report will they credit check again? Or do they just issue mortgage offer if everything is ok?

Is there a reason for this concern?

Nins12345

No real reason for concern I think iv made myself paranoid In my job I see sales fall apart all the time and I read this board religiously I think it's not doing my mental health the best at the moment. I didn't have the greatest credit report I had the odd few missed payments from like 2007 and 2008 but I have been so strict over the last 2 years and had none never had any defaults or anything like that.

I have been informed today they did the valuation survey yesterday so fingers crossed

holly_hobby

Typically they don't go to valuation until first line UW is complete .... however ... all lenders reserve the right to make further ad hoc UW checks post valuation and in fact right up to completion.

That being said, as long as there is nothing you have concealled, and there have been no material changes to your employement/finances, then there is nothing to worry about ... although I quite understand why you're a little shaky ...

If the survey is ok (values up, etc), you should have your anticipated offer mid-week - and then you're onto the heady heights of completion !!!

Good luck ..... wish you well in your lovely new home .

Holly x

Nins12345

Thanks holly I can't believe how quick it's been iv never seen this part go so quick on other sales iv dealt with a work. We only agreed offer on Monday hopefully searches come back quick x

opinions4u

Nins12345 wrote: »

Thanks holly I can't believe how quick it's been iv never seen this part go so quick on other sales iv dealt with a work. We only agreed offer on Monday hopefully searches come back quick x

I once got a case from application to survey to offer in four hours.

It's amazing what being one case short of target on the last day of the quarter can achieve!

Nins12345

We've had surveyors report through today he's valued it at 160 (our accepted offer) and has said similar bungalows have sold between 155 and 175 so fingers crossed

holly_hobby

Thats good - its valued up with no retentions.

The next thing you'll get is your mge offer, then its over to your conveyencer re - searches exchange & completion.

Hols x