Mortgage Completion Concerns - Please Help

wssb

Hello everyone,

I have had the happy news that my Mortgage application has been approved and subject to the Home Report refresh everything is looking good to go.

However, as I enjoy torturing myself I have been looking on the internet at some articles where lenders have withdrawn mortgage offers hours before completion, and this has left me very concerned.

My mortgage is with Halifax, and I have very recently moved house, only since last week and the original credit check was done on my previous address. My mortgage advisor is aware of this and has updated my details on file. What is worrying me is will this affect a credit check if Halifax re-check me before completion? Do Halifax re-score you before completion?

And as I live in Scotland, does anyone know what would happen if my mortgage offer was withdrawn and I couldn't complete. Would I have any financial liability to the seller?

I would appreciate any advice that anyone could give, either if you have professional knowledge of this or personal experience.

Thanks again from a very nervous FTB.

anne1980

Hello,

I hope yougot sorted I need some advice as am worried sick. I have mortgage offer accepted and am due to move in 3 weeks. We have signed agreement with santander and morgage offer is in place until Jan 13.
I sold my existing home and completion date was last month. We are now renting the property. My partner has just confessed he has a debt problem and i am worried they will do a final credit check on us.
We will be homeless as we have to be out of the property by completion date.
Would bank do a credit check at last minute??

wssb wrote: »

Hello everyone,

I have had the happy news that my Mortgage application has been approved and subject to the Home Report refresh everything is looking good to go.

However, as I enjoy torturing myself I have been looking on the internet at some articles where lenders have withdrawn mortgage offers hours before completion, and this has left me very concerned.

My mortgage is with Halifax, and I have very recently moved house, only since last week and the original credit check was done on my previous address. My mortgage advisor is aware of this and has updated my details on file. What is worrying me is will this affect a credit check if Halifax re-check me before completion? Do Halifax re-score you before completion?

And as I live in Scotland, does anyone know what would happen if my mortgage offer was withdrawn and I couldn't complete. Would I have any financial liability to the seller?

I would appreciate any advice that anyone could give, either if you have professional knowledge of this or personal experience.

Thanks again from a very nervous FTB.

wssb

Hi anne1980,

Was the debt problem from before the mortgage offer was made, as if it was Santander are probably aware of the issue. I really don't know if they re-check you sorry.

kingstreet

A lender may routinely audit an application after offer any time up to completion. As long as there's been no material change in your financial position, this should merely be a formality.

New credit applications should not be made during this period, as a search is registered and adverse credit entries should be avoided, wherever possible.

wssb

Hi kingstreet, I have not applied for any credit at all just the change of address but what concerns me is I will not be on the electoral role here, would that cause any problems in your opinion? Thanks.

kingstreet

Do they know you've moved?

wssb

Hi kingstreet, yes we've told the mortgage advisor and had a change of address confirmation letter from Halifax. He hasn't said it is anything to worry about but this whole process feels worrying. Especially the more you look on the internet and see mortgages getting pulled at the last minute. Thanks.

wssb

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hcb42

stop reading posts on the web!

you will only read the problems, not the 10000s every month that go without a hitch

*touches wood, exchanging myself on Monday, selling not buying in my case*