Halifax fast track mortgages... is this normal?

kingstreet

Conrad wrote: »

Such brokers are sooo dumb. All it takes is a disgruntled girl friend or a jealous mate of a fast tracked mortgage applicant to make a whistle blow call to the FSA / lender, game over.

I find it disquieting that someone should have so little regard for their career. After 28 years, I wouldn't fancy having to find something else to do with my time. :eek:

DiscoCat54

Mine is also a newbuild hence the delay between exchange and completion. The underwriters were very thorough and queried various items on my payslip including petrol allowance although as these are an expense I didn't include them in my income.

nathan75

DiscoCat54 wrote: »

Mine is also a newbuild hence the delay between exchange and completion. The underwriters were very thorough and queried various items on my payslip including petrol allowance although as these are an expense I didn't include them in my income.

I'm sure you'll be alright mate. Could they leave the audit till 2 wks before completion?

MiniSis

My mortgage in May was fast tracked through Halifax. Was surprised considering Santander had been awful with my first application that I didn't proceed with. My broker had all verification if needed but the offer was through In 8 days from application. I had a 10 day exchange and completion though.

nathan75

Does anyone know... If I get audited will I need most recent 3 payslips?
Or the three leading up to application & my p60.
I'm about to send last 3 off to my MA, but say they audit in feb will I again be running about to gather info as these slips will be out of date?

GMS

Keep all of your payslips safely from the most recent 3 months prior to application onwards.

You do not need to worry about being audited if you can confirm the information given on the application form.

It is your adviser's duty to request the items from you. Do not worry about it. If they are requested then your adviser will ask you for what is needed.

The only concerns with audits are when fast track has been abused, i.e income inflated etc.

As I said previously I always have the information on file as this saves me going back to the clients. To me the job of a broker is to make life easier for the applicatnt. One way of doing this is to get as much information and documentation on day one.

If you are still concerned then speak to your adviser. They must be happy with what they have done so far.

nathan75

GMS wrote: »

Keep all of your payslips safely from the most recent 3 months prior to application onwards.

You do not need to worry about being audited if you can confirm the information given on the application form.

It is your adviser's duty to request the items from you. Do not worry about it. If they are requested then your adviser will ask you for what is needed.

The only concerns with audits are when fast track has been abused, i.e income inflated etc.

As I said previously I always have the information on file as this saves me going back to the clients. To me the job of a broker is to make life easier for the applicatnt. One way of doing this is to get as much information and documentation on day one.

If you are still concerned then speak to your adviser. They must be happy with what they have done so far.

Thanks GMS,
my only concern here is i am away for a 3 week holiday from mid jan to early feb, so wont be able to access payslips while I am away,guess they will just have to wait for me to get home!
thanks for all your advice!

andyuk101_2

I was in the same position with Halifax

No proof of earnings, P60, employee references etc etc - just a single credit search, survey 4 days later, offer 4 days after that

Even went back to amend the address on the property without question

I completed back in Sept and apart from the mortgage not showing up in online banking have had no issues

nathan75

andyuk101 wrote: »

I was in the same position with Halifax

No proof of earnings, P60, employee references etc etc - just a single credit search, survey 4 days later, offer 4 days after that

Even went back to amend the address on the property without question

I completed back in Sept and apart from the mortgage not showing up in online banking have had no issues

Sounds like plain sailing for you andy!!
were you buying new build or 2nd hand? was there long between exchange and completion? thanks