Are we as safe as this email implies?

Dave_Ham

If they failed you at AIP, the valuation was not done and so should be refunded. If it was done and everything is above board then you can potentially use the valuation, although I can see why the adviser may not want to go down this route.

I assume your broker did not offer a refund policy, cannot believe brokers get away with application fees that are not refundable if mortgage is not offered.

Off now - interested in what you decide and how you get on....

lauraanddavid17

Thanks Dave.

I will update with an outcome!

Goldiegirl

When I worked for the Halifax, the Halifax system rated an applicants credit score as pass A, B or C.

The higher the credit score pass the less under writing information is required.

Maybe this time, the application has been keyed in such a way to generate a high credit score pass, and the only thing the system wants before an offer is made is a valuation. If an acceptable valuation is keyed, the application would auto-offer.

This is just speculation on my part, and bear in mind I left the Halifax three years ago, so systems could well have changed.

lauraanddavid17

Thanks for replying Goldiegirl, I've only just seen your response.

I kind of suspected this too.

The valuation went ahead today. I really hope we get through ok, this is really stressing me out now :S

Do you know how long it might be until we have an outcome/before we are safe!? Hoping it's by Xmas.

Dave_Ham

If you have not heard by tuesday, this will be a bad sign. Valuation should hit system friday and if as the colleague suggested this is straightforward will be offered immediately or reviewed and offered within 48 hours.

Do still go after the other fees you have paid to other broker as not on...

All the best - do let us know outcome...

Simon_gloster

Its ok having 6 months contracts left, you need a min 12 months contracts behind you. Thats why an underwriter declined as you didnt fit policy.

Seems it has been keyed incorrectly and may get picked up when processed. Pretty sure your deemed self employed by halifax unless the company pays your tax and ni and they are your only main contractor.

lauraanddavid17

Thanks for your replies.

We have now received an email to say no issues with valuation and next step is to take passport and staff number into a Halifax branch.

Are we far off getting an actual mortgage offer?

He's only ever contracted for this company as he's been perm 8 years with a large company (Sony). So I guess he's not really self employed. He's a contractor because it's a new business. He should get made perm later in the year.

I keep getting my hopes up, but the feedback on here makes me think maybe I shouldn't be as excited as I am .

newyear2011

If his a sub contractor to one company only he will b treated as an employee for the basis of the mort app with Halifax. Confusing I know but that's the policy as long as previous experience in industry.

robatwork

lauraanddavid17 wrote: »

The guy has also email me the following to explain...

Hi David,

I have been a Mortgage Advisor for 3 years and have keyed over 20 application's alone for IT Contractors where I had many concerns
***

I would be concerned that he can't pluralise application without an apostrophe. But that's just me. Maybe he was a greengrocer in a past life.....