halifax mortgage question

fragmast3r

In the process of applying for a halifax mortage with the help to buy scheme,

ive supplied broker all info requested, and AIP given, ive been told that halifax want £430 for the valuation, which the developer is paying me back on completion, which has been paid and they are doing the valuation thursday, if all goes well does that mean i will get my full offer? or if everything goes ok with valuation, can i still get mortage declined?

thanks
j

Goldiegirl

The valuation is just one part of the underwriting process.

They need to check that the property is suitable security for the mortgage, and they need to check to make sure you suit their lending criteria, so that they can be confident that you will meet your mortgage payments.

It's probably a good sign that the valuation has been instructed, as that implies you've passed their credit scoring system.

If they have everything they need to confirm your income etc you could get your offer after the valuation is done. If they are waiting for more information about you, then they would gather that info before they'd consider an offer

If they weren't happy with any of the information, for example, your payslips didn't confirm your declared income, they could still decline you, even if the valuation was fine.