Halifax Mortgage - Response time?

kilby_007

carrot_cake wrote: »

Congrats :T

Hope you don't mind me asking a quick question on your thread.... What is a "hard" or "soft" search?

TIA

I'm not certain but a soft search seems to be when the lender does a basic credit check on your file. A hard search I think is when they record the credit check and put a stamp on your file that you've requested to lend money, so included with this stamp will be information on how much money you're borrowing, over what term, and with which lender.

I've recently had about 7 "soft" searches from various lenders, and 3 "hard" searches (two for my mortgage, and one for a mobile phone contract). These "hard" searches will affect your eligibility to lend money in the near future (i.e. some companies will see it as a negative that you're recently applying for a lot of credit). I had problems with a credit check last week with my mobile contract and they had to manually investigate my file as their computer system's credit check had not automatically passed me. I can only put this down to the fact I've had these two hard searches on my file recently.

Jahoooly

Congratulations! Keep your fingers crossed for me too my valuation was today - out of interest how long did it take for valuation to get back to Halifax? X

kilby_007

Jahoooly wrote: »

Congratulations! Keep your fingers crossed for me too my valuation was today - out of interest how long did it take for valuation to get back to Halifax? X

Thanks!! And I am keeping fingers crossed for you too!

We had to sign some documents and return them to the surveyor before we got our valuation & survey report through on email but Halifax received it straight away (on the same day as the valuation). The surveyors use a generic layout and generic terms so although the report looks complex it's really based on a series of check boxes that the surveyor submits to the computer program that makes the report plus a few additional comments.

zak74

We submitted an application today to the Halifax. Fingers crossed for a quick decision

Jahoooly

They came back this morning to request product fee... Said that was only thing outstanding so assuming valuation was ok. Can they still change their minds even though I've just paid a 2k product fee?

kilby_007

Jahoooly wrote: »

They came back this morning to request product fee... Said that was only thing outstanding so assuming valuation was ok. Can they still change their minds even though I've just paid a 2k product fee?

Eh? I'm confused! With me they have added the product fee to my mortgage and I wouldn't have thought they could charge you a fee upfront - not until contracts have been exchanged between you and the seller.

Jahoooly

Yeah they charged it before they offered mortgage - anyway, just got home from work... Mortgage offer on the doormat! So happy just ran around the house screaming

spectrum.s

We applied for home loan through a mortgage Advisor on 20th November 2014 95 % LTV, submitted some pending documents a week later. They asked for the statement showing 5 % deposit. We saw several credit searches on our credit report. No survey has been booked till Today I called my MA and called and found out that because we have not paid the product fee of £1000, the survey has not been done yet. She could have told me before. We have already paid £500 as mortgage advise fee. £499 as valuation fee, £390 to solicitors opening the file. And paid product fee of £1000 today. This is out first time and I am really worried and confused that we doing the write thing. It is already been 1 month now. Hope everything is fine. The MA assured me that everything is okay they will not ask for anymore document and they will book a survey date now. We have also paid £5000 to the broker to book the property. He said he needs this money to book the property and to keep it off the market. I am really tensed if anything goes wrong I will loose close to £7390. I and my husband earn and a good salary but we are contractors and we didnot have enough deposit. please advise