Halifax FTB Mortgage - Stamp duty included - Slow processing

SpeedySnail

Hi,

I am currently waiting on Halifax to get back to me on my first time buyers mortgage application. I am buying a house for £225k and have a £50k deposit. I did a full application on the 25th May and was fast tracked first, and then was asked for a whole load of other documents a few days later during the bank holiday. The survey was instructed and the money was taken straight away on the same day of the application.

I have been in contact with the bank a few days ago but they informed me that everything is still with the underwriters. Having had a look on my Experian account, I have an almost perfect credit rating. Halifax have performed two 'unrecorded credit enquiries'. Does this mean that they haven't done the official credit check yet or are they sometimes not performed?

It has been 3 weeks now since I applied. Is it normal for things to take this long or is it a sign that things are going wrong?

The length of time that everything is taking it starting to worry me. Any advice you can provide would be gratefully received.

kingstreet

Has the valuation been done yet?

okborednow

I've applied to Halifax through a broker on 31/05 and we received our mortgage offer this morning so not always. We did submit lots of documents upfront though so i don't know if that makes a difference.

kingstreet

In the OP's case, it sounds like the case was pulled for routine audit, which can always happen on a fast-track case. In which case, instead of submitting supporting documentation at the outset it's done later in the process and normally more is requested than usual.

SpeedySnail

kingstreet wrote: »

Has the valuation been done yet?

Thanks for the interest. From talking to the estate agent they said the survey was due on the 6th June, but I haven't had any results from it yet and know one has confirmed whether it has taken place. Do they usually send you the results or do they keep them to themselves?

SpeedySnail

Thanks, again.

kingstreet wrote: »

In the OP's case, it sounds like the case was pulled for routine audit, which can always happen on a fast-track case.

If you are pulled from a fast-track case does this usually affect your chances of by accepted from the mortgage? I submitted the all the documents they requested on the 3rd, but I still think they are taking their time with everything and since then no other documents have been requested.

SpeedySnail

Thanks for the information okborednow. Congratulations on getting the mortgage. I wish we could recieve good news soon.

kingstreet

A routine audit checks the data supplied in the application with the documentation later submitted to support it. If there is no variance, the case is usually offered within two or three days.

Is it possible an employer's or landlord's reference has been requested?

Sometimes, the case also "locks" for some reason when everything has been done and it's only the entrance of a staff member of broker in the system which triggers the issue of the offer when the "next steps" screen is visited. It may be something as simple as this, but many people don't know about it.

TBH I faxed proof of deposit on a case on Monday and knowing how busy Halifax is, I left it until Thursday to follow it up. When I got through after being on hold for 30 mins, they told me the fax was never received, so I had to send it again. I'm still waiting for the case to be offered. Sometimes, things go wrong and take time for a variety of reasons.

You'll get a copy of the valuation when the case is offered.

SpeedySnail

Thank you for the detailed explanation kingstreet.

It seems like the only option is to keep pestering Halifax to make sure things remain in motion.

I will make sure I post any good news I get when it comes.

okborednow

SpeedySnail wrote: »

Thanks for the information okborednow. Congratulations on getting the mortgage. I wish we could recieve good news soon.

I know how you feel, i was so massively stressed while i was waiting just CONVINCED something was going to go wrong. I'm sure based on what the ever knowledgable kingstreet has said that you'll get your happy news soon