Help-New Halifax mortgage- employer reference. UPDATE: now with Underwriters!!!

Paully232000

Simon_gloster wrote: »

Pretty sure if you ask the brokers on here to post the lending policy on temps as I've seen it here before.

2 yrs continuous or 12 mnts with a written guarantee 6 mnts remaining or something to the tune of that.

Thats one of the first things your advisor should have checked as its a smidgen out the ordinary.

That was about right for the mortgage that I just obtained. Had to have either 2 years of contracts or 12 months remaining on the current contract that I have.

Dave_Ham

Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Evidence of their employment track record may be required.

Experience suggests that Halifax can be tolerant of agency workers, although it will be manually assessed and hence the additional requests.

All payroll need to do is state Mr x has been an agency worker registered since x date. His income for 2013 was y and 2012 z and does/does not pay own tax/accrue holiday etc.

If the other case variables are good, this will not be a deal breaker. Any uncertainty, significant breaks of employment etc. and may not be so clear cut.

Good luck

Sally2013_2

Dave_Ham wrote: »

Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Evidence of their employment track record may be required.

Experience suggests that Halifax can be tolerant of agency workers, although it will be manually assessed and hence the additional requests.

All payroll need to do is state Mr x has been an agency worker registered since x date. His income for 2013 was y and 2012 z and does/does not pay own tax/accrue holiday etc.

If the other case variables are good, this will not be a deal breaker. Any uncertainty, significant breaks of employment etc. and may not be so clear cut.

Good luck

Thanks fot replying. Going by this we should be ok.

Thanks all got replying. I will be calling the MA back on Monday so hopefully it's good news. Will let you all know.

Sally2013_2

Dave_Ham wrote: »

Applications will be considered from the above employment types if the customer has a current continuous employment of 12 months or more with 6 months of the contract remaining or the customer has 2 years continuous service in the same type of employment.
Evidence of their employment track record may be required.

Experience suggests that Halifax can be tolerant of agency workers, although it will be manually assessed and hence the additional requests.

All payroll need to do is state Mr x has been an agency worker registered since x date. His income for 2013 was y and 2012 z and does/does not pay own tax/accrue holiday etc.

If the other case variables are good, this will not be a deal breaker. Any uncertainty, significant breaks of employment etc. and may not be so clear cut.

Good luck

My application has gone to Halifax underwriters, they want 6 weeks latest payslips.

What are out chances now?

Shall I go to other banks or brokers, I'm worried I will loose my dream house and also how long do underwriters usually take?

Sally2013_2

Can anyone offer any advice what happens when underwriters get involved?

kingstreet

They make the decision to accept or decline.

Simon_gloster

As opposed to having an AIP you now have one subject to it being fully assessed, inside and out. If the income don't stack up it, they may restrict lending. They will look at hours worked etc. As I mentioned not a straight forward case and needed careful planning before placing.

2-5 day turnaround, depends how busy they are. Brokers will know the timescales. Halifax usually are busy apparently. Expect early next week as long as the payslips are in.

Sally2013_2

OK I believe my application was submitted on Friday to the underwriters, anyone know if this is by post or mail?
they gave a 48 hour timeframe, should I call them directly on Monday and see progress? or wait for Tuesday like MA said? the wait is killing me.

Thrugelmir

Sally2013 wrote: »

Can anyone offer any advice what happens when underwriters get involved?

Underwriters always get involved. As it is they they that have the authority to issue mortgage offers on behalf of the lender.

Thrugelmir

Sally2013 wrote: »

OK I believe my application was submitted on Friday to the underwriters, anyone know if this is by post or mail?
they gave a 48 hour timeframe, should I call them directly on Monday and see progress? or wait for Tuesday like MA said? the wait is killing me.

Ringing won't make the slightest difference. If the file was passed across on Friday then unlikely it will be looked at until this week.