Halifax mortgage "requote" after full offer??

oceanscape

I'm majorly stressing right now!

We are supposed to be completing this week. My solicitor said there has been a delay getting the funds from Halifax. He chased them yesterday and they said our case was "with the underwriter/business assessor" and "subject to a requote".

What does all this mean? Why on earth is it back with the underwriters??!!

We received the full offer 2 weeks ago. Will we be credit checked all over again? One of my credit card limits was increased since I applied and I did a 0% BT so it will look maxed out on my report - so worried that they will see this and take the mortgage offer away!

Funny_old_game

That is the silliest to do, messing around with credit while a mortgage is going through.

I would have thought you were given a full application/offer as long as there were no changes to your circumstances. If you weren't told its obvious anyway.

Their systems have picked something up and now its back to someone to reassess. Lenders aren't as stupid as people think, they must know far more than any of us will ever think.

No sympathy in thus one, if the offers pulled you'll never do it again.

Embryo error.

Kirstyb1987

Oh no! I've just received my mortgage offer and one of the main stipulations on this is that my financial status does not change at all.

I don't want to sound belittling but this is the number one rule when going through the mortgage process.

I hope it works out for you.

Funny_old_game

It'd obvious from the post above, changes to status impacts completion.

The poster will be peddling back now to reinstate their position at offer stage, and worse will have to prove it as its unlikely underwriters will take verbal confirmation.

Don't do it kirsty, little amounts may go under the radar but dont do what the 1st post did they will find out in due course.

Kirstyb1987

Sorry didn't make it clear I haven't done this. I was quoting what was on my offer.

Thankfully I don't have any credit cards or anything like that and don't plan on doing, especially when going through the mortgage process.

Thrugelmir

oceanscape wrote: »

Why on earth is it back with the underwriters??!!

One of my credit card limits was increased since I applied and I did a 0% BT so it will look maxed out on my report

Pre release of funds credit status check detected the change I would suggest.

Do you require the additional funds to complete the purchase?

ethank

Its not worth doing anything like this until you have completed. Most lenders complete a credit check before they release the funds.

FTB129

I had a credit check from my lenders between exchange and completion. My broker said 1 in 10 people will now have this 2nd check.

oceanscape

All went through fine and we completed yesterday.

Not without a lot of stress thanks to the scaremongering on this thread! Won't bother asking a simple question next time!

Kirstyb1987

You asked a question and you got an answer? It wasn't scaremongering!

Marvel1

oceanscape wrote: »

What does all this mean? Why on earth is it back with the underwriters??!!

We received the full offer 2 weeks ago. Will we be credit checked all over again? One of my credit card limits was increased since I applied and I did a 0% BT so it will look maxed out on my report - so worried that they will see this and take the mortgage offer away!

That is why.

oceanscape wrote: »

All went through fine and we completed yesterday.

Not without a lot of stress thanks to the scaremongering on this thread! Won't bother asking a simple question next time!

That's good news.

You asked and it was answered :huh: