worry wart post!! awaiting completion

frankiebowker

Hi,
So this is my forst post to this site so please bear with me if I dont include all the information needed. Me and my husband exchanged on our home on Monday and are due to complete this Friday. There are only 3 of us in the chain. My husband has taken the mortgage on himself as I have previous bad credit history. He sailed through application and got full mortgage offer a week after valiation was done. Our solicitors asked Halifax to confirm the funds would be available for Friday which they did confirm. I have since heard and read horror stories about mortgage offers being withdrawn after exchange but before completion. Is it true this can happen? And how likely is it? We havent told any lies on the application and nothing about his credit has changed since the offer was made, infact an argos store card has been paid off in full and the accoubt closed. I am sitting in my front room, 8 months pregnant packing but so stressed that this could still all fall through. We didnt apply through a broker but did it all ourselves over the phone. I am hoping someone can either put my mind at ease or give me some facts.
I have tried to call my solicitor today to ease my fears but their office is shut due to staff training.

Frankie

Goldiegirl

Put it this way.... I worked for the Halifax for 28 years, most of that time working with mortgages.


The amount of mortgage offers that I can remember being withdrawn between exchange and completion was ...... a big fat zero.


You are worrying over nothing. Relax and enjoy your new house and baby

frankiebowker

Thanks goldiegirl. I think I am just so stressed as we live in an owned 2 bed apt with a 3 year old so if it all fell through now I dont know how we could cope with 2 kiddies in such a small amount of space. And we applied before all these new mortgage rules came in so I just keep expecting a letter or phone call to say there has been some mistake you cant have it.
But thanks again

Kirstyb1987

I have to admit, in a very similar position to you and I haven't helped myself by reading every possibility that could go wrong.


I am terrified something will....Thank you Goldiegirl for the reassurance.


Congrats on the house and the baby.

frankiebowker

Thanks Kirsty hopefully everything goes ok for us both

Mortgagemeltdown

Hi there,

For what it is worth I made myself absolutely sick with worry every single day of my house purchase (from DIP to completion (nearly 6 months in total(!!!!), and the days after!!).

I read all the horror stories and was convinced it was going to happen to me....and believe me there were LOTS and LOTS of bumps in my road to completion. Everytime one thing was ironed out, another problem arose....even on the day of completion funds sent by CHAPS went 'missing'....it was hell. Even after confirmation of completion I still didn't believe it, until my first mortgage payment was debited!

I am happy to say though that I did complete and am a very very very happy home owner.

My mortgage is with the Halifax too and I have not a bad word to say about them.

Good luck and look forward to hearing on Friday that you've completed!

x

everything

You'll be fine!! I just want the offer!! lol. For you guys with Halifax, how long was it between the valuation and the mortgage offer?

ludds123

Omg I'm so glad it's not just me. I'm actually driving other half mad with my completely disproportionate and unrealistic worrying. I'm literally dreaming up completely ridiculous scenarious and every time the phone rings I'm literally having a panic attack that it's going to be a) TSB telling me the mortgage offer was a joke b) Estate Agent telling me the vendor has decided not to sell c) Solicitor telling me the searches have come back and the house is built on a mine lol lol... Other half really drew the line and lost his patience when he rang me the other day and my first words were "Please don't tell me you've decided not to buy a house with me'....

Anyway, lol, I think we should all take a massive chill pill.... definitely after exchange, I too used to work as a Halifax mortgage advisor and have never known it an offer be withdrawn after exchange....

Personally I'm waiting for exchange, hopefully any day (week?) now... and I like to think I'll relax a bit more then.. but I probably won't

Good luck to you OP

suziqqq

everything wrote: »

You'll be fine!! I just want the offer!! lol. For you guys with Halifax, how long was it between the valuation and the mortgage offer?

Valuation with halifax 23rd may offer received 28th May, so pretty quick although took 3 weeks to get survey.

everything

suziqqq wrote: »

Valuation with halifax 23rd may offer received 28th May, so pretty quick although took 3 weeks to get survey.

Ah so it can take a few days then, good. We had our valuation on Monday (14th) but haven't heard anything yet. Looking on creditexpert, Halifax haven't credit searched us again yet (after the initial soft searches).

Mortgagemeltdown

My valuation with the Halifax took place at around 10am and I had a full mortgage offer by 3.30pm the same day! So, from DIP, to valuation to offer was 6 days in total!!

If only the rest of the purchase was as quick!