Halifax mortgage applications thread!

at1991

Just had an offer through from Halifax!

(Private sale so didn't need the whole waiting for offer to be accepted etc.)

13/11 - First contact with Broker
14/11 - DIP from Nationwide passed at 80%

Found out it was more suitable to go through Halifax Concessionary Mortgage scheme...

18/11 - DIP Approved
27/11 - Full application Submitted
04/12 - Valuation carried out
05/12 - Broker text stating offer had came through from Halifax
06/12 - Received Valuation Report
08/12 - Offer came through post

Just now about to start the legal side of it.

lozahill89

HI guys,
I have a decision in principle through Halifax. However, I am worried that when I go on to full application, they will check back through my whole banking history with them as I currently bank with them. The issue is that I have betting transactions on there in May and April. Since then I have been transferring money to paypal to bet as I was told this was safer. First question is, will they look through all months bank statements as I bank with them, and therefore decline my mortgage? Second question is will the paypal transactions be queried as there are quite a few? My partner and I have a 15% deposit some of which is gifted, and both have excellent credit scores. Would I be better going through a different lender who may only ask for a couple of statements? Any help would be appreciated I am so worried.

kingstreet

I don't think you will have a problem.

Bazza99

I have a mortgage offer from Halifax. Being a naive ftb I have topped up an existing loan I had and paid off my cc and car loan with it as it worked out better as well as giving me a bit extra for furniture. Now I realised this was really stupid. I am ready to exchange but scared of horror stories regarding re credit scores coz I don't want to lose my deposit. I have told Halifax of the info and they checked and even changed the term for me but I am worried that as I did this straight away my new credit situation would not show on my file yet but when they do a check at completion it may be lower and scupper my sale. Any advice as I can't sleep with worry.

caerleongirl

Hello,

Just wanted to share our story. We are first time buyers trying to buy a new build property with the help to buy scheme.

Initially, we applied for a Nationwide mortgage which was accepted. We arranged to sign all the documentation off with our solicitor before going to France for the summer so that the exchange of contracts could happen whilst we were away.

However, one day before the exchange, our solicitor noticed that Nationwide had made a mistake. They had not realised that the surveyor had valued the house at £34,000 less than the asking price. Therefore, it made our mortgage offer invalid and it was immediately withdrawn. No one had been sent a copy of the valuation report until our solicitor requested one in order to do the exchange. Being first time buyers, we had no idea we were even entitled to get a copy so were completely oblivious.

Our financial advisor has said that Nationwide's surveyor was being far too cautious and he has found out that other lenders have valued similar properties in the same development at the asking price... including Halifax, which is where we're applying for now.

As we're in France, it's not been easy because we've had to arrange for more recent statements and payslips to be sent over.

We heard from the developers that the valuation is taking place today so we have our fingers tightly crossed.

juliat20

caerleongirl wrote: »

Hello,

Just wanted to share our story. We are first time buyers trying to buy a new build property with the help to buy scheme.

Initially, we applied for a Nationwide mortgage which was accepted. We arranged to sign all the documentation off with our solicitor before going to France for the summer so that the exchange of contracts could happen whilst we were away.

However, one day before the exchange, our solicitor noticed that Nationwide had made a mistake. They had not realised that the surveyor had valued the house at £34,000 less than the asking price. Therefore, it made our mortgage offer invalid and it was immediately withdrawn. No one had been sent a copy of the valuation report until our solicitor requested one in order to do the exchange. Being first time buyers, we had no idea we were even entitled to get a copy so were completely oblivious.

Our financial advisor has said that Nationwide's surveyor was being far too cautious and he has found out that other lenders have valued similar properties in the same development at the asking price... including Halifax, which is where we're applying for now.

As we're in France, it's not been easy because we've had to arrange for more recent statements and payslips to be sent over.

We heard from the developers that the valuation is taking place today so we have our fingers tightly crossed.

Any updates from this caerleongirl?

caerleongirl

Hello, yes!! I am really pleased to say that after an agonising wait, today our financial advisor forwarded an electronic copy of our mortgage offer!! I cannot tell you how relieved we are. The whole nightmare has completely ruined our holiday and has been the most stressful few weeks of our lives.

For those of you who want a timeline of the Halifax mortgage process (via personal financial advisor) for our new build property, with the Help to Buy 20% equity scheme:

Tue 11th Aug '15: Offer in principal applied for and accepted.

Wed 12th Aug '15: Full application and documentation sent off (cannot be sure exactly what they asked for as we had already provided many documentation for previous mortgage application).

Mon 17th Aug '15: 'Help to Buy' informed of changes. Developers phoned with update on the building progress, and confirmed that a valuation had been booked for that Wednesday.

Wed 19th Aug '15: Valuation took place.

Thurs 20th Aug '15: 'Help to Buy' issued their amended offer via email.

Tue 25th Aug '15: Halifax's Mortgage offer sent electronically to solicitor and financial advisor. Financial advisor forwarded it to us (hard copy has been sent in the post but we are still in France). Valuation report requested.

If I were to offer.any advise, it would be to make sure you get a copy of the valuation report before you do anything!!! Apparently, what happened to us is quite rare, but it could happen to anyone. If we would've exchanged before this error was noticed, we would've been in an absolutely dire financial situation.

Incidentally, we are fully intending on making a formal complaint and will try to get our money back from the previous lender (why pay for a valuation when it clearly wasn't even looked at properly?!).

TB1987

caerleongirl wrote: »

Hello, yes!! I am really pleased to say that after an agonising wait, today our financial advisor forwarded an electronic copy of our mortgage offer!! I cannot tell you how relieved we are. The whole nightmare has completely ruined our holiday and has been the most stressful few weeks of our lives.

For those of you who want a timeline of the Halifax mortgage process (via personal financial advisor) for our new build property, with the Help to Buy 20% equity scheme:

Tue 11th Aug '15: Offer in principal applied for and accepted.

Wed 12th Aug '15: Full application and documentation sent off (cannot be sure exactly what they asked for as we had already provided many documentation for previous mortgage application).

Mon 17th Aug '15: 'Help to Buy' informed of changes. Developers phoned with update on the building progress, and confirmed that a valuation had been booked for that Wednesday.

Wed 19th Aug '15: Valuation took place.

Thurs 20th Aug '15: 'Help to Buy' issued their amended offer via email.

Tue 25th Aug '15: Halifax's Mortgage offer sent electronically to solicitor and financial advisor. Financial advisor forwarded it to us (hard copy has been sent in the post but we are still in France). Valuation report requested.

If I were to offer.any advise, it would be to make sure you get a copy of the valuation report before you do anything!!! Apparently, what happened to us is quite rare, but it could happen to anyone. If we would've exchanged before this error was noticed, we would've been in an absolutely dire financial situation.

Incidentally, we are fully intending on making a formal complaint and will try to get our money back from the previous lender (why pay for a valuation when it clearly wasn't even looked at properly?!).

Congratulations! Glad it all worked out well in the end for you

TB1987

Did anyone here receive a valuation received text when their valuation had been done?

Ours was on Monday morning at 9 and we haven't heard anything so just wondering if the valuator hasn't even submitted the report yet?

juliat20

I'm not even sure my valuation has been booked in yet, application went in on saturday and money was taken but we've not had any contact back to say a valuation has been booked.

Do Halifax text with updates then?:)