Halifax Mortgage Process

Manichouse

Hi all,

Not sure if I should be worrying or not and believe me i'm trying my hardest not to but as all can empathise waiting on a mortgage is terrifying!!

Anyway I am somewhat concerned and not sure what to do. I applied in branch with Halifax on 5th November, went through all the application process I think! Took all my SA302's and other docs with me, as this is the third mortgage application since August. Reason for third is YB wouldn't look past my 1st year out of 3yr accounts Maternity Leave income, they processed and did a first mortgage application back in August then turned around and said they wouldn't lend what I required due to income. The second attempt was through my bank Natwest as my financial reviewer told me the only look at 2 years, great I thought! Passed everything but it never got submitted to underwriting as they would not accept my landlords equity gift as a part deposit.

So here I am third time around (not sure if lucky...yet!!)

Anyway valuation was instructed and completed on 11th November and I have still not had a mortgage offer. I spoke to the MA after valuation last week and she told me to instruct solicitors etc for searches and that she would be in training on Monday & Tuesday this week so will get mortgage offer sorted on Wednesday.

So it's now Friday and no mortgage offer! I spoke to her on the Wednesday about something else and she said well I need to get your file together and it be checked so mortgage offer will probably be next week now as shes in training again I think.

Unfortunately I have been googling too much I think and have worried myself to death. I have not been given a DIP certificate, I was given a KFI, I do not know what my credit score came out at. I have not been asked to provide any other proof aside from the SA302's, tax credits & child benefit.

I called the main mortgage number to see if I could get an update and the lady on the phone said "ohh I can't see many details on here, your product fee is still outstanding" Yes it is as I will pay once I have mortgage offer & completion date and then she said "I can see your valuation has been done but it's still pre-offer".

Am I being paranoid for nothing or is the in branch MA not doing her job properly??!!

I don't feel positive thanks to the other two applications dropping me at the last minute

Apologies for the moaning, it's times like these I wish I didn't have google!!

amnblog

Your post suggests your income has fluctuated and it is a little baffling that you are going direct to Lenders with this kind of complication.


If we know what is on the SA302s we might have more of an idea as to how this is likely to play out.

OneEngland

Manichouse wrote: »

Hi all,
So here I am third time around (not sure if lucky...yet!!)

3 x 3+ hours appointments, if only you knew a good mortgage broker.

Just because the val was instructed does not mean your mortgage will of been underwritten yet. I would be patient, as your case does not look like a straight forward one.

Manichouse

The original app with YB was through a mortgage broker who I could never get hold of and in the end YB MA rang and dealt with me direct!

I just happened to mention the mortgage issues to Natwest and they said no problems we can deal with you.

I thought my app was straight forward aside from my LL offering me the property at a greatly reduced price so I was looking to use some of that equity as a deposit. Natwest's MA said it would be fine but apparently criteria had changed earlier this year which she said she didn't know about as it's rare they get apps like mine in.

As for Halifax I went direct as one of my clients told me this MA was brilliant they can deal with it etc etc I spoke to her and explained the situation regarding equity gift and she confirmed they would take me as a sitting tenant as I have been here for 4 years.

I do not know of any other mortgage brokers which are good in Lincolnshire otherwise I would have gone through there but I had no reason to believe mine would not be straightforward.

Out of my last 3 years SA302's the 11/12 was my maternity year so income of only 9k 12/13 & 13/14 they averaged out to give me an income of 27.5k this next year my income is going to increase so I incorporated back in April. I have been runing my own business since 2008.

After reading all that back yes I can see I'm perhaps not as straightforward as someone who has worked for an employer for years and straightforward payroll.

Hindsight I suppose!

Manichouse

Just an update mortgage now approved never thought I'd be so pleased to have so much debt lol ☺

Jap_2

Well done!

oli_ro

Congratulations !

Manichouse

Thanks guys such a weight off my shoulders! I know it's not over until the monies have been paid across but it's nice to know I don't have to "prove" myself any further ☺

sdrio

I just posted thread about mine - took me 3 months to get mine done with the Halifax! A lot of it seems to be that they simply don't have enough people to cope.

Congratulations.

Manichouse

3 months!! I'd have been bald and nail less by then lol