Halifax Mortgage application on Hold

itshems

Hi All,

I been watching this forum for a while.
Have explained my situation below, appreciate your advice,
We had an AIP with Halifax last year for nearly 600K and we finally decided our property on 20th Feb for 450K.
My partner and me together earn 128K per annum and
My Partner has a personal loan outstanding of 13K
We are on Tier 1
15% deposit

we have applied for Mortgage on 24th Feb thru Mortgage advisor and I have been told that my application will be straight thru. We had our 3 months bank statement and payslips to the bank and our MA said that he doesn't require all that.
The valuation has been booked on the next day for 25th Feb and paid the valuation, we had a call on 27th to the EA that our valuation is cancelled because surveyors are busy and he said he will chase up with the bank and will get back to us. After 3 days, EA asked us to chase with Bank, then when I called Halifax, we have been told our application was on hold by UW for my partners Payslip and 3 months Bank statement.

We provided all the documents, it took 2 days to show up on the system and I have been told last week that turnaround is 72 hrs to hear back from UW. When I called them today, I have been told another 5 days.

I am getting bit concern about the Halifax process.
As well I am afraid of lossing the property as its in much demand.

Appreciate your Help on this.

Rollinghills

Have all searches and enquiries been completed by your solicitors ie is the mortgage holding things up? Our application is taking a lot of time because nationwide keeps asking for additional stuff but our searches are ongoing and vendors have questions to answer to keep them occupied so we are not getting any pressure yet.

itshems

I have all the searches done. As the property was in demand and I have been told that whoever brings in solicitor will get the chance. So we contacted no move no fee solicitor.
Though I can't think of any reason that we could be turned down. Its becoming a concern.
Is it normal for the process to take too long like this.

Thrugelmir

itshems wrote: »

Is it normal for the process to take too long like this.

Today is only 9 days since you submitted the application. Given the information requests not very long at all. You are far being the only people applying for a mortgage. So on occasions there will be bottlenecks.

itshems

Hi, Thanks for this.

I am worried because, the bank booked the valuation and then cancelled which makes seller to be doubtful.
Also we have paid the valuation fee.

Also when I explained my situation to Seller agent. He suggest us to go to the Mortgage broker from his agent who will assist us in making the application progress fast as he has contacts with Halifax.
Also he said he might charge a tiny fee amount.

Is it advisable to go thru the MB after applying thru the Bank directly?

Rollinghills

You managed to do all the searches, enquiries and legal paperwork done in 9 days? Sounds like you either have an amazing solicitor (who is it?) or someone that may be cutting corners somewhere
I would call halifax or even better a mortgage advisor and chase them to rebook the valuation

amnblog

What is more of a concern is that you are contacting the Bank direct rather than leaving it to your mortgage broker.


You should channel all enquiries through them.


Otherwise you can damage your application with an innocent comment on the phone to the Lender.

itshems

@ amnblog
I have applied directly thru the Bank and My MA was off sick for more than a week. So I have no clue with my application status until I called the customer care, when I came to that my application on Hold for my husbands latest payslip and statement.
@ Rollings
Because there were 3 people competing for that property, one with chain, other is a FTB like us and the other person on chain quoted 10K more than us and other FTB quoted 2K less than us. (Information came to know from estate agent after our offer is accepted)
Estate agent chosen 2 FTB, and mentioned whoever, solicitor contact first then their offer will be accepted.

So we contacted a No move mo fee solicitor on the same day and started searches on 20th Feb.

Update: My OH received a call from MA who is back and he has given an appointment for tomorrow 9.00 am.

amnblog

itshems wrote: »

I have applied directly thru the Bank

Now I understand why you don't know what is happening.

matt1234

itshems wrote: »

@ amnblog
I have applied directly thru the Bank and My MA was off sick for more than a week. So I have no clue with my application status until I called the customer care, when I came to that my application on Hold for my husbands latest payslip and statement.
@ Rollings
Because there were 3 people competing for that property, one with chain, other is a FTB like us and the other person on chain quoted 10K more than us and other FTB quoted 2K less than us. (Information came to know from estate agent after our offer is accepted)
Estate agent chosen 2 FTB, and mentioned whoever, solicitor contact first then their offer will be accepted.

So we contacted a No move mo fee solicitor on the same day and started searches on 20th Feb.

Update: My OH received a call from MA who is back and he has given an appointment for tomorrow 9.00 am.

I applied on 16/02 and my valuation was also booked in straight away but cancelled a couple of days later because CDT pulled in the application. Like you I applied directly and and like you my MA was away for a week. (Are you me?? :rotfl:)

Anyway, it took nearly 3 weeks of calls and six months of banks statements having to be submitted and my case being sent between different underwriters and on Monday they finally said they would lend subject to valuation. The survey has been rebooked as well so things looking better.

If your MA is constantly away and you keep getting out of office replies then you might want to ask to be assigned to a different MA - I imagine they are on training.

So you might need to wait a few more days and more documents might be requested but the valuation being cancelled isn't something to be too worried about.

itshems

Thanks Matt.

Congrats and I am bit relieved after hearing from you.
Hope I will get an update from MA tomorrow.
He is quite experienced (14 yrs) as MA, but he covers 3 to 4 branch who is quite busy.

its very unfortunate that my MA was off sick when my application was kept on Hold. So we haven't got any information.