FTB Mortgage application with Halifax

Sumi079

Hi,

Thank you for replying in advance.

Me and my partner submitted a full application 15th May through a broker. We gave my partner 3 payslip, proof of address, proof deposit and passport. Couple hours later she rings me to say she spoke to the senior under writer and they said their happy with the application and there waiting for valuation and it will be booked next 24hrs. Then on Monday she says the credit assessor want p60 and bank statements showing salary is paid in. So I submit them straight away. Now on Wednesday estate agent ring to say valuation was booked and then cancelled. I ring the broker and the response I get is they are going to book it with another firm! Is this true or are they fobbing me off? Is this common with Halifax or should I be worried? what stage am I at?
Thanks

kingstreet

None of what you have said reflects my experience of dealing with Halifax in the last twenty years.

If the valuation has been booked and cancelled, that's usually an indication it has been passed to Credit Decisioning for approval.

Sumi079

Hi Kingstreet,

Thank you for your reply.

What does this excalty mean? Is it likely to be declined?

Thanks

kingstreet

No way I can answer that.

The usual Halifax process;-

DIP obtained
Full application built on DIP and valuation fee paid at submission
Valuer instructed
Documents faxed/emailed to Halifax
Valuation done
Mortgage offer issued.

If something is picked up during submission, the case can be passed to a business assessor or credit decisioning (CDT). These are human interractions in a mostly automated system.

If the case is passed to CDT, a booked valuation is cancelled to prevent the fee being spent while the outcome of the application is unknown. Once the CDT decision has been made, the valuation can be rebooked.

Only someone who knows the circumstances of the case can say the likely outcome of a CDT referral.

Dave_Ham

Just to add, with the Halifax excellence process now (essentially they are trying to underwrite/process in an enhanced way) they will potentially cancel the valuation if the case has not been agreed yet.

Traditionally only the CDT route Kingstreet mentions triggers this, but now if they have not had the documents in time for valuation; they may cancel.

As stated, only your broker is really going to be able to get to the bottom of this but they should know quickly.

Good luck