How Long from Valuation To Mortgage Offer?

littlemissclaire1

Hi All,

Just looking for a bit of advice - we are new to the mortgage process since the new regulations last year.

Basically we are applying for a mortgage through Halifax, our appication went in 19/08 and the valuation took place 31/08, however we are still waiting for our Mortgage Offer?

Previously we have received this within a week, however, there was a delay as the valuation was £5k under the agreed sale price. The sellers agreed to drop the price in line with the valuation and we advised Halifax who have updated our mortgage application on 09/09.

Mortgage adviser has advised its been signed off by underwriters and we meet the credit score (only found this out as had to discuss perhaps LTV of 95% if sellers didnt drop price to valuation) & nothing outstanding from us.

So basically any ideas on how long from valuation to mortgage offer nowadays?

Thanks All :beer:

Thrugelmir

littlemissclaire1 wrote: »

the valuation took place 31/08,

Unlikely as that was Bank Holiday Monday.

littlemissclaire1

We were surprised too but we have the Home Buyers Report back and that confirms the date.

Thrugelmir

littlemissclaire1 wrote: »

We were surprised too but we have the Home Buyers Report back and that confirms the date.

Sounds odd.

born2shine

I mean it's really hard to say on a case by case basis, give them a call tomorrow first thing. Sometimes it could have been received but solicitors haven't updated you.

cns06

For us it was a week, although we had an email confirmation in 3 days but the offer letter took another 4.