Awaiting Approval with Halifax

kellyb1485

Hi Guys feeling very nervous nowi had a DIP yesterday with Halifax and all my documents will be sent off today.what happens now? my broker has already taken payment details for the survey to be carried out £355 :-( what timescale will i be looking at?? i live in Cumbriaalso Halifax only asked for a couple of documents mainly Latest payslip and ID also proof of child benifit - they did not request any bank statements (i bank with Halifax but this is not my main current account which my wages are paid into)i am extremely nervous now and wondered if i have been accepted DIP what could go wrong now?

awolo1

house could be undervalued
the full credit check they undertake could reveal something at a previous address
but likely you will be OK and have nothing to worry about
DIP isn't 100% guarantee but a good indicator.

skimper

Were in the same boat Kelly. Our valuation is booked in for Tuesday.
I'll update you once we've had the valuation as to how long the next bit took.

kellyb1485

Thanks for the posts Skimper - how long did it take from you sending the documents off to getting a valuation booked?what documents did you need to send off?

MaebyJade

We found Halifax extremely quick and efficient. Received a response (they agreed the application subject to a satisfactory valuation) the same day the application was submitted and they arranged a valuation to be carried out 48 hours after. Once the valuation was carried out, the surveyor has 48 hours to submit the report. If all is ok then you will get an offer.

With regards credit checks they normally carry these out a day or two after you submit your application, don’t be surprised if 3 checks on consecutive days appear on you file as they sometimes do this. Your broker should have warned you about any potential sticking points on your file or with your circumstances which could result in a failed application. If your broker was confident you would get accepted then you probably will. I had to old default and my broker said it’s nothing to worry about, and he was right we got an offer.

If took just under two weeks for us from the day we submitted our app to getting an offer. However, it could take longer, our case was pretty straight forward; my partner and I both have been in the same job for 2 years+, no bonuses/overtime, no unusual spending, no debt etc. Reading no here, most of the hold ups seems to be related to the lender asking for evidence in cases where there is additional income (bonuses/overtime).

antsmusic1

Hi kellyb1485, firstly good luck :-)

We got a DIP from Halifax via a broker at the start of the month for £100,000. The broker was super helpful in getting at the info but warned us as my partner (still!) lives in his overdraft the actual mortgage offer may come back less. It came back on Friday last week as £55,000 :eek:

Nonetheless, we were prepared for this eventuality and put in more deposit (which we really should have done in the first place, it saves us about £30,000 in interest!!!!:j

Our financial credentials are ropey at best (between us we have a default, a zero hour contract, a salary of only £22,000 and the previously mentioned overdraft hogging) so we weren't feeling massively hopeful.

Our broker advised that Halifax are very good at looking at the 'bigger picture' which turned out to be correct; on paper we look unmortgageable, but we got verbal confirmation from our broker yesterday that the application has been accepted, subject to valuation (which is being done today).

Soo yea, it's super nerve racking, but they are very quick in their response, and if they don't wish to lend you the full amount, they will at least underoffer what you were originally looking for without rejecting your application and the whole process starting back at the beginning.

Good luck and keep us posted :-)

WCN87

Good Luck - Similar boat, advised by MA that full application was going to be processed yesterday/today - not heard anything back yet, dont know whether thats a good or bad thing.

I think she has been getting annoyed with my persistent email of did you include this / did you include that.

Suppose I need to be patient for once in my life.

skimper

I think we sent all documents off on the 19th, well gave them to the broker.
The range me 2 days later to book the valuation, some reason they had me as the buyer & seller, then took them 3 days to ring the correct person to get it booked in for a week later.
I'm hoping by this time next week we will have a written offer!

We had to send off 3 months bank statements, 3 months payslips, passports & driving license.

kellyb1485

Thanks for all advice guys, I wonder y I didn't need to send off 3 months statements and 3 months pay slips only latest 1? I was hoping to get phone call yesterday but guessing going toga e to wait until Monday but I'm so nervous!

skimper

Our valuation came back £5k less than what were buying for.
We either get them to agree to take a lower price or we find £5k from somewhere for the extra deposit Gutted.

kellyb1485

oh no who did your valuation? i have just had mine done now by Countrywide surveyors and looking at there reviews its not looking promising that they will value it at agreed price but fingers crossed i hope you can get this sorted skimper good luck