Underwriting Process - Halifax

WCN87

Hi,

Our mortgage application got referred to an underwriter who has since requested the following information over two days:

1) a letter explaining previous glitches and reason for notice of correction being added. (2 days ago)

2) proof that wife is going back to work full-time after maternity and whether we would incur any childcare costs. (Yesterday)

Could they be asking any further questions? Would they not ask for all the information in one go, bit skeptical on our credit score and the fact I live within my £500 overdraft because iI transfer most of my salary across to our joint account when paid, and just use the overdraft as a credit card facility.

Regards

Goldiegirl

WCN87 wrote: »

Hi,


Could they be asking any further questions?

They might do - it just depends.


Another underwriter may look at your application and want something clarified that the first underwriter didn't think of.
Or the answers to their current questions might trigger other questions

amnblog

Onion underwriting.


Until each layer is exposed they don't know what they don't know.

WCN87

Advisor confirmed it hasn't been re-assessed today, so she will try again tomorrow.

Another anxious wait it seems

amnblog

It is only anxious if you make it so.

WCN87

amnblog wrote: »

It is only anxious if you make it so.

I wish it was a choice thing, unfortunately this is what excitement of owning your first house does to you (well, me)

WCN87

Do underwriters work on Saturdays?

Contemptuous

WCN87 wrote: »

Do underwriters work on Saturdays?

Generally no.

Goldiegirl

If it's a busy period, the Halifax underwriters may do some overtime on a Saturday morning. But Saturday is not part of their normal working pattern

WCN87

Goldiegirl wrote: »

If it's a busy period, the Halifax underwriters may do some overtime on a Saturday morning. But Saturday is not part of their normal working pattern

Thank you

The Halifax team initially asked for a letter explaining our previous glitches, defaults and reason for a NOC. 24 hours later they asked for what hours my wife will be doing when she goes back to work and also if we would incur childcare costs, it hasn't then been reviewed for 48 hours.


Does anyone have an idea what the likely outcome is? They haven't instructed valuation yet, but we told them my wife is going back full time and there won't be any childcare costs because we have a retired grandparent and wife does shifts which works out well.

I would hope we would of had a reject by now if that was the case? But I haven't seen a hard search appear on my credit report yet either?

MsMouse85

I am awaiting my halifax final offer. My application went to the underwriters 28.7.2016 due to a NOC which had been removed but was still showing. Anyway they seem satisfied with that. What are the next steps they complete as I have no valuation required?

Will they be looking at the Scotland home report checking the valuation and seeing if they are happy to loan that amount and produce an offer?

WCN87 how long did yours take in the end?