Halifax Mortgage Applications - Process

maddyh11

Hi All


Im new here and wondered if anyone had any experience applying for a First Time Buyer mortgage with Halifax (we are based in Scotland, I am aware rules are different)
We got our DIP and found a house, put in a bid and the bid was accepted!!! Our advisor put in the full application yesterday and Halifax came back straight away asking for 12 months payslips from my Husband (to confirm his work bonuses) and a reason for a dispute on my credit file (which was easy to explain) I contacted our advisor late afternoon to see where we were with it who advised..........

"I am on the phone with them know and they are reviewing the payslips and all is okay with them.
They have requested a copy of the mortgage valuation and when this is back it should then go to mortgage offer"

My question is do they do all the finance stuff and credit checks before the request a mortgage valuation...... So as long as the Mortgage Valuation adds up and they are happy with it we should be go to go or is the overall checks etc still to come

This is our first time buying and its so stressful, Im not the most patient person and hate sitting waiting not knowing so any guidance or advise would be more than appreciated

nkkingston

We're FTB with Halifax, but in england. They did all the paperwork first, before sending someone out to value the house. I don't know if that's their standard way round of doing it, or if it just so happens that the paperwork bods are quicker than the valuation bods. We've got our offer, and we've started on the searches now. My understanding is that if the searches come back with something major that the valuation missed (e.g. if our house turned out to be sitting on top of a mineshaft) the offer could be retracted, because it means the house isn't worth what they thought it was, but minor issues you'll be left to negotiate over yourself.