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Halifax Mortgage Process

ap1985
ap1985 Posts: 325 Forumite
in Mortgages & endowments
Hi all,


I am currently going through the Halifax mortgage process for a help to buy new property. This is where I am currently at present (very stressed!)


02/09 AIP from Halifax
06/09 Made offer and put an holding deposit down
06/09 Instructed Solicitors
07/09 made full application to Halifax
09/09 Case went for review to underwriters
13/09 Case approved subject to valuation


Should i be happy or can something still go wrong? Anyone else in the same boat as me??
:jFinally going to be a homeowner:T
«13456

Comments

  • kirtsypoos
    kirtsypoos Posts: 3,826 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Mine took 2 weeks from application to offer and it was so stressful as everyone else seemed to be getting their offers much quicker!

    I was told once they had instructed valuation it was a case of being happy as long as the valuation was ok :)
    Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭
  • ap1985
    ap1985 Posts: 325 Forumite
    kirtsypoos wrote: »
    Mine took 2 weeks from application to offer and it was so stressful as everyone else seemed to be getting their offers much quicker!

    I was told once they had instructed valuation it was a case of being happy as long as the valuation was ok :)


    Thank you Kirtsypoos that makes me feel better. :) I can't even sleep through this whole process, trying to keep my mind occupied so I don't think about it Lol.
    :jFinally going to be a homeowner:T
  • kirtsypoos
    kirtsypoos Posts: 3,826 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Good luck with it all - stressful but exciting!
    Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭
  • ap1985
    ap1985 Posts: 325 Forumite
    Thank you definitely going to need the luck :)
    :jFinally going to be a homeowner:T
  • ap1985
    ap1985 Posts: 325 Forumite
    Patiently waiting for the valuation date to come round (20/09)..the wait is unbearable....
    :jFinally going to be a homeowner:T
  • amnblog
    amnblog Posts: 12,781 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A bit baffled as to want you want to hear?

    The valuation need to be satisfactory. The case is approved subject to valuation.

    You have only been waiting a week so far, and need to wait another one.

    Is there something in the background that is worrying you?
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ap1985
    ap1985 Posts: 325 Forumite
    Yes my credit file isn't great.
    :jFinally going to be a homeowner:T
  • kirtsypoos
    kirtsypoos Posts: 3,826 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    I understand completely ap1985. When we applied, I had over £22000 worth of debt (down from £30000) on a salary of not much more... I spent two weeks beforehand and the two weeks post application convinced we were going to be declined based on my debt.

    It's easy to tell yourself not to worry, but I know it doesn't work! Fingers crossed for you :)
    Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭
  • ap1985
    ap1985 Posts: 325 Forumite
    Thank you Kirstypoos. You have really made me feel better in this process. :)

    Would anyone know how long a mortgage offer is usually valid for? our property completion date is February 2017.
    :jFinally going to be a homeowner:T
  • kirtsypoos
    kirtsypoos Posts: 3,826 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    No problem :) it's a stressful time when it's something new, especially when you have concerns about credit file/debt etc.

    I think ours was valid for 6 months, but don't quote me as we completed 6 weeks after offer so I can't say I paid too much attention!
    Let’s just pretend I have not been alternately drowning in debt or only eating toast to try and pay it off for the last 20 years 😭
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