Halifax Mortgage Process

Mrsrjo

Feb?! why so long?!

hopefully know more by the end of the week. I'm hoping it will only be 2-4 weeks!

ap1985

Ours is a new build so won't be built until February 2017.

Gunther_Golf

Hey folks


Exciting and stressful times for us all! Our Halifax application has been submitted via our broker and he has received a "Full Application Result: Accept" for our borrowing of £128,500. Document also says "we have instructed a valuation".


Unclear what the above means in real terms but sounds positive. Our supporting documents of payslips etc are on their way to Halifax currently via our broker.


Nervous excitement is the best way I can describe how I am feeling. Would the next step be for Halifax to consider the documentation that is about to be submitted with a view to a mortgage offer being made? (or application refused at this point).


**PS I'm in Scotland if that makes any difference - Does the lender use the Scottish Home Report as an acceptable valuation or do they still carry out their own valuation?**

kingstreet

Your broker uploads the required documents using Intralinks, then rings Halifax, does initial checks, the docs are signed-off and the case is then subject to receipt of valuation.

Once the valuation is accepted, the mortgage offer is issued.

I don't know how the HomeReport gets to Halifax. If the broker uploads it, it could be very, very quick. If it needs a refresh, or goes from surveyor to Halifax it will be like the usual valuation process so a few days may be needed.

Gunther_Golf

Cheers kingstreet

Can i ask you the following? If a "mortgage offer" is made is that absolute confirmation that Halifax are prepared to lend to us? Is there anything from this point on that could see the mortgage pulled (apart from the obvious such as loss of employment etc). Is there any firther documentation required to be submitted after this point or are Halifax satisfied they have everything they need from us?

Thanks

kingstreet

The mortgage offer is the second most important line in the sand and the only one after it is the Certificate of Title submitted by the solicitor requesting the funds on the agreed completion date.

Mrsrjo

Update, we're due to complete on the 21st Nov.

2.5 months from start to finish. Cannot wait till it's done and dusted.