Halifax product fee

Newbie321

Hi all,
Can anyone with experience please confirm the timings involved in taking mortgage fees?
I applied for a Halifax mortgage via a broker at the end of last week.
The valuation fee was taken from my bank the next working day. There was a hard credit search on the same day.
The product fee was taken a day later, with another hard search recorded.
The confusing thing is that the mortgage illustration said that the product fee is payable on completion. But we are nowhere near completion - I've only just today posted the solicitor's registration form.
(I have tried calling the broker but their phone is going straight to voicemail)

Mrsrjo

Isnt it a broker fee, rather than mortgage fee?

Newbie321

No, the broker fee is a separate, different amount.
The figure taken from my account is the same as the product fee stated in the illustration.

kingstreet

If you choose to pay it upfront, the product fee and valuation fees are normally taken at the same time, on application.

Perhaps the broker forgot the product fee at the outset, or chose to go back to the application the following day to pay it upfront once he know the application was successful.

It is refundable up to completion, if you don't proceed.

Newbie321

It is refundable up to completion, if you don't proceed.

I guess that's the main thing
I'm lucky that there was enough money in that account. I wasn't expecting to pay it yet, going by the mortgage illustration.
Anyway, hopefully we won't be waiting too long for a decision.
Thanks!

ap1985

Newbie321 wrote: »

I guess that's the main thing
I'm lucky that there was enough money in that account. I wasn't expecting to pay it yet, going by the mortgage illustration.
Anyway, hopefully we won't be waiting too long for a decision.
Thanks!

All the best Newbie. So far I have found Halifax great to deal with.