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Halifax mortgage process

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Can someone in the know please give some info.
We are applying to Halifax for a mortgage, and the valuation was done yesterday.
Can we assume that we passed the initial credit scoring because they arranged the valuation? Or do they do the valuation regardless?
We've had a few credit searches done by Halifax since applying. 3 in total, most recently the day before the valuation.
Impatiently waiting.....
Thanks :)

Comments

  • ap1985
    ap1985 Posts: 325 Forumite
    Hi MPearson, I recently got my offer from Halifax in the post. Halifax only instruct valuation once the case has been approved. Did you get a approved subject to valuation from them beforehand?
    :jFinally going to be a homeowner:T
  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You can assume there are no hitches so far and none with scoring, but they do the valuation before they finalise everything else - it's not over UTFLS
    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.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ap1985 wrote: »
    Hi MPearson, I recently got my offer from Halifax in the post. Halifax only instruct valuation once the case has been approved. Did you get a approved subject to valuation from them beforehand?
    That's only the case where the application goes for Business Assessor or CDT referral at the outset.

    Most cases, the valuation is instructed immediately the application is submitted.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Valuation came back as acceptable. We've had a couple more hard credit searches (now 5 in total!)
    It's with the underwriters and we're told we will get a decision in the next couple of days.
    Slight thread drift, but if applying for finance in the future will all of these credit searches be grouped into 1, or would they be treated as 5 separate applications for credit? A new car is next on the agenda, once the home is (hopefully) sorted.
  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Don't be concerned about credit scores - this won't harm you for your car.
    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.
  • We're in exactly the same boat as you with Halifax, glad to hear it won't affect getting a new car as we've been driving a tin can for months now whilst sorting out the mortgage! Fingers crossed you hear a positive answer this week.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You should make no new applications for credit until after your purchase and mortgage are completed.

    Do not view the mortgage offer as the point you can start having new credit searches.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Yeah, I should've been a bit clearer there, no new car until the house keys are in our hands.
  • rex28
    rex28 Posts: 11 Forumite
    We're in the same boat. Also won't apply for any credit until we complete on the house.
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