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Halifax mortgage application.
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Thanks for your reply. The thing that I'm worrying about is the fact that we've had our valuation instructed, but unlike most people on here, we haven't got our acceptance subject to valuation.
I'm not feeling confident in the slightest.0 -
SteveA12345 wrote: »Thanks for your reply. The thing that I'm worrying about is the fact that we've had our valuation instructed, but unlike most people on here, we haven't got our acceptance subject to valuation
A normal case is submitted, the valuation instructed, a payslip or two uploaded, the case signed off and the offer issued as soon as the valuation comes back.
You are expecting a far more structured process than actually exists. Speak to your broker and let them allay your concerns.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.0 -
I understand that mine is a different case to most others.
But I was asked to give more wage slips last week, and a bank statement. Halifax also contacted our accountant at work.
The valuation was instructed a few days after that, so I'm guessing we've passed the affordability part of the process,
We've also had our credit searches done.
So could it be final checks maybe that we're waiting for?
My broker mentioned that briefly last time we spoke. What do the final checks consist of?0 -
Final checks can't take place until the valuation report is done and back. Often they aren't necessary.
This mythical "agreed subject to valuation" message isn't to you, isn't a text message or email not to anyone, not even your broker. Once your broker has supplied all the required documents and the valuation is instructed but only if it wasn't at submission, then your application is agreed subject to valuation.
As I've already said,
"Assuming no automatic referral* to business assessor or credit decisioning, the valuation is instructed by the system and a message is sent to Colleys."
*If there is a referral at submission, there has to be a referral and sign-off at every stage after that, (receipt of valuation etc) before the offer is issued.
If your broker then uploads the requested documents and calls to go over the initial checks and the documents are accepted, then the mortgage is accepted subject to valuation, but no-one announces that formally.
It seems you are desperately trying not to ask these questions of your broker. Is there any reason for that? They are supposed to put your mind at rest.
If I had to speculate, I'd say you've supplied what was requested and your mortgage offer will be issued about ten minutes after the valuation report is added to the case.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.0 -
Thank you for your patience.
I haven't had many conversations with my broker at all if I'm honest. He's obviously very busy, and I don't like to call in case he's in meetings etc, so most contact has been through SMS and email.
I think what it comes down to is a mortgage broker goes through this process every day whereas the rest of us only a couple of times every decade lol.
We just don't seem to get any reassurances from him, but other than that he's doing a great job I think.0 -
Am just about to apply to Halifax with similar thing - 2 defaults in 2011 - now satisfied...please keep us updated
- feel sick to my stomach about it all
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Will do.
I know the feeling and it's not good is it?
I'll keep you informed and good luck with your application.0 -
Hi just thought id post as we are in a similar position with Halifax. We got decision in principle 13/03/2017 then put the offer on the house that week. The full application was submitted 17/03/2017 which passed subject to normal underwriting and credit decisioning and valuation obviously.
We are with london and country and our broker has been very good he contacted us yesterday saying halifax had asked for more info and they are way ahead of schedule in doing this. We sent off what they wanted an answered the questions but we have not heard back since and im worried about it! I have really good credit but have a £10,000 loan outstanding and i only earn £11,500 annually. My boyfriend has 3 defaults from 2011/2012 one was settled a few years ago the other two only settled last week and is not showing on credit profile yet. He earns £40,000 annually with no outstanding debt.
I hope they can see past the defaults and see we can afford the mortgage. Good luck to you all keep us updated0 -
Looks like you're in a very similar position.
Our earnings are almost identical. We've gone HTB on a 200k mortgage so borderline earnings wise I believe.0 -
Maybe thats why yours is taking a bit longer because of the htb? Ours is a £170,000 house with a £17,000 deposit. I would definitely take the fact the valuation has been scheduled as a positive and shows they are more or less satisfied with your credit and affordability. Our broker advised that Halifax will sit on the valuation money untill the credit decisions have been made so that we dont lost out on any money in the process. Can I ask when did you find out your valuation had been booked and who informed you?
I have had the estate agents and solicitors ringing me asking when the valuation is being done and Ive been trying to hold off telling them we are waiting for the underwriter to pass us as I dont want them to tell the vendor or think its not going to go through and end up putting the house back on the market.0
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