Broker phoned to say Halifax have requested valuation

Keri092

Hi wall,
So I posted a few days ago to try and get some info about our mortgage application.
Myself and my partner put in full application through broker for lender Halifax. I’m still very jubious as I have adverse credit (number of defaults from 5 years ago) which are satisfied and a dmp which was satisfied and closed January 2017.
We have just had a phone call from broker stating Halifax has requested valuation fee. Does this mean credit checks are done etc?
My broker states they just have to look through our evidence documents (payslips etc) to confirm they tally up and then it will be done?
Does that seem about right? I’m still extremely worried and anxious that it will get declined.

Any advice etc would be great!

Thankyou x

andyf1980

Sounds not dissimilar to our situation and it all went through fine. Trust your broker as they deal with this stuff every day.

Hope that helps and fingers crossed for you.

David_White

I wouldn't read anything into the valuation fee being taken as this will almost always happen when an application is submitted.

All being well your broker should have sense checked your documents before sending up to Halifax so I'd keep faith with them.

Keri092

Thankyou for your responses.
I guess it’s just a waiting game now to find out if it’s approved or not.
Any idea of what usually happens at this stage with Halifax and timeframe?

stevenhp1987

Keri092 wrote: »

Thankyou for your responses.
I guess it’s just a waiting game now to find out if it’s approved or not.
Any idea of what usually happens at this stage with Halifax and timeframe?

What's your deposit level?

I've read various things that Halifax are one of the most lenient high street banks when it comes to old default... From what I've heard, 15% + with 5 year old defaults - You've not to worrry at all!!!

Keri092

Our deposit level is only 5% however we are using help to buy and our broker said technically we have 25% and seeking a 75% mortgage. Does that sound about right?
Many thanks

Neutrinno

Keri092 wrote: »

Our deposit level is only 5% however we are using help to buy and our broker said technically we have 25% and seeking a 75% mortgage. Does that sound about right?
Many thanks

Yes, the equity loan will enable you to be treated as a 25% deposit.