Halifax mortgage

raysh

Hi All,

Does anyone know the time scale for Halifax mortgages approval?
The people I am buying from need to sign before end of this month and I'm concerned it may not be done by then. Submitted application on the 12th Sep though my broker. I don't even know if a valuation has been booked and how long does this even take. Any info would be most helpful.

spadoosh

18th Aug?

About 3-6 weeks from application to approval.

If youve not had a valuation done yet you might be pushing things for this month, particularly if that valuation raises any concerns that need investigating.

The people youre buying from might need to sign this month, the reality is though if youre not in a position to sign they wont be, they arent going to sell their house to someone else in the next 2 weeks. Theyll wait.

Lotak

I'm in the process of a remortgage with Lloyds, who, I'm pretty certain use the same system that Halifax does, since they are under the same Group.

If the application itself is straightforward (income is easily verifiable and LTV is healthy), it could be done in maybe 2-3 weeks from getting an AIP. But this is quite optimistic and would need all the stars to align. The variable that is most out of your control is valuation. If you can get a drive by / desktop valuation, this can be done very quickly. if they need a full valuation, that could cause a delay.
For me, there was no more than 3 days between the earliest they could have booked the valuation and when they did the valuation. It may have even been done on the same day and was done via drive by.
After that it's the legals, which can probably be done within a week if you are extremely efficient and they are on top of it.

raysh

thank you, I submitted 12th Sep, i put the wrong date

spadoosh

raysh wrote: »

thank you, I submitted 12th Sep, i put the wrong date

Yeh, youre more towards the 'unlikely to go through' end of the scale. It might, i wouldnt expect it to at all though.

raysh

Hi So just an update on time scales for Halifax.
Submitted 12/09/18
14/09/18 confirmed approved subject to valuation
Valuation booked 18/09/18
Formal approval 20/09/18