Missives not signed due to waiting for Halifax response on Gift Deposit

Craigzeh

Hi All.

So we're FTBs in Scotland and are currently buying our first property. (move in date of 9th November)

Here's the timeline so far.

16/09/18 - Seen Property
17/09/18 - AIP approved from Halifax
18/09/18 - Offer submitted on house
19/09/18 - Offer declined
20/09/18 - Revised offer submitted
20/09/18 - Offer accepted
20/09/18 - Halifax Mortgage application submitted.
25/09/18 - Halifax Formal Mortgage offer sent out.
27/09/18 - Formal Offer received to myself and Solicitor.

We were expecting to conclude the missives however this hasn't happened yet as our solicitor says he's waiting to make sure the gift deposit letter and evidence we supplied for Halifax is fine. It's been a week since it was sent to Halifax and no further update. I find it odd as the mortgage adviser we spoke to didn't seem interested in the gifted deposit. I also can't understand whats taking so long considering the quick turnaround we had on the mortgage.

We're just worried a bit as the seller was wanting a quick sale and we've not concluded missives so nothing is set in stone yet. We're also holding off arranging anything until we have had confirmation. Is it normal to confirm gifted deposit evidence even though Halifax didn't ask us personally for it?

Thrugelmir

Craigzeh wrote: »

Is it normal to confirm gifted deposit evidence even though Halifax didn't ask us personally for it?

Perfectly normal. Solicitor conducts this on behalf of the lender and reports to them accordingly. Lender then confirms acceptance. Your mortgage offer is subject to various terms and conditions before it comes binding.

Craigzeh

Thanks for that, put me at ease a little as I didn't think it was normal procedure, especially as the mortgage adviser responded out of the blue with "I think we'll maybe get Halifax to check the Gifted deposit evidence first". Just seemed a little bit like it wasn't the norm but wanted to check with out case.

The seller did want confirmation by the 8th but he's assured us that it shouldn't matter as the dates for response are missed all the time as normally people don't even have a mortgage offer through that quick.

Just wish Halifax would hurry up with it now.