Halifax borrowing more process

*pinkie*

So am borrowing more for home improvements on my current Halifax mortgage.
Tried to do an online application but the automated valuation brought the LTV out too high.
So have gone via doing it all over phone which is annoying as it’s hard to track, but valuation is back and ok, incomes been verified, so what next?

Am I near the offer stage?

Ideally wanted it all pushed though before Xmas, spoke to call centre last Friday and not had a call back from mortgage advisor so sat here stressing! Not sure if everything s ok or not?! Will I have had a credit search done yet?

Buyer777

Ideally you should have your offer in a couple of days. I applied for a mortgage direct from Halifax recently and after valuation the case handling team (not your mortgage advisor) got in touch to tell me that the valuation has come back fine and that they are ready to issue the offer pending 1) payment of fees (because i opted to pay this upfront) 2) Some admin checks that my mortgage advisor needs to run.

I tried to get in touch with my mortgage advisor but he was on leave until the 27th so i had to keep pushing for them to escalate it to his manager who then got the admin checks done and my offer was confirmed 3 days after valuation. I reckon it could be something similar in your case with people being on leave holding up the process.

*pinkie*

Thanks , the call centre did say on Friday they were going to copy in my advisors manager as well into an email, to let them both know I’d been in touch.
Will call them again, hate being the pushy type of customer, but needs must!

*pinkie*

Just called and the offer is recorded on the system and paperwork is in the post! Was on done on Friday apparently- would have been nice if they’d had let me know! If paperwork comes by first thing tomorrow can accept offer and have funds before Xmas, otherwise will be in new year which is fine either way ��

Buyer777

ooh great. Glad to hear. Mine got done on Friday as well and paperwork came in with Saturday's mail. I was in a similar situation as you with my sellers pushing to exchange and complete before Christmas. Unfortunately my solicitors are now on leave so everything will have to wait till the new year.

Also, in your case I doubt you can get the money before Christmas as you will need to sign the mortgage agreement and from what I understand your solicitor needs to inform them a few days in advance before they can release funds. Unless the process is different for additional borrowing.

*pinkie*

Think it’s different as there are no solicitors involved, and the money gets transferred direct to my account. As you said would have thought there would be something to sign at least, but as long as I know everything has been accepted mortgage wise, can press on with booking builders even if funds don’t arrive until after Xmas :-)