How do Halifax advise of offer??

jonnym8083

We recently had a mortgage application with nationwide however the valuation came back lower than anticipated for a new build property. We therefore have been advised to submit an application with another lender to get a second opinion for evaluation. We have submitted an application to Halifax via a mortgage broker and the valuation is due to take place today. Reading many posts people advised they have received their offer within 24 to 48 hours after the valuation. I am just wondering how people have received confirmation of their offer, Whether they have received emails or text messages for example. I know when we were in the process with nationwide we were receiving text messages at each point however I haven’t received anything from Halifax via email or text. Just wondering if maybe this information is going through to the broker or if this is the normal Halifax procedure and they don’t keep you up-to-date such as nationwide did with us. Any advice would be great he is currently going through the Halifax application and has recently had one completed

foxy-stoat

I would speak to the Broker, the offer will be sent to them.  Have you confirmed all incentives to the broker when you made the application and whats your LTV %?

jonnym8083

It’s HTB so 75%... no incentives just a dishwasher 

Retired_Mortgage_Adviser

OP, how much is the valuation off by? If not by much, it shouldn't be unsurmountable as there are lenders who have more of an appetite to lend for new build mortgages as compared to others who are far more cautious.

Fingers crossed, the valuer firm appointed by Halifax isn't the same as that used by Nationwide in your area and comes back with a higher figure.

Halifax is quite good with turnaround. If you have had the valuation today, the broker should receive an update by eod Monday or so. I don't recall if they send an sms to the client or not.

jonnym8083

Thanks all so far...
house is 310k valuation via countrywide 290k(nationwide). 2nd lender Halifax use Eserv. If come back low again hoping builders will look to reduce cost as with HTB the valuation has to match the sale price basically we can’t put the different ourselves even if we could afford to not that we can which is why using HTB in the first place 

Retired_Mortgage_Adviser

I wish you luck. Is the broker any good and do they know how to place new-builds?

If the builder refuses to match the valuation that Halifax returns, there may still be lender options out there that might work. 

jonnym8083

Yes he seems very good... I have late payments from 18minths ago... 2 mortgage brokers before were saying precise mortgages however he has gone through our files and managed the nationwide and Halifax deals... other brokers were saying no high street would touch me as more then 2 late payments in 24 months.
He hasn’t had a devalue on a new build before said normally just come back same price and not normally any comparables in the area.

Windofchange

We're into the Halifax process currently. Application in to mortgage offer in 6 days. I then a day later got the letter saying that a valuation would be instructed, so they seem to have done it so quickly it beat the letter advising me they were doing a valuation! House got valued what we had offered for it, and we have since had a full homebuyers through with a few things for us to think about. The way it worked for me is my broker sent me a mail saying mortgage approved and attached the offer letter from the Halifax, so I'm assuming it will be the same for you as you are going through a broker too. 

jonnym8083

Great cheers for the heads up