Halifax checks on completion

jamielutz1987

As per our broker, the longer things drag on from offer to exchange/completion, the more likely it is that the lender will do additional credit checks, ask for latest payslip, etc. The way credit files are updated, there isn't a lot to be gained by checking them very frequently. 

chanz4

Irukai said:

chanz4 said:

the did when we took ours out before sending funds to the solicitor

Did they check you between offer and completion then again on payout? Our solicitor is doing teh request this week if she hasn't done so already  Would be interesting to see how many checks they did on you.

When I asked, they told me any change or event they scan your file incase something has changed

chanz4

Irukai said:

SimonBck said:

Just out of interest what are they checking when they perform the checks? Is it to see if you have taken out credit after the offer? 

So far we have had the following checks, we are going through a broker:
07 November: Hard Search: Checking Credit Application
13 January: Offer received after issues with valuation. Broker performed a soft check as well.
20 May: Hard Search: Checking Credit Application
20 May: Soft Search: Affordability Check
By the sounds of things we can expect one more search this week. Some say it is just an employment/bankruptcy check but not sure.

Our solicitor did the br check for halifax

MovingForwards

Solicitors always do the bankruptcy search as it's part of the conveyancing process.

Irukai

I will report back on Friday or Saturday once we have completed. It would be good to have a definitive answer in terms of what the final check looks like.

gab3x

Irukai said:

I will report back on Friday or Saturday once we have completed. It would be good to have a definitive answer in terms of what the final check looks like.

good luck 

Irukai

gab3x said:

good luck 

Than you!

Anamox

Moved with a Halifax mortgage in 2018, they didn't complete any checks at all after the initial offer... nothing on my credit file and nothing asked from me; mortgage offer to completion was around 5 months. Judging by the previous comments it is either random or if you ticked certain "we want to check you more often" boxes.

MovingForwards

Anamox said:

Moved with a Halifax mortgage in 2018, they didn't complete any checks at all after the initial offer... nothing on my credit file and nothing asked from me; mortgage offer to completion was around 5 months. Judging by the previous comments it is either random or if you ticked certain "we want to check you more often" boxes.

The world is different now compared to 2 years ago, lenders are moving goal posts and wanting to know if there are any problems affecting repayment of their loan. 

Irukai

Anamox said:

Moved with a Halifax mortgage in 2018, they didn't complete any checks at all after the initial offer... nothing on my credit file and nothing asked from me; mortgage offer to completion was around 5 months. Judging by the previous comments it is either random or if you ticked certain "we want to check you more often" boxes.

With COVID19 and furlough I think they would be doing more checks if your Mortgage offer was issued before lockdown, for now in our case I can confidently answer that checks are being done between exchange and completion. Will be interesting to see if one more is done on drawdown, our solictor requested the funds yesterday morning so keeping an eye out for any more checks.