Halifax checks on completion

Irukai

Solicitor has received funds , no checks on our credit files this week. So in a nutshell one check was done between exchange and completion and nothing on drawdown.
Hope this helps, I get the feeling it might be a different experience for different scenarios.
Timeline again:
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
19 June: Completion
Hope this helps!

gab3x

So no payslips at the end, you didn't have to confirm your situation didn't change (furlough etc)?

Irukai

No payslips or furlough checks, however I do have a Halifax current account and was not furloughed. I think they were satisfied with the check they did on the 20th May. 

Thrugelmir

gab3x said:

So no payslips at the end, you didn't have to confirm your situation didn't change (furlough etc)?

Onus is on the applicant to notify the lender of material changes. The lender should be informed of remaining on furlough. 

Serdar048

Hi everyone we have got mortgage offer on march 29 and we set a completion date on 6th july  we are on fourlough with my wife but employer payin %100 so no changes in income and we are backing work on 4th july just wondering if any more checks will be carrying out and also mortgage advisor not been contact us since lockdown as we need insurance for home very complicated at the minute 

Irukai

When was the initial checks done? They may (and probably will) do another check before completion. In our case we had a check on application and a check was done between exchange and completion. When they did the second check I called both solicitor and mortgage broker for feedback and both said no news is good news. Which was the case. 

It is a nerve wracking process especially with the current economic situation I would say be prepared for a second check, if your paperwork is in order you have nothing to worry about.

Serdar048

Irukai said:

When was the initial checks done? They may (and probably will) do another check before completion. In our case we had a check on application and a check was done between exchange and completion. When they did the second check I called both solicitor and mortgage broker for feedback and both said no news is good news. Which was the case. 

It is a nerve wracking process especially with the current economic situation I would say be prepared for a second check, if your paperwork is in order you have nothing to worry about.

 Hi thanks for reply i hve spoke to bank for insurances they said i need to get one before complation which my exchange of contracts and completion will be same day so bank told me today solicitor asked fund and funds on is way but no search on my report when i applied my credit score was fair now is bacame excellent which im not worrying lets see what will happen i will let you know thanks

Irukai

If funds are on the way to the solicitor  then you are pretty much in the clear. Enjoy your new home!

fackers_2

I’m being told by my FA that Self employed folk are having an incredibly tough time getting mortgages accepted right now even with the 15%. Not accepting due to the current obvious drop in income or work they say.

Making me twitch a lot... I’m one of those folk within a hard hit sector too... BUT thankfully I can postpone my work until next year but still makes me very nervous.

SimonBck

My wife and I have a mortgage offer in place. My wife is self employed (sole trader), what check could they do for her pre completion? All her SA302s and tax overviews have already been submitted.