Halifax Valuation Timeline/ Underwriter

craig_87

Morning,
Ive just recently applied to Halifax after being declined with TSB. All appeared fine with TSB until they noticed my application was missing my middle name which was on my passport, they re ran it and i failed their own credit score, after saying it wouldnt be an issue ( perfect credit score etc).

Anyway fast forward to now, my application is with Halifax and the broker has advised they are happy to provide the loan amount and verified our income. Transcript of the home report has now been sent to the underwriter for final checks. I only applied 2 days ago, so a bit sceptical and worried. Does it appear from the above weve passed their credit checks etc with the underwriter.

(We are in Scotland btw)

Thanks

craig_87

Valuation came back fine, Halifax requesting Junes payslip for my partner as her July one has holiday pay on it. Apparently this is a formality, hoping its not an issue with the credit/ affordability check and we are nearly there 😣

whatislife786

My timeline so far:
29/07/20 - Offer accepted

31/07/20 - decision in principle

03/08/20 - full application submitted (Scotland)
still waiting hate waiting.......

Jazmin28

this is our probelm at the moment,.... So stupidly long!

Is  anybody else going through this right now,

We just received this email, which we are pretty annoyed about, i think our solicitor is not able to manage the workload, but could be wrong; below is part of an email which our solictor shared to us.

Please let me know what you all think..? 
Is she trying to say that we wont be moved in till around 4-6 weeks time?

"" As this is a help to buy, please note we cannot ascertain exchange and completion dates at the moment, with help to buy we need to obtain authority for exchange first, and this process out of experience that I had on a recent file can take a good 2 weeks sometimes longer, as we have to send them the form 1 document, sometimes it is not accepted and changes are requested, we then have to re-do and re-submit this and it takes them 5 days to reply back to us. So this is the process of exchange. Once authority for exchange is in, we then can proceed with exchange and completion, but please note again we have to submit a form 2 to get authority for completion, which again can be a lengthy process therefore ideally we need to allow time for this to be done, as without the authority to proceed with completion we cannot complete on the matter and if we have a set completion date you will then be defaulting the contract. You will need to allow at least 2-3 weeks minimum in between exchange and completion for this process to be dealt with. "" 

watch3r

Ok 2-3 weeks from exchange to complete is kind of long and scary for me.
i’m currently trying to speed up my ATE. 

When I talked to my HTB AGENT ( expect like 2 hours wait so don’t bother calling after 4pm) I was given 8 days and as my solicitor send extra documents on Monday afternoon , they count Tuesday as submission date so Today is my first day waiting for ATE ( like 3 weeks after I got my mortgage offer). You have two choices - simultaneously exchange and complete ( check with solicitor and developer) or ask you developer to give HTB a call and try to speed up the process. 

I did the second , was surprised that managing director is dealing with it and surprised he called me this morning with an update . 

In some paperwork from my bank it says that solicitor needs to send them something after exchange and prior to completion and that’s minimum 5 working days . So technically I’m looking at another 3-4 weeks ... This is ridiculous... 

Thrugelmir

Jazmin28 said:

this is our probelm at the moment,.... So stupidly long!

Is  anybody else going through this right now,

We just received this email, which we are pretty annoyed about, i think our solicitor is not able to manage the workload, but could be wrong; below is part of an email which our solictor shared to us.

Please let me know what you all think..? 
Is she trying to say that we wont be moved in till around 4-6 weeks time?

"" As this is a help to buy, please note we cannot ascertain exchange and completion dates at the moment, with help to buy we need to obtain authority for exchange first, and this process out of experience that I had on a recent file can take a good 2 weeks sometimes longer, as we have to send them the form 1 document, sometimes it is not accepted and changes are requested, we then have to re-do and re-submit this and it takes them 5 days to reply back to us. So this is the process of exchange. Once authority for exchange is in, we then can proceed with exchange and completion, but please note again we have to submit a form 2 to get authority for completion, which again can be a lengthy process therefore ideally we need to allow time for this to be done, as without the authority to proceed with completion we cannot complete on the matter and if we have a set completion date you will then be defaulting the contract. You will need to allow at least 2-3 weeks minimum in between exchange and completion for this process to be dealt with. "" 

Seems self explanatory. Due to Covid working practices are considerably slower. Not helped by the summer holidays nor many people still being on furlough. That's a fact of life across the board. 

adrian84

05.08 aip with halifax
06.08 application submited
06.08 hard search on our credit files
07.08 soft check/ affordability check
11.08 valuation took place
Waiting for the offer, i hope they will send it automatic and no need for human underwritter 
MA told me it is an 8 working days turnover so if they will need anything else or it will be sent the offer by underwritter it means next week on friday i should know earlieast.

Tatsman

Hi All,
Really good to read this thread. The waiting is really anxiety inducing. My timeline is as follows: 

• 13/08 - DIP received
• 17/08 - full application submitted
• 17/08 - hard searches on credit files
• 18/08 - valuation instructed 

We are currently waiting for the actual valuation to be booked in. Just wanted to find out if there are others out there who are in a similar scenario? 

MaryNB

Tatsman said:

Hi All,
Really good to read this thread. The waiting is really anxiety inducing. My timeline is as follows: 

• 13/08 - DIP received
• 17/08 - full application submitted
• 17/08 - hard searches on credit files
• 18/08 - valuation instructed 

We are currently waiting for the actual valuation to be booked in. Just wanted to find out if there are others out there who are in a similar scenario? 

If it's a physical valuation, stay on top of them. They told me it would be 3-5 days to book the valuation in but by the end of day 6 (Friday last week) it hadn't been done - the EA had heard nothing. I got the surveyor's number from Halifax and gave it to the vendor's EA on Friday. It was arranged today. Valuation to be done this Friday.

My Halifax timeline:
10/08/20 Got an AIP & booked a mortgage appointment
12/08/20 Halifax mortgage appointment & application submitted. Payslips submitted, ID checked at branch. Soft & hard credit searches.
13/08 Valuation instructed
18/08 Product fee paid. No further info from me required. Halifax confirmed the only thing outstanding is the valuation.
20/08 Rang for an update. The valuation hadn't been arranged.
24/08 Valuation arranged for 28/08

Tatsman

MaryNB said:

Tatsman said:

Hi All,
Really good to read this thread. The waiting is really anxiety inducing. My timeline is as follows: 

• 13/08 - DIP received
• 17/08 - full application submitted
• 17/08 - hard searches on credit files
• 18/08 - valuation instructed 

We are currently waiting for the actual valuation to be booked in. Just wanted to find out if there are others out there who are in a similar scenario? 

If it's a physical valuation, stay on top of them. They told me it would be 3-5 days to book the valuation in but by the end of day 6 (Friday last week) it hadn't been done - the EA had heard nothing. I got the surveyor's number from Halifax and gave it to the vendor's EA on Friday. It was arranged today. Valuation to be done this Friday.

My Halifax timeline:
10/08/20 Got an AIP & booked a mortgage appointment
12/08/20 Halifax mortgage appointment & application submitted. Payslips submitted, ID checked at branch. Soft & hard credit searches.
13/08 Valuation instructed
18/08 Product fee paid. No further info from me required. Halifax confirmed the only thing outstanding is the valuation.
20/08 Rang for an update. The valuation hadn't been arranged.
24/08 Valuation arranged for 28/08

thanks for that MaryNB. I went through a mortgage broker so i don't have a direct contact at Halifax. My broker did mention that it should take 2 days to get the valuation booked in but its 4 now. I have sent a note to my broker asking them to chase but waiting to hear back. Aaargh. 
Hopefully it should be really quick for you after Halifax have received the valuation report back.