Halifax Valuation Timeline/ Underwriter

watch3r

FTHophap said:

watch3r said:

 FTHophap said:

Jazmin28 said:

FTHophap said:

This is a relief to see that other people are going through the same thing. I have been sat at Approved awaiting Valuation stage for three weeks. Application originally went in 12th June. Not sure where the delay is 😅seems people are playing hot potato.
Perhaps it’s because it’s HtB

are you with Halifax as well? 
Yeah i just dont get it, some people get theirs done like super fast and then there is us who are doing htb and its all but standstill... when did you get notice of valuation instructed? 
Also are you using a broker? 

I’m with Halifax (knock wood)  I have been waiting for the valuation to be booked in since 23rd June. Using a broker,

I’m surprised it’s taking so long considering the number of properties reserved and progressing. Perhaps it’s a London thing?

If you think about it most HTB properties are not finished yet or in various stages of building. Not all the sites are open etc. they can’t view the property if it’s not safe , or incomplete. Builder wants to present it as well if it’s a physical valuation, and probably there’s a backlog of valuations . Not everything can be AVR and I’ve come across some serious undervaluations for new builds so probably that doesn’t help. And after two months of standstill I can imagine lenders are pushing straight forward high chance of completion cases ( I would do, after two months of “out of business” I would prioritize the applications that have the best potential) but then I will repay 1.54 the amount I’ve borrowed ( 30 years 1.81 5 year fix) so every customer counts and you can see more and more offers on the market .

Oh my place is complete and operational, the fridge is running and all. I know other valuations are going ahead with people who reserved at a similar time - just not mine 😅

i almost wish your explanation applied to my case haha

patience i suppose - what’s the worse that could happen!

Give you sales menager ( or someone in charge ) a call and politely ask them to give you a ring when you valuation will be booked.
to be honest my developer started to take us seriously after the valuation was booked , before you just someone that paid 500 £ reservation and is awaiting a mortgage...

Jazmin28

FTHophap said:

watch3r said:

 FTHophap said:

Jazmin28 said:

FTHophap said:

This is a relief to see that other people are going through the same thing. I have been sat at Approved awaiting Valuation stage for three weeks. Application originally went in 12th June. Not sure where the delay is 😅seems people are playing hot potato.
Perhaps it’s because it’s HtB

are you with Halifax as well? 
Yeah i just dont get it, some people get theirs done like super fast and then there is us who are doing htb and its all but standstill... when did you get notice of valuation instructed? 
Also are you using a broker? 

I’m with Halifax (knock wood)  I have been waiting for the valuation to be booked in since 23rd June. Using a broker,

I’m surprised it’s taking so long considering the number of properties reserved and progressing. Perhaps it’s a London thing?

If you think about it most HTB properties are not finished yet or in various stages of building. Not all the sites are open etc. they can’t view the property if it’s not safe , or incomplete. Builder wants to present it as well if it’s a physical valuation, and probably there’s a backlog of valuations . Not everything can be AVR and I’ve come across some serious undervaluations for new builds so probably that doesn’t help. And after two months of standstill I can imagine lenders are pushing straight forward high chance of completion cases ( I would do, after two months of “out of business” I would prioritize the applications that have the best potential) but then I will repay 1.54 the amount I’ve borrowed ( 30 years 1.81 5 year fix) so every customer counts and you can see more and more offers on the market .

Oh my place is complete and operational, the fridge is running and all. I know other valuations are going ahead with people who reserved at a similar time - just not mine 😅

i almost wish your explanation applied to my case haha

patience i suppose - what’s the worse that could happen!

Yup ours too is fully completed and it is a small private development 8 houses outside of London near oxfordshire -its not a taylor wimpy of sorts, i spoke with the developer and he is also saying that it taking time for them to be valuated. @watch3r i see your point it makes sense. We negotiated on the house and think its pretty fair price in the market, i know some developers are just charging crazy money and you dont get that much .

I dont know if reading all these comments is helping or just being patient is better, i think ill go for the patient method. 
Keep me updated all  

watch3r

Jazmin28 said:

FTHophap said:

watch3r said:

 FTHophap said:

Jazmin28 said:

FTHophap said:

This is a relief to see that other people are going through the same thing. I have been sat at Approved awaiting Valuation stage for three weeks. Application originally went in 12th June. Not sure where the delay is 😅seems people are playing hot potato.
Perhaps it’s because it’s HtB

are you with Halifax as well? 
Yeah i just dont get it, some people get theirs done like super fast and then there is us who are doing htb and its all but standstill... when did you get notice of valuation instructed? 
Also are you using a broker? 

I’m with Halifax (knock wood)  I have been waiting for the valuation to be booked in since 23rd June. Using a broker,

I’m surprised it’s taking so long considering the number of properties reserved and progressing. Perhaps it’s a London thing?

If you think about it most HTB properties are not finished yet or in various stages of building. Not all the sites are open etc. they can’t view the property if it’s not safe , or incomplete. Builder wants to present it as well if it’s a physical valuation, and probably there’s a backlog of valuations . Not everything can be AVR and I’ve come across some serious undervaluations for new builds so probably that doesn’t help. And after two months of standstill I can imagine lenders are pushing straight forward high chance of completion cases ( I would do, after two months of “out of business” I would prioritize the applications that have the best potential) but then I will repay 1.54 the amount I’ve borrowed ( 30 years 1.81 5 year fix) so every customer counts and you can see more and more offers on the market .

Oh my place is complete and operational, the fridge is running and all. I know other valuations are going ahead with people who reserved at a similar time - just not mine 😅

i almost wish your explanation applied to my case haha

patience i suppose - what’s the worse that could happen!

Yup ours too is fully completed and it is a small private development 8 houses outside of London near oxfordshire -its not a taylor wimpy of sorts, i spoke with the developer and he is also saying that it taking time for them to be valuated. @watch3r i see your point it makes sense. We negotiated on the house and think its pretty fair price in the market, i know some developers are just charging crazy money and you dont get that much .

I dont know if reading all these comments is helping or just being patient is better, i think ill go for the patient method. 
Keep me updated all  

We looked at Perissimon homes , on the estate we found 6 homes with “before you buy talk to us” I actually felt sorry for them as they had some major issues , taylor w - we seen couple houses , they would pay stamp duty for us and basically you could get down by 10-20 k straight away . 

We found Abel homes and we loved it talked to people who live there and decided to go with them. House price was final and no negotiations from them what’s or ever, but they house was build so we could check the quality of everything from the carpets to small bits etc . and the sales Lady on our last visit was “ if you want to have a look here are the keys you know where it is” 👌😅
still stressed about the valuation ... I really want to move in as if they undervalue we can question it or they can lower the price if they lower the price the whole application needs to start over including HTB ... 

RPF1992

Jazmin28 said:

RPF1992 said:

We are First Time Buyers on London H2B - valuation has been pending since 25th June...

I can fully imagine valuations are delayed due to location of the property (N.London).

wow that is a long time, our property isnt based in London its based near Thame, south oxforshsire 
Fingers crossed you will get yours soon 

Fingers crossed all around! Let me know how you get on

Jazmin28

RPF1992 said:

Jazmin28 said:

RPF1992 said:

We are First Time Buyers on London H2B - valuation has been pending since 25th June...

I can fully imagine valuations are delayed due to location of the property (N.London).

wow that is a long time, our property isnt based in London its based near Thame, south oxforshsire 
Fingers crossed you will get yours soon 

Fingers crossed all around! Let me know how you get on

Yeah lets see this week i will keep you all posted! i am sure its just round the corner. 

Jazmin28

kingstreet said:

Most Halifax cases are not greatly dealt with by human beings. The system is mostly automated. Your application is submitted, if it's normal, the valuation is instructed immediately. Evidence of income is uploaded and if acceptable, signed-off immediately so the mortgage is approved subject to valuation. Once that comes back, as long as it's fine, the offer is produced and issued.
Awkard stuff with past-adverse, high LTV, self-employed may need business assessor referral and that slows the process as sign-off is then required at each stage - income, valuation instruction, valuation returned and offer.

just read this again, so are you saying that Halifax is just waiting for our valuation to be done and then an offer can be made? I cant find any where to tell me this information. We are not Self employed and do not have any past awkard adverse stuff going on. We are just FTB using HTB 20% and ATP has been approved already about 4 weeks ago. LTV is 75%

fackers_2

Self employed here and applied with Halifax via Broker.

20th June - MIP
22nd June - Income documents submitted along with Mortgage APP
26th June - Underwriters rejected PDF SA302 and requested scanned copies of the printed version (no difference at all).
27th June - Submitted newly requested versions
9th July - Valuation Instructed
16th July - Valuation and survey



Despite all my anxieties, it seems to be going through all smoothly and fairly quickly 

Jazmin28

Good news for, just been told my out seller/estate agent that our valuation is booked in for this Thursday the 16th July
I would advise that if you are chasing the bank, its a good idea to also ask your estate agent to keep you updated as well, as i guess they are first to hear when its booked in. 

watch3r

Jazmin28 said:

Good news for, just been told my out seller/estate agent that our valuation is booked in for this Thursday the 16th July
I would advise that if you are chasing the bank, its a good idea to also ask your estate agent to keep you updated as well, as i guess they are first to hear when its booked in. 

Fingers crossed 🤞 

Jazmin28

Hi All ! 

So we have our valuation today, and myself and partner were wondering if;

1. How long after Valuation/Survey should we expect to hear?
2. Will that share the offer post evaluation? 

I heard on this thread that Halifax is quite automated so was just wondering.
Our MA said that because there was such a delay from the 29th June to actually get a booking for Valuation confirmed, they might of already done the underwriting. Our MA also says that they have 100% looked at the application as he had to confirm a few extra things to them [not sure what... ]

Any response i'd be grateful