Halifax valuations

craig_87

Hi,

We are in the process of trying for a mortgage with Halifax in Scotland. 2 searches on our credit score have been done, have been advised the loan amount we require is acceptable and our income has been verified, does this mean we have passed the credit checks and have been approved that side?

Broker says transcript of the home report has been sent to the valuation team (other underwriters) for final checks on the property. 

Does this appear we are basically just waiting for them to confirm they are happy with the house price? I read alot on here paying and waiting for valuations, ive not been asked to pay for one, from above seems they are taking value as per home report?

Any advice, insight would be appreciated.

Girlisgettingthere

Hi @craig_87 my partner got his mortgage offer from Halifax on Monday. Full application was only submitted Thursday before so a total of 3 working days until offer. Only question asked was if he could confirm who the solicitor was. Once they had valuation (home report) offer was sent immediately. We've not even seen any searches on his credit report yet (check my file) although I know it can take a while to show. 

craig_87

Hi, thanks for the reply.

Seems it can go that quickly then, didnt realise they used the home report as a valuation. Ill just take it as if ive passed their credit and suitability checks and that its just them waiting to confirm on the property itself.

Hopefully hear come Monday one way or the other.

Girlisgettingthere

If you got the dip then you passed affordability and credit checks. The rest is just them checking your paperwork/doing searches to make sure it matches up with what was put on your application. If everything matches you should be fine. Yeh they will use the home report for valuation in Scotland. Fingers crossed you find out soon.

craig_87

Im assuming the fact its now with the valuation team to check the home report/valuation ive passed everything else. I did have a DIP with them to start with. Time will tell i guess.

FTHophap

Fingers crossed @craig_87. Halifax has had my application since early / mid June. Really hoping for an offer early this week 🤞hoping that nobody’s as slow as mine haha

craig_87

Really, wow. Have they advised if its progressed at all? From what ive read Halifax appear to have a very quick turnaround compared with other lenders.

FTHophap

It was subject to valuation for a long long time and then the valuation happened a week ago.

All in all, it’s going at a snails pace, but 🤞 I’ll get there in the end 😂