Halifax Application/ Offer process

nsmedley

i have had a mortgage offer and im awaiting date to exchange contracts.
if i instruct a direct debit for a loan before the mortgage is completed will it flag up and jeopardize my mortgage offer?

Carl2510

FTHophap said:

@Carl2510 I'm purchasing a new build too and I had a physical valuation. Count your blessings your wait is relatively short! 

It seems it maybe a physical Valuation as it’s only booked in for 10/09 when I submitted application on 26/08

Carl2510

nsmedley said:

i have had a mortgage offer and im awaiting date to exchange contracts.
if i instruct a direct debit for a loan before the mortgage is completed will it flag up and jeopardize my mortgage offer?

Do not risk it with any new credit or loan agreements.

Peter74

When was the loan applied for?  Before or after the credit check on the mortgage application?

Gem_M90

My broker submitted my application with Halifax on 13th August, around a week later I was told it had been passed to underwriters. 
Friday 28th August my broker contacted me to say the underwriters had sent the application back for undeclared credit on my file. 
On further investigation, it turned out my experian report hasnt updated for 2-3 months and there's about £4500 more credit showing on there that's now been paid. Gathered together all statements and proof of payments etc and sent it across.
Application resubmitted 02/09 and was accepted by Halifax but has been passed straight to underwriters again due to previous discrepancies. Halifax have told my broker it'll be another 5-6 working days minimum before I hear.
Broker has asked them to put my valuation survey on hold until application is confirmed so I dont lose my £200 survey fee (I've reserved a new build which hasn't been started yet so I'm assuming the survey part will be done quickly, I'm in Scotland)