Halifax mortgage

car0404

Wondering if anyone has any recent Halifax application stories. Particularly self employed applicants? underwriting timescale? Desktop or physical valuation - how do they decide? Downvaluations?


We originally applied with nationwide back in a good couple of months ago however the valuation only happened a few weeks ago and it downvalued the house we are purchasing by 25k. We appealed this to no success. 

Husband is self employed so that application took forever. We have just applied for Halifax at the off chance they may value it slightly higher to give us a better chance of negotiation with sellers. 

We replied to an enquiry on Friday and was informed by broker that it has gone to underwriter on Monday and to expect an up to 8 working days for response. They will then book the valuation.

Any ideas on how soon the valuation may be booked when the time comes? How do they decide to go for a desktop or a physical valuation? Do you think they will value it the same as nationwide did? Has anyone had a downvaluation from another bank to then have a better survey from Halifax?????? 

I've not ready many cases of downvaluing from Halifax on here so my fingers are crossed very tightly. 
🤞
Cheers 

amnblog

The valuer has said the property is worth £25,000 less than you have agreed to pay for it.
Surely, you should be re-negotiating the price, not finding someone who will assist you in potentially overpaying by £25,000

car0404

amnblog said:

The valuer has said the property is worth £25,000 less than you have agreed to pay for it.
Surely, you should be re-negotiating the price, not finding someone who will assist you in potentially overpaying by £25,000

Yep that's the ideal scenario but the sellers don't seem to be budging on the price.