Halifax mortgage - awaiting valuation, what happens next?

jrrrrj

Hi all,
I’m with a broker who is proving berg difficult to get hold of so I’m hoping someone can give insight.

DIP 23/10
Application 23/10
Valuation booked for 04/11

The last I heard from the broker was on Wednesday when she said that she had spoken to Halifax and they’d said my case “was agreed pending valuation”. I asked a string of questions around what happens next, and is it likely I’ll need to supply anything else, and what time frames I’m looking at, but she hasn’t responded other than asking if she can refer me to someone about life insurance!

Anyone have any idea on what happens next? Is it looking straight forward and does such a thing exist as ‘agreed pending valuation’?
 

Thrugelmir

Your application is with the lenders underwriters undergoing due process and diligence. The valuation might yet come back at a lower value than you offered. Hence why one can only wait. 

Graeme1978uk

There’s quite a few threads about Halifax timeline over the last month or so. Having just completed with Halifax myself I can tell you that their turnaround time looks to be much faster than any other lenders.

Something to consider though is that it looks like a 2nd national lockdown is imminent and during the 1st lockdown, a lot of valuations couldn’t take place so do be prepared for possible delays.

jrrrrj

Graeme1978uk said:

There’s quite a few threads about Halifax timeline over the last month or so. Having just completed with Halifax myself I can tell you that their turnaround time looks to be much faster than any other lenders.

Something to consider though is that it looks like a 2nd national lockdown is imminent and during the 1st lockdown, a lot of valuations couldn’t take place so do be prepared for possible delays.

Thank you! I’m in Wales so we’re already in lockdown but the valuation has been confirmed as a desktop valuation.

Congratulations on your new home!

jrrrrj

Thrugelmir said:

Your application is with the lenders underwriters undergoing due process and diligence. The valuation might yet come back at a lower value than you offered. Hence why one can only wait. 

I thought as much, but it was the use of her language ‘Agreed subject to valuation’. I was trying to understand from her, whether this meant if the valuation was ok, I’d be proceeding to offer stage but I haven’t had clarity from her.