Halifax Morgage do they need to do further checks?

LadyEE123

Hello, 

I am hoping to move into my new house in the next 3/4 weeks. My Morgage has been completed with Halifax- does anyone know if they will do any further checks prior to releasing the funds to my solicitors? Will they require bank statements/payslips? Or will they continue to monitor my credit file on Experian?

Windofchange

Impossible to say, but for our purchase in August they didn't. Only checks they made were at full application in February, nothing more. 

CSL0183

LadyEE123 said:

Hello, 

I am hoping to move into my new house in the next 3/4 weeks. My Morgage has been completed with Halifax- does anyone know if they will do any further checks prior to releasing the funds to my solicitors? Will they require bank statements/payslips? Or will they continue to monitor my credit file on Experian?

No, they didn’t with my purchase. Approved in August but never completed to mid October due to aligning with seller. 

However, the solicitor did when transferring the deposit and outlays a day or so before completion. 

Essentially having to resend updated bank statements I had sent 2 months prior to them to show proof of deposit. They need to verify for money laundering reasons.

Why the question? Are you thinking about taking out borrowing between now and completion? Not sure if they would catch this or not. 

LadyEE123

I have been made redundant and my house is about to complete in the next week or so 😭

Thrugelmir

Do you intend informing the lender? 

Windofchange

LadyEE123 said:

I have been made redundant and my house is about to complete in the next week or so 😭

Have you exchanged contracts? I think there was a thread on here recently from someone who had similar, and the question what should I do brought responses from both sides. There is of course your legal obligation etc, but I can certainly have some sympathy with the thoughts of keep quiet when faced with losing your 10% deposit. Feel for you if this is the case. 

MWT

Windofchange said:

There is of course your legal obligation etc, but I can certainly have some sympathy with the thoughts of keep quiet when faced with losing your 10% deposit. Feel for you if this is the case. 

It is a horrible situation to be in, but I'm not sure it helps to even hint at support for not informing the lender, on the one side is the legal obligation and on the other side is opportunistic fraud which can carry a jail sentence.

If the fraud path is chosen then there is the risk that if discovered the result could be not only the loss of the current mortgage and potential jail time, but an inability to get a mortgage in the future at anything like normal rates, or possible not at all for a number of years.

So sorry to hear the OP is in this position, but I don't see that there is any choice to be made, the lender has to be informed...

shakAFC

Hi, really sorry to hear.
I just completed and they didnt do any more checks. Not even a credit search. I was worried as I'd spent £1200 on my credit card (£4000 limit) - so about 30%. I paid it off at the same time but the payment did register until two days later, by then my files had updated.

inzimam99

I don't think anyone can see the balance on your credit card until it gets converted to a statement as part of your regular billing cycle. It is your statement  balance that shows on your credit report