Halifax Mortgage application (awaiting decision)

RelievedSheff

tommyt-saver said:

RelievedSheff said:

TheLastMinute said:

Lo3n8 said:

Hi,
Just thought I'd share our timeline.We went through a broker to Halifax after trying direct ourselves and being declined on affordability by HSBC and Santander. LTV 60% 
DIP- 10/05
Full app submitted with documents- 11/05
Valuation - not sure date but was a desktop 
Mortgage offer - 13/05
Hope this helps! Halifax seem to be moving really quickly.

Well done, congratulations! 2 days is certainly very very quick, even for 60% LTV and desktop valuation - you're paperwork was obviously spot on, one of the advantages of using a good broker. 

Earlier this year we applied direct with Halifax for an 85%LTV remortgage. The turn around with a physical valuation was three working days. We were very impressed.

As an aside they revalued the house last month which dropped us into the 80%LTV bracket and dropped the interest rate. The remortgage completed this morning 😀

Thanks for sharing this. How does the revaluation work in such a small time frame? You disnt have to wait until the initial term was up? 

Our should increase in value after the work we put in so would be interested in doing the same. 

Thanks

We applied for the remortage with Halifax in January, but our mortgage with Kensington didn't finish until the beginning of May. So the offer was in place for five months before we completed. Halifax revalued the house in April as it was decided that the value had increased enough to put us into a lower LTV bracket.

The revaluation save us almost 0.5% on the interest rate

Our new 5 year fixed term started yesterday. So we have the same rate now for the next 5 years.

tommyt-saver

RelievedSheff said:

tommyt-saver said:

RelievedSheff said:

TheLastMinute said:

Lo3n8 said:

Hi,
Just thought I'd share our timeline.We went through a broker to Halifax after trying direct ourselves and being declined on affordability by HSBC and Santander. LTV 60% 
DIP- 10/05
Full app submitted with documents- 11/05
Valuation - not sure date but was a desktop 
Mortgage offer - 13/05
Hope this helps! Halifax seem to be moving really quickly.

Well done, congratulations! 2 days is certainly very very quick, even for 60% LTV and desktop valuation - you're paperwork was obviously spot on, one of the advantages of using a good broker. 

Earlier this year we applied direct with Halifax for an 85%LTV remortgage. The turn around with a physical valuation was three working days. We were very impressed.

As an aside they revalued the house last month which dropped us into the 80%LTV bracket and dropped the interest rate. The remortgage completed this morning 😀

Thanks for sharing this. How does the revaluation work in such a small time frame? You disnt have to wait until the initial term was up? 

Our should increase in value after the work we put in so would be interested in doing the same. 

Thanks

We applied for the remortage with Halifax in January, but our mortgage with Kensington didn't finish until the beginning of May. So the offer was in place for five months before we completed. Halifax revalued the house in April as it was decided that the value had increased enough to put us into a lower LTV bracket.

The revaluation save us almost 0.5% on the interest rate

Our new 5 year fixed term started yesterday. So we have the same rate now for the next 5 years.

Ahh, that makes sense... thanks for sharing! 

mmmmia

I went directly to Halifax, got my AIP on 24 April, called their MA on 11th May for application and verified my id on the same day. Submitted my payslips on 12th May and made a full application when I paid the mortgage product fee and valuation fee. On 13th May received a text said valuation and survey was booked for 17th May. They did the survey and valuation on 17th and reported back to Halifax matching offer price on the same day. I'm still waiting for my income and commitment box to turn green which is the only thing have not completed. So anxious! Not even know if there is anything wrong with my payslips or not, they didn't ask for more information.
Buying a house is very stressful! hope the mortgage offer arrive soon, finger crossed!

tommyt-saver

Offer came through today! Fan-bloody-tastic! 
We were 2x self employed and 1x employed, so needed a few extra docs . 

30th April - Submitted
6th May - Hard search on credit file
13th May - Valuation/homebuyers survey 
17th May - Extra self employment docs needed
19th May - Offer received! 

Good luck everyone

Sonson91

Lo3n8 said:

Hi,
Just thought I'd share our timeline.We went through a broker to Halifax after trying direct ourselves and being declined on affordability by HSBC and Santander. LTV 60% 
DIP- 10/05
Full app submitted with documents- 11/05
Valuation - not sure date but was a desktop 
Mortgage offer - 13/05
Hope this helps! Halifax seem to be moving really quickly.

Hi, what documents did they require from you? After being declined from both, how quick did you move on with this? 

Lo3n8

Sonson91 said:

Lo3n8 said:

Hi,
Just thought I'd share our timeline.We went through a broker to Halifax after trying direct ourselves and being declined on affordability by HSBC and Santander. LTV 60% 
DIP- 10/05
Full app submitted with documents- 11/05
Valuation - not sure date but was a desktop 
Mortgage offer - 13/05
Hope this helps! Halifax seem to be moving really quickly.

Hi, what documents did they require from you? After being declined from both, how quick did you move on with this? 

Hi, we had to give last month's payslips and 3 months bank statements (I think, but may have been 1) to prove child benefit and universal credit. I'd had issues with the others because we were trying to borrow more and include my btl property income and my monthly bonus which they didn't seem to like and scrutinized. I was declined from hsbc and applied to santander and submitted the application the same day. Once santander declined we submitted the full application through a broker to Halifax the next day. We had to act fast because all our solicitor searches were already back. We're now waiting on the chain below to stop pulling their feet and give exchange and completion dates, but we're worried as the people were buying off can't afford the stamp duty, so if it doesn't go through by the 30th then I think we're going to end up losing the property and all this stress would have been for nothing 😢

mat1964

my mortgage offer has been approved today 13 days after application. Pretty decent, given I've had to go through some additional hoops (Interest only team, then a loop back to the underwriters to add conditions on repaying debt).  

Gemm83

I'm confused on my one.... Was told Saturday before last everything had gone through (2 months payslips, 2 months bank statements and proof of child benefit) and hard credit search on same Saturday. Had vaulation last Tuesday. Last Wednesday confirmed valuation with message saying "pleased to confirm mortgage amount if £xxx is available"....Heard nothing until today when MA has asked for this month's payslips from both me and DH. We've sent them off asking why the need for them as MA had previously said all done and dusted, but no reply.

Starting to get scared!!! 😔

dan2442

tommyt-saver said:

Offer came through today! Fan-bloody-tastic! 
We were 2x self employed and 1x employed, so needed a few extra docs . 

30th April - Submitted
6th May - Hard search on credit file
13th May - Valuation/homebuyers survey 
17th May - Extra self employment docs needed
19th May - Offer received! 

Good luck everyone

Hi, if you don't mind me asking, what were the extra docs they asked you for on 17th May? Thanks!

tommyt-saver

dan2442 said:

tommyt-saver said:

Offer came through today! Fan-bloody-tastic! 
We were 2x self employed and 1x employed, so needed a few extra docs . 

30th April - Submitted
6th May - Hard search on credit file
13th May - Valuation/homebuyers survey 
17th May - Extra self employment docs needed
19th May - Offer received! 

Good luck everyone

Hi, if you don't mind me asking, what were the extra docs they asked you for on 17th May? Thanks!

Just both parts of the SA302. I’d only supplied half of it. So nothing to worry about