Halifax timeline

nekr0mantik

scoey8 said:

nekr0mantik said:

Switched to Halifax as Legal and General outsourced to some truly bad valuers giving me 50k down valuation which does not match market rates for similar properties that have sold. 

Application submitted 2nd September
Valuation booked on 3rd for Tuesday 7th with E-Serv, 

Hopefully we get valuation back in 24 hours unlike legal and general which took 2 weeks!

Is that for a remortgage? if so are you getting the £750 cashback?

No FTB. No cashback.

CCrowthwr93

We’ve had our mortgage offer through in the post. It’s £1350 below what we needed with no explanation why. 

The valuation came back at full asking price. 

What do we do now? We don’t have that much extra money, literally every penny is accounted for (plus a tiny safety net for solicitors but not enough to cover this) 

Very confused and not sure how to proceed.

nekr0mantik

CCrowthwr93 said:

We’ve had our mortgage offer through in the post. It’s £1350 below what we needed with no explanation why. 

The valuation came back at full asking price. 

What do we do now? We don’t have that much extra money, literally every penny is accounted for (plus a tiny safety net for solicitors but not enough to cover this) 

Very confused and not sure how to proceed.

oh wow thats odd. I hope you get this sorted. 
If Halifax does not give you a reason then only option you have is either get vendor to reduce price by £1350 or try different bank. If valuation was fine and to correct value then not sure why Halifax would reduce offer.

FataVerde

Did anybody have a high (45%) deposit with Halifax? Did it make the process faster or longer? Thanks!

ccbrowning

1. 19 Nov 2021: Finally Found a house and got a mortgage DIP through Halifax
2. 02 Dec 2021: Reserved property after offer accepted
3. 03 Dec 2021: Full mortgage app submitted to Halifax via broker (75% LTV and higher income multiple)

peter3hg

30th Nov - Offer accepted on property

1st Dec - Full mortgage application made over phone

1st Dec - Survey booked and paperwork submitted

2nd Dec - Survey carried out and confirmed value at offer price

3rd Dec - Income checks complete, product fee paid and official offer made

Incredibly quick really, especially compared to the original mortgage on my current house that took about 10 weeks to get to the offer stage.

ccbrowning

ccbrowning said:

1. 19 Nov 2021: Finally Found a house and got a mortgage DIP through Halifax
2. 02 Dec 2021: Reserved property after offer accepted
3. 03 Dec 2021: Full mortgage app submitted to Halifax via broker (75% LTV and higher income multiple)

Still waiting on valuation here (e-surv). Lots of finger pointing all-round about who is responsible about not getting back to someone about visiting the property. Supposedly this is all that the decision is waiting on.

ccbrowning

Still waiting on the valuation! Total nightmare with e-surv.

buyerquery

peter3hg said:

30th Nov - Offer accepted on property

1st Dec - Full mortgage application made over phone

1st Dec - Survey booked and paperwork submitted

2nd Dec - Survey carried out and confirmed value at offer price

3rd Dec - Income checks complete, product fee paid and official offer made

Incredibly quick really, especially compared to the original mortgage on my current house that took about 10 weeks to get to the offer stage.

Hey Peter 
Someone from the bank called me last Friday(11/03) to confirm the details I have already provided regarding the income. House survey completed today (15/03) but the mortgage tracker suggests the income is still  on check. Did you face the similar situation. On the other side, the solicitors are demanding their initial fee. Not sure if I want to pay them at this stage without having a mortgage offer from the bank. Please can you share your experience.