Halifax Additional Borrowing

Hi

i have a current mortgage with Halifax at 69% LTV.

looking to take it upto the 85% for home improvement I have the plans and planning permission in place for this. I also have written quotes from builders to support this.

my question is how long does it take from application to valuation to the release of funds?

looking for a time scale so I can judge when the work could possibly take place.

Comments

  • Application to release of funds with Halifax is usually a day, maybe 2 (super automated systems)  Stick a valuation in the middle and you'll add on however long it takes to get a valuation booked.  Could be 3or 4 days if the valuer is free, could be 2 weeks if they are busy.  
    Once you submit the application and pay for the valuation you should get a valuation date within a day ish

    It all happens quite quickly with Halifax.  Some other high street lenders can take months to release additional borrowing
  • Application to release of funds with Halifax is usually a day, maybe 2 (super automated systems)  Stick a valuation in the middle and you'll add on however long it takes to get a valuation booked.  Could be 3or 4 days if the valuer is free, could be 2 weeks if they are busy.  
    Once you submit the application and pay for the valuation you should get a valuation date within a day ish

    It all happens quite quickly with Halifax.  Some other high street lenders can take months to release additional borrowing
    Hi, thanks for that.

    on my initial call they told me it would require a valuation that carries a fee of £199 I believe. 

    So I think that’s an internal valuation I believe as there index valuation was pretty much what I expected based on other property’s and Zoopla valuation etc.

    Heres to a 2-3 hour phone call tomorow at least then. When I went to book a appointment they had no availability for 2 weeks to speak to a advisor for an application. So told me to call and go through it there and then instead when I was free to do so.

    first time going through this process
  • Ask Halifax. 
  • Go through a broker if Halifax arent available. I think we have a few extra rates available as well (or at least we used to a few months back).   Same process but you'll get an appointment much quicker and i doubt you'd find a broker in the country that would take 2-3 hours on the phone to get something done.  

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