Halifax valuation to offer timescale?

Mortgage_99

Hi I am wondering how long Halifax take from valuation being carried out to getting an offer. We applied through broker and had a valuation take place yesterday on Tues 8th March. I read online it can be a couple days but from Experience how long have other people had to wait to receive it.

kingstreet

Can be instant offer as soon as the valuation is received and accepted; or a few days if the application had human involvement from the start. Do you know if valuation was instructed as application submitted or if it had to be referred and the valuation instructed manually?

Mortgage_99

kingstreet said:

Can be instant offer as soon as the valuation is received and accepted; or a few days if the application had human involvement from the start. Do you know if valuation was instructed as application submitted or if it had to be referred and the valuation instructed manually?

Thanks for the quick response. The valuation had to be instructed manually once the underwriting was done. Do you think as it was done yesterday we should receive our offer by the end of this week? And if would telling our broker to chase up on it with Halifax make any difference?

kingstreet

It's usually two working days from valuation receipt to sign-off for the offer to be issued. It might be tomorrow or Friday.

We've had apps sitting on "Valuation Completed" and if we hadn't called to ask for the app to be moved on, it would never have been offered, so it's always worth a call if that's the case status.

Mortgage_99

kingstreet said:

It's usually two working days from valuation receipt to sign-off for the offer to be issued. It might be tomorrow or Friday.

We've had apps sitting on "Valuation Completed" and if we hadn't called to ask for the app to be moved on, it would never have been offered, so it's always worth a call if that's the case status.

Okay thank you. I will reach out to the broker tomorrow if we don’t hear anything. Once an application is at valuation stage with Halifax can it still get rejected for anything besides something to do with the valuation? Or is it basically accepted as long as valuation is fine. Is it common for applications to get rejected at this final stage?

kingstreet

It should have been agreed before the valuation was instructed if it needed manual intervention.

Mortgage_99

kingstreet said:

It should have been agreed before the valuation was instructed if it needed manual intervention.

Alright thanks. It’s just that our mortgage broker wasn’t clear he just said to us that “it’s moved onto valuation now” after it was done with the human underwriter but I didn’t know if that meant it’s accepted subject to valuation being carried out or not. I guess it’s just a waiting game now for the offer.

kingstreet

Any decent broker wouldn't allow your valuation fee to be spent if the UW still had issues with the application. You normally get to the point the application is agreed subject to the valuation then you authorise the valuation instruction.

Mortgage_99

kingstreet said:

Any decent broker wouldn't allow your valuation fee to be spent if the UW still had issues with the application. You normally get to the point the application is agreed subject to the valuation then you authorise the valuation instruction.

I just emailed my broker this “I was wondering if Halifax said that the mortgage was accepted at this stage subject to valuation coming back fine? Like have all the checks been carried out and it’s accepted as long as valuation comes back okay?”

and he responded this…

“They have not confirmed this no they may continue to underwrite after the valuation has been reviewed.

They have not asked for anything else but they have not told me it is agreed.”

I’m worried now as I am thinking why they would instruct a valuation and it’s been almost 2 weeks since it was instructed+2 weeks since it the underwriter finished asking for an employer reference which I provided , if there was to be something wrong with it.

Thrugelmir

Your won't be the only application in the processing queue. Volumes fluctuate accordingly timescales. You are only at the start of a much longer process. Save your energy. As the taxing part may well yet be to follow. 

Mortgage_99

My mortgage broker emailed saying I received the mortgage offer from Halifax today at 6pm!! Valuation was yesterday for anyone wondering valuation to offer was 1 day. Whole process took just over 3 weeks as they asked for additional documents which there was delays and delays instructing valuation as well. But So excited!!