Halifax mortgage timescale

Dk1989

Hi Imy mortgage broker has just submitted my application today with Halifax. Anyone know how long it usually takes to hear back if it’s been approved or not? Thank you 

Edi81

My offer was done within 48 hours. This was 2 months ago with low LTV, no debt on my part with a desktop valuation.

if they need a valuer to visit the property then you are probably looking at a few weeks. 

Dk1989

Thank you. We are currently renting the house we are in and we are looking to buy a new build so it would be pretty straight forward in that sense. We have a 15% deposit

K_S

@dk1989 Much faster than any other mainstream lender right now! 

If a physical valuation is required, that'll take whatever time it takes. The underwriting/verification will happen in parallel.

With respecting to underwriting/verification, until a couple of weeks ago it would usually be turned around in 1-3 working days. They're a teeny bit slower now due to a glut of applications but are still turning it around in a few days.

Dk1989

@K_S that’s great thank you. My house that I live in now I rent and its just been sold. The house we are looking to buy is a new build and still isn’t complete yet I’m not sure if this matters. I’m a first time buyer and have absoutely no idea what I’m doing here lol

Agojie22

Mine took 1 week and this application was submitted 4/10, FTB, took 48 hours to do the valuation.

K_S

Dk1989 said:

@K_S that’s great thank you. My house that I live in now I rent and its just been sold. The house we are looking to buy is a new build and still isn’t complete yet I’m not sure if this matters. I’m a first time buyer and have absoutely no idea what I’m doing here lol

@dk1989 The new-build matters to the extent that the valuer will require some info from the builders so that may add a bit of time depending on how quick the builders are to respond. I wouldn't worry too much, Halifax are great for new builds are their new-build products have a validity of around 12 months with no extensions required.

trakky14

we had to wait 4 weeks! Mainly because husband is self employed and they decided they wanted to do a physical valuation rather than desktop which added another 2 weeks to the wait. 

Charlwftb

I submitted me on 30/09 and valuation took place yesterday. Just waiting to hear the outcome from that now.

Hope it goes quickly for you! 

Dk1989

@Charlwftb was yours a straight forwards PAYE application? I think I’ll cry with nerves if I have to wait two weeks to hear anything lol 

Charlwftb

@Dk1989 yes it was. Still waiting....

Torturous