Is my mortgage a done deal??

slimothy

Hi

Im a first time buyer and have applied for a mortgage through Halifax. Everything has gone smoothly so far. I've been told that Halifax are just building a business case to go to the underwriters, after which i'll get the formal mortgage offer.

My question is, has anyones mortgage been refused at this point? Does anyone know how common it is for one to be refused at this late stage in the mortgage process? I'm keen to get everything sorted and am perhaps a little paranoid that I won't get the offer.

thanks

herbiesjp

Why are Halifax building a business case for your application? Do you not meet their criteria on some point?

Hopefully they are agreeing this before you have incurred any costs i.e. valuation, solicitors etc.

Any lender can refuse any mortgage application at any point - however it is pretty rare to go all the way down the line only for the lender to pull the plug

hopefulfooluk

You'll normally find that if the lender gives you agreement in principle, then they have already credit scored you on the info you have given and are just awaiting payslips etc to prove you earn what you say you earn. They'll also be waiting on the results of the valuation of the property.

So if you've got AIP, the survey goes well (which it probably will do!) and you've not lied on the application, then I see no reason why you wouldn't get the formal offer soon :-)

Good luck and don't worry!

Chris

payless

I would take the term "having to build a case for the underwriters" - as likely meaning it failed the AIP or does not meet normal criteria, but branch is putting in an appeal