Awaiting Mortgage offer for over 10 days

[cablarnshowntone]

They certainly are a busy office - not sure I understand this bit though? Handovers?

Regardless, Halifax are amongst the quickest around at present in processing terms, with the average mortgage offer taking c.4 weeks, but it certainly isn't uncommon to get a mortgage offer in 2/3 either.

Most lenders suffered badly with the changes as a result of MMR in April, however Halifax appear to have got back on track quicker than most, and are now running at around the same processing timescales as pre-April.

Handover is where they exchange information on each application. So the 'handover' a batch of x amount of application information.

Anyway, turns out my mortgage got accepted after 10 working days so a quick turnaround from Contactor Financials.

[Daventry]

They say that Halifax has decided to assess the documents before instructing the valuation as they already did with my first application.

[Mark McBurney@CMME]

They say that Halifax has decided to assess the documents before instructing the valuation as they already did with my first application.

Hi,

On occasion certain applications will be pulled for audit (at random, don't worry about your particular application), and with these applications they will delay instruction of the survey until after the initial audit.

Nothing to be unduly worried about, I wouldn't think.

[Daventry]

Offer arrived by post this morning!

It's odd because CF chased up this morning and they weren't told the mortgage had already been approved. And the letter it's dated on 4th August.

Anyway now fingers crossed and wish for the deal to complete soon!

[Mark McBurney@CMME]

Offer arrived by post this morning!

It's odd because CF chased up this morning and they weren't told the mortgage had already been approved. And the letter it's dated on 4th August.

Anyway now fingers crossed and wish for the deal to complete soon!

Good news!

You got there in the end

[scaleup]

They don't charge a fee.I would never recommend them, my experience with them has been terrible

I had the same experience. Too good to be true is the description I can think of.

[rocktronAMP]

Offer arrived by post this morning!

It's odd because CF chased up this morning and they weren't told the mortgage had already been approved. And the letter it's dated on 4th August.

Anyway now fingers crossed and wish for the deal to complete soon!

Glad you made over the second of the finishing lines

PS: If you were still looking for another broker, I would have suggested Power Mortgages, because they helped me over the line December 2014 - January 2015

[Freelancer Financials]

Just thought i'd pitch in here and say that it is pretty normal to expect 3 -4 weeks for the mortgage application to go through with Halifax at the moment. This is mainly due to the new BoE rules requiring closer scrutiny of applications by the underwriters and partly due to the volume of applications.

I am personally also being led to believe that my papoerwork is in good order which means that I may see an offer come through earlier than the expected 3 -4 weeks. The dury is still out on this but my next update is due on Monday and my applicatin went in to Halifac on the 9th July .

Regarding communication with Contractor Financials, I think it is sensible to say that they are a busy office and as such to expect immediate responses to emails and phone enquiries is probably a bit unreasnable. For example it takes them a few hours to do handovers on the phone with the lenders due to the volume of processing presently.

So you think it is unreasonable to expect an immediate response to emails and phone enquiries? The most important purchase that you're likely to make? I think it is essential that clients get an immediate response, irrespective if they're paying a broker fee or not.

And by the way, Halifax is the go to lender when you need urgency and speed. They're super fast at processing contractors applications (as long as it has been packaged fully and correctly). Typically it takes a day to get a decision in principle and 3-4 weeks to go to mortgage offer after full application submission. If you're remortgaging it's even quicker, under one week.

Halifax have really fine tuned it's application processing systems for contractors, they've made it really easy for specialist mortgage brokers who know what their doing.

Now if it was Virgin Money or Leeds Building Society, I can understand it taking longer, as they're a lot slower but NOT Halifax.

[AnotherGuy]

Which rates are you people getting nowdays?

I was told by a broker, few weeks ago:

25% Deposit – 2.49% 2 year fixed rate with no arrangement fee
25% Deposit – 3.34% 5 year fixed rate with no arrangement fee


Halifax. Less than 75% LTV.

[Freelancer Financials]

Which rates are you people getting nowdays?

I was told by a broker, few weeks ago:

25% Deposit – 2.49% 2 year fixed rate with no arrangement fee
25% Deposit – 3.34% 5 year fixed rate with no arrangement fee


Halifax. Less than 75% LTV.

The rates have got better:

25% Deposit – 2.14% 2 year fixed rate with no arrangement fee
25% Deposit – 2.94% 5 year fixed rate with no arrangement fee

They're constantly changing!