Applying and what happens next
After you've made your mortgage application, we'll move through the following process to set up your mortgage.
- You make your full application
- What happens if I get declined?
- We issue your mortgage pack
- We process your application
- We arrange for the property to be valued
- Your mortgage offer is issued
- Your mortgage completes
- Your first payment is made
You make your full application
Whether you started your application online, by speaking to one of our mortgage experts over the phone or visiting a mortgage expert in your branch, your application will start the same way. And we'll confirm whether we’re able to proceed with your application.
What happens if I get declined?
We accept 8 out of 10 mortgage applications*, but sometimes applications are declined. This doesn't mean that you won’t be successful if you apply again with us in the future. And if you are declined, we promise to help you to understand why, to offer you alternatives, and to enable you to improve your chances next time.
Find out more about the reasons for a declined decision.
We issue your mortgage pack
When we've confirmed that we can proceed, we'll issue your mortgage pack. This will include a copy of the Key Facts Illustration you accepted, a summary of the information you’ve given us and a request for documents that we’ll need to see.
Processing of your mortgage application will commence on the next working day.
When we begin to process your application we’ll:
- Check the details which have been keyed
- Process any fees that need to be paid
- Contact you to request any additional or outstanding information or documentation
- Instruct the property valuation.
If we’ve requested to see any documentation, it’ll speed the process up if you’re able to take it to your local branch as soon as possible.
We arrange for the property to be valued
While we’re processing the rest of your application, we’ll make arrangements for a valuer to value the property. The valuer will contact the people who have access to the property to make an appointment to carry out the valuation. The valuation can impact on the loan-to-value of your new mortgage and may in turn affect the products you’d be eligible for.
When we’ve got all the documentation we require, along with the valuation report, we’ll make our lending decision for your mortgage. If we approve your application, we’ll then issue copies of the mortgage offer to you and your conveyancer.
The conveyancer will carry out various legal checks on the property, known as searches. They will also make sure they are happy with the legal side of the property generally. If there are no concerns then the conveyancer will contact us to confirm when you want your mortgage to start, and the date they'll need the funds to be released.
On the requested date, we'll send the funds to the conveyancer who will complete the transaction.
When the mortgage has completed, we’ll send you a letter confirming what your first payment will be, and when we’ll require it. Your subsequent payments will be for the amount we tell you, you will pay them on the date each month you requested.
Or take a look at our mortgage range:
*Based on internal Halifax application data from 02/01/2011 - 31/07/2011
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
