This is, however, dependant on the outcome of your mortgage valuation. Does anyone have any experience of this? Waiting for mortgage offer after receiving valuation report. I was informed a change over to our pending purchase would be straightforward. 4.Complain to the FOS because if mortgage companies decline folks at the 11th hour and still rake in fees i.e. Anonymous. It is not a survey of condition and is not designed to list individual property defects. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. A copy of the declaration is enclosed for your information. Avoid Halifax mortgage Written on: 30/04/2018 by Cdne (1 review written) After being Halifax customer for 11 years, top credit score, never missed a payment ever and took big loans in the past that were paid on time, halifax turn me down saying that couldn't verify my income. They overturned the decision. I've just been told our mortgage offer has been declined after it was previously approved and we have been allowed to exchange contracts! said the decision was subject to the mortgage remaining affordable and there being no material change in the property valuation. We are pleased to tell you that your application has been approved.Your Mortgage Offer has been posted to you and your solicitor. Receiving your mortgage offer. After applying through Halifax for our mortgage several weeks ago we are still awaiting our offer We initially pulled out of our first property application due to poor survey results. 3/6/2016 at 12:59 PM. The valuation is then received within five business days. Revaluation fees. But this gives you no protection at all. Saying that the solicitor acting for the person buying the house should have also been made aware when they approached Santander for the title deeds. This might happen if the surveyor has down-valued the property. With exception to remortgages and additional borrowing, when you apply for a mortgage, we'll ask you to choose from two levels of inspection and report. Thanks for the advice. The offer is made by the lender based on your loan request, property value, and your mortgage product. If your mortgage is declined at this stage, its likely to be because something on the valuation report has either down-valued the property or flagged up concerns that make the lender question its suitability as security. If the bank is happy with the details of the valuation, they will produce your mortgage offer within 48 hours. We often link to other websites, but we can't be responsible for their content. Your lenders valuation report only confirms the value of your property so you may want to do a structural survey at the same time. You should keep them for your own records. A mortgage offer will only be issued once we have confirmed that the evidence supplied meets our criteria. During the Covid-19 pandemic, for example, lenders agreed to help buyers who had exchanged contracts by providing mortgage offer extensions of up to three months. savings and credit history will all come under scrutiny. When this offer will be made is entirely dependent on the mortgage lender. We had our mortgage with Halifax approved subject to valuation on 25/10/13. A valuation is undertaken in order to confirm your property is correctly priced and is in suitable condition for mortgages to be taken out against it.