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  • FIRST POST
    • Crazy horse.
    • By Crazy horse. 8th Oct 16, 7:28 AM
    • 3Posts
    • 3Thanks
    Crazy horse.
    Halifax Halifax Halifax!
    • #1
    • 8th Oct 16, 7:28 AM
    Halifax Halifax Halifax! 8th Oct 16 at 7:28 AM
    Don't know where to start! Basically I have been self employed for years but during credit crunch of 2012 work was slow and was fed up so I went traveling. Ended up being away for three years and living and working in Australia fort two of those years. I had savings already and sent a good amount of savings back from oz. Since coming home I had a good first full year (March 2015-March 2016. And having another good year this year my accountant has projected at least 30k clear profit again. So I go to a broker and say I have good deposit and one full years books are there any lenders. He comes back and says really there are only two because your doing it on your own and you only have one full years accounts but the Halifax will do its and have agreed a mortgage in principle. So I have an offer accepted I am putting down 57.5k and a mortgage of 140k. The Halifax originally said 145k then just dropped by 5k! Halifax quickly take 355 pound off me to do survey and valuation everything comes back fine. My solicitor starts doing searches I have to pay them 300 deposit and sign a contract. Every thing going well, and then it starts. Halifax start coming up with problems. They start asking what I do for a job which is worrying at this stage as we have filled out loads of forms and had countless conversations on my occupation they then start asking for my p60 from my previous employer. Again we have to tell them that there is no p60 I have always been self employed but was living and working abroad for last 2-3 years. Now they have dropped again this time to 135k and are saying they want to see books from 2010 and 2011 and they need to be showing high 20's. Which they won't as I was still training up then and the credit crunch hit. We have tried explaining this but to no avail. We explained if I started stacking shelves in tesco five years ago then worked my way up would they expect me to still be earning the same money now?!! We have been upfront, honest done absolutely every thing they have asked and not tried to hide any thing. Now it looks like I'm going to lose the house, the£355 they were so quick to take off me plus around 1500 in fees to my solicitor as I've signed a contract. I'm absolutely distraught about losing out on the house and fuming that the Halifax seem to of just given the agreement out willy nilly then completely changed it. I understand it can change a bit but how can they agree to one years books and then just completely disregard that when I'm this far down the line. I'm putting down nearly a third off the value don't really see how they can lose. Their system and communication with each other is a joke. Sorry for long post just so angry and dissapointed. Any advice on if can at least get my survey money back?
Page 1
    • csgohan4
    • By csgohan4 8th Oct 16, 8:38 AM
    • 2,572 Posts
    • 1,585 Thanks
    csgohan4
    • #2
    • 8th Oct 16, 8:38 AM
    • #2
    • 8th Oct 16, 8:38 AM
    Paragraphs .....
    • Crazy horse.
    • By Crazy horse. 8th Oct 16, 8:57 AM
    • 3 Posts
    • 3 Thanks
    Crazy horse.
    • #3
    • 8th Oct 16, 8:57 AM
    • #3
    • 8th Oct 16, 8:57 AM
    Great reply sad act.
    • Funny old game
    • By Funny old game 8th Oct 16, 11:24 AM
    • 177 Posts
    • 49 Thanks
    Funny old game
    • #4
    • 8th Oct 16, 11:24 AM
    • #4
    • 8th Oct 16, 11:24 AM
    Based on you being high risk, 1 yr and previous foreign resident (a good LTV helps but is the weaker of the 3 here), you should have been advised to lower property expectations as the app will be scrutinised to the 9th degree as opposed to straightforward cases.

    Not Halifaxs fault here, you should be grateful they even considered you based on a horrifically tough profile to place.

    You should have been advised to not buy anywhere near your Max potential in case the loan size was reduced.

    A complaint will take weeks to resolve, and as it's not really Halifax's issue, the vendor would have moved in anyhow.
    • Westminster
    • By Westminster 8th Oct 16, 11:36 AM
    • 516 Posts
    • 325 Thanks
    Westminster
    • #5
    • 8th Oct 16, 11:36 AM
    • #5
    • 8th Oct 16, 11:36 AM
    With a potential borderline case, perhaps next time just do the valuation and get the full mortgage offer before instructing searches etc on your next purchase?
    • Crazy horse.
    • By Crazy horse. 9th Oct 16, 11:08 AM
    • 3 Posts
    • 3 Thanks
    Crazy horse.
    • #6
    • 9th Oct 16, 11:08 AM
    • #6
    • 9th Oct 16, 11:08 AM
    My Mrs is sleeping with the postman. Should I be grateful to him to? Grateful to the Halifax?!! I would of been grateful if they had just been honest from the start.

    I knew my case was tough that's why I said to my broker I know it's long shot but are there any out there he said he had spoke to Halifax at length and they would.

    Way down the line and after taking my money they say the opposite to every thing we discussed before.

    And I had no choice on solicitor I couldn't hold off. Soon as offer was accepted purple bricks wanted to contact my solicitor. Would of lost it straight away if I said I didn't .

    Nice paragraphs there for csgohan.
    • amateur house
    • By amateur house 9th Oct 16, 7:36 PM
    • 77 Posts
    • 66 Thanks
    amateur house
    • #7
    • 9th Oct 16, 7:36 PM
    • #7
    • 9th Oct 16, 7:36 PM
    Sorry to hear you have been messed about by the Halifax. I can't offer any advice, but it does seem odd to me that they would do the survey before you got a formal mortgage offer. I had my mortgage offer finalised before the lender instructed the surveyor, though it did take over 2 weeks. I hope you get things sorted out soon.
    • Thrugelmir
    • By Thrugelmir 9th Oct 16, 9:09 PM
    • 51,279 Posts
    • 43,081 Thanks
    Thrugelmir
    • #8
    • 9th Oct 16, 9:09 PM
    • #8
    • 9th Oct 16, 9:09 PM
    Sounds as if you have jumped the gun on the basis of a DIP. Until a formal mortgage offer is made you have no mortgage. Never wise to instruct a solicitor until such time as there's certainty.

    Survey's are contracted out. That's why the fee is charged upfront. As it's a disbursement to the lender with no profit being made.
    “A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against ‘a rainy day’.”
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