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  • FIRST POST
    • Killtrox
    • By Killtrox 9th Jan 18, 8:41 PM
    • 4Posts
    • 3Thanks
    Killtrox
    Mortgage with defaults and DIP ??
    • #1
    • 9th Jan 18, 8:41 PM
    Mortgage with defaults and DIP ?? 9th Jan 18 at 8:41 PM
    Hi

    I'm currently trying to apply for a mortgage with my partner and the whole ordeal has me beyond stressed.
    I have a default registered Jan 2013 which was for an overdraft of 3.3k with halifax sold the following year to 1st credit, i have made no payments to 1st credit so the default remains unsatisfied (currently in the process of working out the best cause of action)and my partner has good credit history
    We are applying for a mortgage on a new build with help to buy and the developer is also agreeing to add another 5% deposit so total of 30% deposit according to their advisors we have been given a DIP with Halifax and therefore Halifax and know about the default (via soft search) so I shouldn't worry about the default causing an issue.

    Just wondering if there are any success stories from similar cases and also should the DIP make me feel a little more hopeful ?
Page 1
    • YHM
    • By YHM 9th Jan 18, 9:45 PM
    • 439 Posts
    • 154 Thanks
    YHM
    • #2
    • 9th Jan 18, 9:45 PM
    • #2
    • 9th Jan 18, 9:45 PM
    Halifax work on a credit score basis, so as long as your credit score fits within their benchmarks, you should be fine.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Killtrox
    • By Killtrox 9th Jan 18, 9:54 PM
    • 4 Posts
    • 3 Thanks
    Killtrox
    • #3
    • 9th Jan 18, 9:54 PM
    • #3
    • 9th Jan 18, 9:54 PM
    I'm currently in the fair section on my experian credit score, I hope to God we get an accept and there's no issue with the default at this stage.
    • Thrugelmir
    • By Thrugelmir 9th Jan 18, 9:55 PM
    • 56,725 Posts
    • 50,095 Thanks
    Thrugelmir
    • #4
    • 9th Jan 18, 9:55 PM
    • #4
    • 9th Jan 18, 9:55 PM
    and therefore Halifax and know about the default (via soft search) so I shouldn't worry about the default causing an issue.

    Just wondering if there are any success stories from similar cases and also should the DIP make me feel a little more hopeful ?
    Originally posted by Killtrox
    You've defaulted on the Halifax previously and you are intending to apply for a mortgage with them!

    You've been poorly advised. Unless you've failed to declare this fact to your mortgage advisors.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • hippychick1
    • By hippychick1 10th Jan 18, 7:53 AM
    • 576 Posts
    • 986 Thanks
    hippychick1
    • #5
    • 10th Jan 18, 7:53 AM
    • #5
    • 10th Jan 18, 7:53 AM
    We had a DIP with Halifax 2 years ago. I had an unsatisfied default of £1800 from 5 1/2 years previous, which Halifax knew about. We were declined on full application due to this. We did only have a 15% deposit though. Perhaps with 30% deposit you will be ok.
    Proud to be dealing with my debts
    • csgohan4
    • By csgohan4 10th Jan 18, 8:05 AM
    • 4,117 Posts
    • 2,582 Thanks
    csgohan4
    • #6
    • 10th Jan 18, 8:05 AM
    • #6
    • 10th Jan 18, 8:05 AM
    You need a broker who is specialist in adverse credit, but generally expect to pay for them.


    You could get a free broker, but generally you get what you pay for
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Killtrox
    • By Killtrox 10th Jan 18, 10:06 AM
    • 4 Posts
    • 3 Thanks
    Killtrox
    • #7
    • 10th Jan 18, 10:06 AM
    • #7
    • 10th Jan 18, 10:06 AM
    We have been given the details of a mortgage advisor from a family friend who has been successful with said broker in getting mortgages on a couple of their properties whilst having a few defaults against their name so we are seeing him today.
    • GSPGirl
    • By GSPGirl 10th Jan 18, 8:43 PM
    • 48 Posts
    • 5 Thanks
    GSPGirl
    • #8
    • 10th Jan 18, 8:43 PM
    • #8
    • 10th Jan 18, 8:43 PM
    How did you get on ?
    • Killtrox
    • By Killtrox 12th Jan 18, 9:07 AM
    • 4 Posts
    • 3 Thanks
    Killtrox
    • #9
    • 12th Jan 18, 9:07 AM
    • #9
    • 12th Jan 18, 9:07 AM
    Spoke with our advisor last night and he said Halifax have requested payslips however our accountants messed my payslips up and had to re roll them to correct them so I think Halifax are requesting an Employers reference.
    Our MA seems to think all the necessary checks have been done so the default shouldn't be a problem now (hard check also showing on experian).
    Hope it all goes through, feel literally sick sat waiting for the news.
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