Credit check with your current provider ?

swiper

Hi,

I've currently got a mortgage with the halifax for £113,500, LTV 73%. We have never missed a payment or been late but had a 2 month holiday payment 2 years ago. The fixed deal of 4.15% is due to run out at the end of september and both me and my partner have both got defaults as we are currently on a debt management plan for our unsecured debt.

Will they credit check us if we apply to re-fix the rate ?

Thanks

Thunderbird_2

Short answer, YES.

minimike2

No....Halifax do not re-score you to arrange a product transfer at the end of your deal.

Toughluck

Correct minimike.

Product transfer would NOT involve further scoring. Additional advances yes of course they would. If you needed further money in the future you are going to have to look at non-conforming secured loan lending if you take another deal off Halifax. (I am presuming the defaults are in excess of £1,000 on this)

Qual123

If you stick with halifax and use the product transfer you will be fine.

Thunderbird_2

Thanks for correcting the wrong answer i gave to the OP.:o

PompeyMark88

Hi
Am in same boat as swiper...I am on DMP and have defaults.
Our mortgage has had no missed or late payments in the 2 and a half years we have had it.

Is this the same with all providers about credit checks when apply to re- fix the rate?
Our fixed term deal runs out in 8 months. and provider have contacted us to remind us and let us know what the rate will be if we don't do anything.

We are happy to stay with our current provider, and want to ask for a product transfer to another fixed rate deal.
We are happy wth the provider, and am probably naively assuming that they will want to keep their customers.

Obviously, although my partner has a very very good credit record, mine is not good, and think moving to a new provider will be difficult

Other questions...
Do providers go for this?
Would there be a fee?

minimike2

Who is your lender?

PompeyMark88

Hi Mike

We are with Accord Mortgages

minimike2

Accord are fab at customer retention. Did you orignally have a prime product with them or a "credit repair" product? With credit repair, they guarantee to give you a prime product at the end of your deal providing all your payments have been made on time.

PompeyMark88

Hmm...not 100% sure, I wasn't on DMP or have defaults when we took out the mortgage, but due to having 2 individual personal loans totalling over £40,000 debt (from student days and family problems) had been rejected by Nationwide. Didn't have a problem getting the mortgage with Accord.

All our payments have been on time, and plan to make some offset payments before deal ends.