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Halifax Mortgage Promise
MarieC5575
Posts: 23 Forumite
Hi Everyone
I just wondered if anyone could shed any light on what the benefit of getting a mortgage promise from the Halifax. We recently applied for a mortgage from HBOS and were issued with a mortgage promise which was subject to proof of income and the information we had supplied being correct. We were advised to find a property, put an offer in, have it surveyed etc. After doing all this and selling my own house (due to conclude really soon) we have found that our mortgage application isn't guaranteed and will have to be assessed by a processor before underwriting and that we won't necessarily get the mortgage. This has left us really stressed and worried. After speaking to HBOS call centres on several occasions and getting nowhere, I went into my local branch where a very nice mortgage advisor explained to me that our application passed the credit score as a C and this means that it is subject to a business file being put forward to underwriters.
Therefore my questions are: what is the point in the Halifax issuing mortgage promises when they aren't actually promising anything and why can't they issue the promise (in the case of C passes) with an advisory note stating that your application is subject to a successful business case being put forward. If I hadn't approached my local branch for more information, I would have been none the wiser. Can anyone help????
I just wondered if anyone could shed any light on what the benefit of getting a mortgage promise from the Halifax. We recently applied for a mortgage from HBOS and were issued with a mortgage promise which was subject to proof of income and the information we had supplied being correct. We were advised to find a property, put an offer in, have it surveyed etc. After doing all this and selling my own house (due to conclude really soon) we have found that our mortgage application isn't guaranteed and will have to be assessed by a processor before underwriting and that we won't necessarily get the mortgage. This has left us really stressed and worried. After speaking to HBOS call centres on several occasions and getting nowhere, I went into my local branch where a very nice mortgage advisor explained to me that our application passed the credit score as a C and this means that it is subject to a business file being put forward to underwriters.
Therefore my questions are: what is the point in the Halifax issuing mortgage promises when they aren't actually promising anything and why can't they issue the promise (in the case of C passes) with an advisory note stating that your application is subject to a successful business case being put forward. If I hadn't approached my local branch for more information, I would have been none the wiser. Can anyone help????
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