Please Help - Morgage Offer Withdrawn

beecher

I think lopbri makes a good point. Check your experian file too in case it has anything on it which equifax missed

stagey_2

Charliebros wrote: »

According to Equifax anthing above 475+ is excellent so with a score of 530 that counts as excellent in my book? If it is to do with the propert which is new build then why will they not let us know?? We are not sure if it worth trying another lender or letting the sales and purchase fall through?

I think someone said earlier to let the sale go thro - you can rent and at least you have ££ in the bank to go forward with another house - and would be in a better position to do so. In the meantime contact those already mentioned - it is immoral in my view that a company such as the Halifax can take you to the brink like this - and hopefully you will get your overhead costs back -

disney_cjd

Charliebros wrote: »

Thanks for all your advice guys. The Halifax have now confirmed that they have withdrawn their offer and will not give us any reason for this. In desperation I have even checked our credit files and they are excellent with scores of 530. We have decided to apply for a mortgage with someone else and have just sent our credit files through to a broker. The buyers have said they are happy to hang on until we can get a mortgage. I am so disgusted in the way Halifax have treated us and will be in touch with our MP as advised. Thanks again, will keep you all posted xx

Write to the Halifax and ask for a Data Protection Data Subject Access request and enclose a cheque for a tenner.

They will then HAVE to give you all papers that concern you. Its one way of finding out what its going on

Cheers

dunstonh

Write to the Halifax and ask for a Data Protection Data Subject Access request and enclose a cheque for a tenner.

They will then HAVE to give you all papers that concern you. Its one way of finding out what its going on

That wont work. They have no requirement to give data reflecting commercial decisions.

Can the op answer the following questions?

1 - What was the loan to valuation?
2 - What was the income multiples?
3 - have you made any application for credit (whether proceeded with or not) in the last month or two?
4 - How long ago was the offer letter issued?

looster

I really feel for you - so sorry this has happened to your family. Just a thought reading through the posts - did the new carpets go on finance?
L

Bromley86

dunstonh. In answer to (1), 76% at agreed purchase price (so might be worse than that).

I think this is it. It was 75.6% when Halifax require 75%. If it works the way some have suggested, the carpets etc. may have been the deciding factor, but then why not say?

Perhaps the Halifax made the original offer based on a rounding error? That might explain why they're not giving a reason.

Charliebros

The new carpets were purchased through Persimmon who are fitting them, we pay upon completion so no loan was taken out to pay for when we applyed for the mortgage we got a bit extra to pay for this and fees. This was all done in the application. No applications for credit have been made in the last 2 months whatsoever. Our income is not a problem as they actually offered to lend us more then we took in the end. We are extremely careful people when it comes to money / finance. Our MP has now made contact with the Halifax which we are really pleased with. We have spoken to their customer relations team who are saying that even THEY do not know the reason they have withdrawn our offer. I am at a complete loss with it. I think we are going to try and apply with HSBC who my husband has banked with for years, in the meantime I am unsure whether to start unpacking all the boxes and try to enjoy Christmas for the sake of my 4 year old son. Thanks for all your support, it is really appreciated x

Charliebros

Ps the offer letter was issued less than 3 weeks ago ..

m1ntie

From what I have heard HSBC are VERY slow processing applications.

Leon_W

Not wishing to put a downer on what must already be a distressing situation, you often get a question on any mortgage application form which asks "Have you been refused a mortgage elsewhere etc etc..."

Do you answer truthfully or try and wing it ? You can bet any lender will be ultra cautious if you answer "yes", seemingly through no fault of your own.

Best of luck and hope it all turns out OK.