Mortgage Advice Needed for FTB

angels01

Just a little update….

Husband has spoken to FA. He stated that the offer has an error on there and that he had agreed with the Halifax that we would pay off the loan but the CC would be kept running (I assume this was following a query they raised??). He stated that he has recorded evidence of this agreement and he will be taking this up with the Halifax once he receives his copy of the mortgage offer (he currently has a copy that we faxed to him).

The FA has also said for Husband to pay off the loan in full, which he is doing so tomorrow and we are to inform the Solicitors that we have received our offer and state the loan is paid off (after husband does this tomorrow) and should they need confirmation of the conversations between the FA and Halifax they should call him.

Does that sound genuine?

herbiesjp

You need written confirmation from Halifax that they are ok with loan being paid off and CC remaining before you do anything.

betmunch

Halifax should issue a new offer for you following your FA bringing it up with them

Dont know what the recorded evidence might be. The only thing that matters is what was put on the application form. I spose you might refer to this as "recorded evidence"?

Get a receipt for the final loan payment and send that to the solicitors.

Dont think the solicitors will have any need to speak to your FA, they need a new offer which doesnt state the CC needs paying. Once they have that its full steam ahead and away you go

angels01

Thanks Herbie and Betmunch.

I will speak with husband later about your advice and see what he thinks. You've been much help to both us and thank you again.

with regards to FA stating we pay off loan under the "further conditions" in our offer it states:

Before you take out a mortgage, you must pay off all the money you owe to - HSBC under account number unknown

Am I correct in thinking this is the loan that the FA has stated for us to pay? (and yes the loan & CC are from hsbc).

The FA stated that where is states account number unknown it should have had the loan account number there!

Fingers crossed?

angels01

To update further...

Visited Solicitor today to give them a little update on situ. While there I asked for some advice. They advised me to phone Halifax direct and query with them what "account unknown" they meant. So, husband done this and we were told that he needs to pay the CC off in full for Mortgage to go through. The loan is not taken into account due to it running out soon.

So, FA basically fibbed to us! Husband phoned FA after Halifax and he said he has it all written down that they agreed for loan to be paid off and leaving the CC running, which makes him in a better position to meet their affordability criteria. FA told husband that he will take this up again with Halifax and request them to send out the new offer.

We are now VERY dubious of this so, my husband is gonna ring back the Halifax tomorrow and see if FA had contacted them and if things are sorted (to an extent). If not, we gonna cut our losses and pull out as we cannot afford to pay the CC off in one go atm. We can't go looking for another deal either as that means more costs i.e. surveys etc. So, we will pay off the loan and put all disposable income into paying off the CC and try save some more cash for if/when we find another perfect little house for us.

Am feeling so angry over this as ppl puts their trust into the advice of a FA and this kind of thing happens. :mad:

Anyway, thank you all so much for your advice. I have appreciated it very much.

betmunch

Angels01,

Did you get everything resolved?

BetMunch

angels01

Heya Betmunch.

Yes Sorry I forgot to log back on here. Everything was solved, the offer was changed indicating we were keeping the credit card.

Picked the keys up last Friday and we actually move in on Monday. Been a hectic week ferrying most of our stuff to new house, but will defo be worth it.

Thanks again for your advice and to all the other people's advice on here too no will know how much this thread helped us!

Angels01