Halifax and lending

gemmacantan1

Hi all,

I have 5 defaults that have all been satisfied and were raised more than 3 years ago. All my payments have been up to date and my DH has an excelllent credit score. Mine has improved since satisfying my defaults and is only a few points away from a 'fair' profile. I know this means squat when it comes to lending critrira. But I wanted to complain about a halifax mortgage adviser. She was one that worked out of an estate agency branch and offered to help me. I gave her our situation and she knew about the defaults and she said she would take a 'look' at the market and do some sums. I waited and waited and heard nothing for over a week so contacted her, she was out of the office but a nice lady advised me that we didn't pass the credit score! No where was mentioned in our first conversation that she would do a credit score! To make matters worse she'd applied to Abbey who have strict lending criteria and who we'd already mortgaged with!

Anyway waste of my time so I contacted our previous mortgage advisor who assured me that although the lending was tougher (this was back in August) she would take a look. We have a 20% deposit which we increased from 15% and want to borrow roughly £140k max. She was helpful and said she'd let me know. She didn't run a credit score but asked for a copy of my credit report which I forwarded. She said the defaults had been satisfied and that they had been raised over 3 years ago so that gave us more options. I'm not to fussed about the interest rate as I know we aren't going to get the average 6.49% but getting a mortgage at all would be nice! She went away and said she had some sums from HALIFAX! I was speechless telling her that I wouldn't pass their credit score and she assured me that because the defaults had been satisfied and raised over 3 years ago that they would accept us. I'm still not sure. I spoke to a friend who believes she's barking up the wrong tree.

Nothing's happened yet and she hasn't started the application but what are the chances of it actually being okay? Does anyone have any idea? I'm not positive to be honest.

Any advice would be great

Thanks

Gemma

_Andy_

Hi Gemma

Has she actually done a decision in principle with Halifax?

TEDDYRUKSPIN

_Andy_ wrote: »

Hi Gemma

Has she actually done a decision in principle with Halifax?

Most likely be a credit enquiry check. Without a signature, the mortgage adviser would not have carried out a full check anyway.

You can see this on your credit report.

As for the satisfied defaults. Only time will tell. You will have to process a full application as normal and this will go to the underwriters. They will assess everything on what you have now, affordability, and obviously risk.

gemmacantan1

_Andy_ wrote: »

Hi Gemma

Has she actually done a decision in principle with Halifax?

No I've asked her to hold on for a month so I could clear my credit card balance and have it appear on my credit profile. Every little helps.