Halifax

leemuddywaters

Anyone know if Halifax only check three years of credit history when applying for a mortgage with them?

sgh1976

leemuddywaters wrote: »

Anyone know if Halifax only check three years of credit history when applying for a mortgage with them?

The initial check wil cover 3 years. For the full check they will look further if you haven't lived in your current address for 3 years. It also depends on what level of rating you get from Halifax - A, B or C

This is how it worked for me.

leemuddywaters

sgh1976 wrote: »

The initial check wil cover 3 years. For the full check they will look further if you haven't lived in your current address for 3 years. It also depends on what level of rating you get from Halifax - A, B or C

This is how it worked for me.

Did you recently apply through halifax, can you explain in a bit more detail? Reason I ask is I have a default on my file from 2005 so Im wondering will they pick this up when doing a search, How is level A, B & C Desiphered by them?

Thank you

sgh1976

I applied back in Aug/Sept via a IFA

My knowledge is limited, so I am sure some others on here will correct me or fill in the spaces.

The A, B, C scoring. If you get a C you have to provide a lot of details, which will cover, I presume, the last 6 years. Loads of paper docs etc

I had a B rating. I had to provide no extra documents and was electronically verified (I have a Halifax bank Account so that may have helped)

I presume A is even easier.

On the initial application, we had to say where we had lived for the last 3 years. We had lived in the same place (just!!). Our IFA said if we had moved in that period we would have to provide proof of those addresses and the search could cover them.

I had a CCJ on my account from 2004........I didn't know about it and during the mortgage process it was removed as it was an error. It had been linked to my account to an address I had never lived at. RBS had declined me on the strength of this just a week before.

happybroker

leemuddywaters wrote: »

Anyone know if Halifax only check three years of credit history when applying for a mortgage with them?

They will take all information in the credit report into account and if there is anything detrimental then this will be looked at by an underwriter and considered along side all the other information or simply declined.

take your credit report to a good whole of market broker who should have a good idea of who to apply to. They will also have contacts that they can talk a possible application through with.

leemuddywaters

sgh1976 wrote: »

I applied back in Aug/Sept via a IFA

My knowledge is limited, so I am sure some others on here will correct me or fill in the spaces.

The A, B, C scoring. If you get a C you have to provide a lot of details, which will cover, I presume, the last 6 years. Loads of paper docs etc

I had a B rating. I had to provide no extra documents and was electronically verified (I have a Halifax bank Account so that may have helped)

I presume A is even easier.

On the initial application, we had to say where we had lived for the last 3 years. We had lived in the same place (just!!). Our IFA said if we had moved in that period we would have to provide proof of those addresses and the search could cover them.

I had a CCJ on my account from 2004........I didn't know about it and during the mortgage process it was removed as it was an error. It had been linked to my account to an address I had never lived at. RBS had declined me on the strength of this just a week before.

Thanks.. My wife has had a halifax account for 15 years now, do they not do a full credit check though? Sorry for all the questions.

ibz75

I applied on 29 October 09 (full application). They did a credit search and the computer said 'YES'. I was given an 'A Rating' - which meant I only had to provide my last month's payslip - reason for this could have been because I have my salary paid into the account (last few years). I also got a slightly better APR than the one advertised (0.5% less), again could be because of 'rating'. From application to completion took about 4 weeks (FTB and vacant property) which was impressive. During the 4 weeks my credit file was searched an additional 5 times (unrecorded enquiry) since the full application and mortgage offer.

Hope this helps.

leemuddywaters

ibz75 wrote: »

I applied on 29 October 09 (full application). They did a credit search and the computer said 'YES'. I was given an 'A Rating' - which meant I only had to provide my last month's payslip - reason for this could have been because I have my salary paid into the account (last few years). I also got a slightly better APR than the one advertised (0.5% less), again could be because of 'rating'. From application to completion took about 4 weeks (FTB and vacant property) which was impressive. During the 4 weeks my credit file was searched an additional 5 times (unrecorded enquiry) since the full application and mortgage offer.

Hope this helps.

Thanks, Im guesing your credit rating is pretty good? I have heard the hailfax only search three years history though, my wife has been banking with them for 15 years and has an excellent credit history.