Mortgage application accepted, will there be an further credit searches?

Thrugelmir

Mavis_Mavoid wrote: »

CCJ last week which I should not have had and has been entered by default

My solicitor has been dealing with it but missed the court deadlines. Judgement was entered against me by default.
I have since sacked my solicitor

I could pay it off in full within the 28 days and it will go away but I dont owe the money and it is for a substantial amount, or I can apply to get it set aside.

Both these options take time which I havnt got because of the critical nature of the house purchase. The CCJ is showing on my previously perfect file.

Did you miss the deadline as well?

Mavis_Mavoid

To Wutang-
You seem to be implying you think it correct that I have been landed a CCJ by the legal system for an incorrect amount that I don’t owe when I have done my best to deal with it honourably but been let down by the very same legal system I have employed to defend it? I don’t think so!

I could have paid it at any stage but it the court papers were served incorrectly and for an amount I didn’t owe. That’s why I gave it to my solicitor to deal with.

To Thrugelmir -
Yes effectively I missed the deadline also but I was not made aware of the new court date that had been set, otherwise I would have made sure someone turned up, even me if necessary, to deal with it. I am fully aware of the importance of all this and that it is better to not get these things in the first place rather than try and deal with them afterwards., especially in the middle of a complicated mortgage application.

It shouldn’t have happened but it has and now has to be dealt with. Obviously I have issues with the solicitor but these can wait.

To Danny - at least back on track with my original question-

It is not that simple unfortunately. We had an offer in January with conditions that were not suitable. We renegotiated and have been promised a revised offer if we could satisfy a set of conditions. We have been credit checked again at the end of Feb (prior to getting the CCJ and after the original mortgage offer) which I hope is related to the new offer but I cant be sure. We are now in a position to meet their conditions but I am wary of asking for the new offer in the current situation The problem is we need to have proof of funding to conclude negotiations with the vendor and seal the deal and they have put the house back on the open market. I am confident I can loose the CCJ before we need to draw down the mortgage, but I could do with knowing whether they will definitely search again or not before issuing the revised offer. There is no one you can directly talk to about it, no direct access to the underwriters, just the faceless case number through my (excellent) broker. The whole thing is complicated enough already without this

As you can imagine it couldn’t have come at a worst time and I am devastated.

It would be best to resolve this completely before proceeding further but I feel I do not have the time to wait.

getmore4less

Did you notify that there is a disputed debt with the original application?

Mavis_Mavoid

Cant exactly remember what we put, did it in the solicitors office. I will ge the papers back today.

Something along the lines of had only received 1 vague written request to contact them with no details, which I replied in writing to asking for further information about what they wanted. Next correspondance was the court demand for an amount of £16.5k without any form of breakdown or explaination which I toook straight to solicitor

Solicitor filed the defence papers saying that PG had been signed for a maximum of £13k and we disputed the amount claimed.

I intend to ask for the judgement to be set aside on the grounds that judgement should not have been entered by default and I have been denied a fair hearing due to a serious oversight on the part of my solicitor.

redlady_1

My mortgage is with the Halifax. I lost a property and had to increase the amount borrowed. I didn't have another credit search conducted. I would suggest you talk to your mortgage advisor

Mavis_Mavoid

Thanks. That sounds promising.
I have been in deep discussions with my advisor and he with his BDM over all this but neither were exactly sure what would happen. They both suggested that the new offer should be issued ok. That is really all I need for now.

Advisor does a lot of work with Halifax and had never known them checking again before issuing funds but no doubt they have every right to if they suspect something is amiss. Wife's brother works for another unconnected BS in the commercial lending dept. He says they definately would check before issuing funding at his place.
Since they have asked for evidence of further funding availability I feel it is likely they will want to check that I havnt gone out and borrowed it on the open market which would then show up on my file, and affect their affordability calculations.
Thats why I could do with knowing what the policy is!

VIGILANT22

Mavis_Mavoid wrote: »

Thanks. That sounds promising.
I have been in deep discussions with my advisor and he with his BDM over all this but neither were exactly sure what would happen. They both suggested that the new offer should be issued ok. That is really all I need for now.

Advisor does a lot of work with Halifax and had never known them checking again before issuing funds but no doubt they have every right to if they suspect something is amiss. Wife's brother works for another unconnected BS in the commercial lending dept. He says they definately would check before issuing funding at his place.
Since they have asked for evidence of further funding availability I feel it is likely they will want to check that I havnt gone out and borrowed it on the open market which would then show up on my file, and affect their affordability calculations.
Thats why I could do with knowing what the policy is!

If an offer is in place and all that has to be done is funds drawndown, then another credit check wouldn't take place.....however this is not the same as being in receipt of an offer and wishing to revise it for increased borrowing.....which has to go back to underwriting for the risk to be reassessed....

Mavis_Mavoid

thanks Vigilant. Apologies if I was short with you before, I felt that the main issue was indanger of being distracted

As i understand it an offer is in place, a revised version of the original one that has been fully issued once and that had a full retention. The new one is for a lower amount overall and has a partial retention. I understand it has been through the underwriters and it is them who are prepared to issue it on receipt of my bank statement confirming sufficient funding to top it up.

Doyou think they will search again in these circumstances?

VIGILANT22

So you're borrowing less and the retention is less.
This should not require further credit scoring if the amount is being reduced..pls note I have said should not. As you will have noticed noboby can give you a definite answer...u/writers these days are warriors, a law unto themselves....What should appear like common sense doesn't always apply...however in fairness to Halifax they're one of the better ones...

Mavis_Mavoid

Thanks Vigilant