Halifax mortgage DIP, survey paid for, mortgage declined

markd1982

Hi,

Wondered if anyone could help?

My wife and I applied for a mortgage with Halifax 2 days ago. Following a successful Decision In Principle we proceeded to a Full Application and both came back as successful, :T with no requirement for further information. The survey was paid for and subsequently booked the following day (yesterday).

My mortgage broker has received an email this morning to advise that the mortgage application has now been declined :mad: despite the payment for the survey already being taken from my account. The survey hasn't been carried out yet (booked for next Tuesday).

Is there any way of

a) finding out why we were declined after successfully going through the initial credit checks
b) can we appeal this decision
c) how likely are we to succeed in appeal? what's the best way to do this?

Thank you in advance for any help and hopefully we can get our mortgage sorted.

Mark

opinions4u

Ask your broker to deal with this for you. It's his job.

There is a right of appeal, although it's unlikely to succeed.

koexelek

You could appeal, but the lenders rarely change their minds these days.
Good news though, if the survey has not been carried out, you should get your money back, as they can't charge you for something that didn't happen.

However, lenders do sometimes retain some of the survey fee to cover their "admin" costs

markd1982

Thank you for your quick replies.

With the appeal process is there ever a chance of turning their decision round? And, do they always give a reason for why it was declined. I assumed by passing the credit check at full application stage that the mortgage was a given, bar a negative survey!

Do you have any idea what the reasoning might be in your experience?

Crinz

You passed an initial credit search at Agreement in Principle stage, this usually covers around 3 years of address history and does a credit search on that.

It would be that something came up on a previous address that wasnt searched but was picked up manually.

Have you looked at your credit file for every address you have stayed at?

markd1982

Thank you for useful response Crinz.

I do have a default (settled) from over 5 years ago but I would have thought this would come up at initial search, wouldn't it? The amount has been satisfied (4 years ago) and it was only £1700.

I thought that this would have made me a decline straight away???!!!??

markd1982

Just spoken to my mortgage advisor and it appears that Crinz is right, they have gone back further and found the default, despite this being totally against my more recent credit history.

Does anyone know whether it's possible to speak to the underwriter that has made the decision and plead my case? I feel that I have a very strong case to put forward but want to know whether it's possible to speak to them directly?

Has anyone ever spoken to the underwriters directly?

firstaspect

You need to talk to your broker about your options, that's what they are there for.