Halifax Pulling Out Of Mortgage Deal

ItsSigned.co.uk

Hi,

I'm just after a little bit of advice.

Last week we were accepted by Halifax for a 90% LTV mortgage after we applied through a broker. Credit checks went through fine paperwork sorted etc. So we made an offer on a house which was subsequently accepted. Mortgage offer in principal sent through to owners who were then arranging for the property to be taken off the market ready for us to press ahead.

We paid for surveys and Halifax phoned the other party to arrange but then later phoned back and cancelled. At first we thought this must have been an error but it turned out that Halifax had in fact pulled out of the mortgage with no explanation given. Gutted.

Now, I had and completed an IVA about 3.5 years ago (although my credit rating has been impeccable since then). This has always caused a problem getting a mortgage as expected but every other company in the past has failed us at the first hurdle. I'm really gutted that this has been allowed by Halifax to reach this stage before they cancelled - and I'm assuming this is why they cancelled but not sure why this wasn't an issue when they accepted.

I also feel really bad that the other party will be let down and the 3rd party that will also lose out.

Is there anything that we can do? Are companies allowed to do this?

Sorry it's a bit long for a first post. Any advice would be most helpful.