will halifax overturn a btl mortgage application?

kingstreet

Not that I know of.

I didn't realise he was remortgaging the property at first, so I wondered at the application of the six month rule.

When you then said he was raising the money on the first property it fell into place.

Halifax criteria for all remortgages opens with;-

You must ensure your client has owned their property for at least six months before submitting a re-mortgage application.

I just wonder why he paid cash for it, knowing he was going to offer on something else. It would have been easier to buy the earlier one with a mortgage and pay cash for yours.

Sorry I couldn't give you any hope. There may be a lender without a six month rule, but it will take legwork to find them as there's no quick search available.

sammy66

I think Northern Rock only want 3 months ownership

bumgum

kingstreet wrote: »

Not that I know of.

I didn't realise he was remortgaging the property at first, so I wondered at the application of the six month rule.

When you then said he was raising the money on the first property it fell into place.

Halifax criteria for all remortgages opens with;-



I just wonder why he paid cash for it, knowing he was going to offer on something else. It would have been easier to buy the earlier one with a mortgage and pay cash for yours.

Sorry I couldn't give you any hope. There may be a lender without a six month rule, but it will take legwork to find them as there's no quick search available.

thanks for your reply.

just one more thing that's astonishing in this process :

his financial adviser is someone who works for the Halifax.

bumgum

hi.
just a little update.

things are becoming alot clearer now.
my investors application was never originally turned down as i thought, it was just referred to the legal department of the Halifax.
His application has been bouncing around there for the last week or so, but the legal department can't make a decision, so it's now been referred to the local Halifax branch!!!!!! where they will make the decision after talking to him face to face.
He does all his banking with the Halifax.

Has anyone ever had this happen? What are our chances now??

do i start looking for furniture or bridges to jump off ??

any help is appreciated.

Yorkie1

I wouldn't jump off furniture. You'll get it dirty by climbing on it with your shoes on.

:rotfl:

(I'll get my coat ... )

bumgum

Yorkie1 wrote: »

I wouldn't jump off furniture. You'll get it dirty by climbing on it with your shoes on.

:rotfl:

(I'll get my coat ... )

lol.

should I be confident of the outcome or not?