Chances of a mortgage ??

rodders099

Hi all,

I would like your expert opinions please. I am about to apply for a mortgage with the Halifax.

Right some history.

On Sunday, my final default drops off my credit reports. So as from Monday, my report is as follows :

No defaults. No CCJ's. No Bankruptcy (ever)

Current address - 18 months. on electrol roll.

previous 10 years address history, also on electrol roll.

10 credit accounts -

2 x current mobile phone (three) - both over 2 years

1 x Egg credit card - £4750 limit - £2750 on it.

1x Vanquish CC - £1000 limit - £900 on it.

1 x AA loan - SETTLED this month. £7000 over 3 years.

1 x Haifax current account. Settled satifactory.

2 x Wonga pay day loans - SETTLED.

1 x Carlyle Finance - SETTLED.


1 x AQUA credit Card - SETTLED.

All accounts are green, all are satisfactory. Not 1 missed payment in 6 years on any account.

No aliases. No public record info.

235 linked addresses, I am in the armed forces and have moved around alot.

I have had about 5 credit searches this year, all ended up in declines. Including one previous mortgage application which I put down to the default on my credit file.

Lastly, I have been in the armed forces for 12 years.
I earn £34,000.
I am looking for £90,000 as part of a homebuy scheme (70/30% ownership), which the Halifax mortgage advisor said the Halifax would borrow the 100% I require as a mortgage.

So, having a look at what I have written, is there anything I should be worried about ?? I am very anxious at the moment, as I have worked really hard to clear my debts over the past few years. I really want this house/mortgage and can easily afford the repayments.

Many thanks for your time.

kingstreet

I am looking for £90,000 as part of a homebuy scheme (70/30% ownership), which the Halifax mortgage advisor said the Halifax would borrow the 100% I require as a mortgage.

Not that I'm aware of. All Halifax mortgages require a deposit. On shared equity it's 5%.

You buy 100% and they give you a loan for 30% with you raising the rest? The loan's interest free for five years and you pay it back when you sell the property, or earlier if you choose?

Shared equity

Lets your client buy a home by sharing the equity with a third party.

Halifax must have first charge, the seller secures their interest by way of a second charge. We can lend up to 95% of the purchase share - clients must contribute a minimum 5% personal deposit (excludes any deposit provided by a Builder or Housing Association).

The mortgage must be conducted on a full repayment basis.