Halifax - First Time Buyer HELP

r83_2

Hi all,

I don't know if there would be anyone with such circumstances as I am (I truly hope not). I am in the UK on TIER 1 Visa valid until mid 2012 (over all in the UK for past 9 years and had been in employment in past almost 3 years). Yesterday, my wife and I have applied for Halifax Shared Equity mortgage for the house worth £205,000. I will be paying 5% and 25% will be contributed by Developer.

We have applied for 75% LTV (£157,000) and advisor from mortgages first reckons I shouldn't have problem with Visa since I have been in the UK for 9 years now. I also had a default placed on my credit file in the year 2006 which was satisfied soon after, could this be a problem? It is a joint application and our salary together is £41000.

Any response will be greatly appreciated.

Regards,
R

Thrugelmir

How much was the default for?

r83_2

Hi - Thanks for your response. The default was for approx £140 because Retail staff at Dixons had forgotten to take my signature on DD form on the finance papers.

r83_2

Also, I just received the copy of my mortgage application from the broker. It has few inaccuracies which I have asked broker to correct last night. The form was incorrect with following info, could someone please advise if this could affect the actual mortgage application?
Incorrect Purchase Price
Incorrect Loan value
House detachment type
Conveyance's detail was left blank

Also, if anyone has any experience with Halifax First Time Buy (with Shared Equity) mortgage application time scales?
Ta x