FTB applying with Halifax

MrGST

Hi all,

My wife and myself applied for a Halifax mortgage last Wednesday. Passed the AIP and once we got through to application stage, we were told that they require no further information and that offer would be issued once the valuation is completed and is satisfactory of course. I did ask they didn't instruct a valuation until all the checks were done as I didn't want to waste £500! The following day, I received a call from the processing team advising all the checks were fine! The only info that was required was that my wife had to verify her ID. Surely it can't be this simple with Halifax?

I had a few problems over the past few months applying for a mortgage via the high St as I had adverse credit (2 defaults, both satisfied however one of them has now been removed as it was over 6 yrs old and the other is over 3 yrs for £120) so naturally I was really surprised I haven't had a problem with Halifax. I had been rejected by Barclays and Aldermore. My wife's credit is immaculate. I'm assuming they haven't asked for payslips etc as I bank with Lloyds? The valuation is being conducted tomorrow.
We're borrowing £246595 against £360,000 (64% ltv).

All being well, what's the likelihood of getting an offer as I'm mentally preparing myself for the worst after reading a few horror stories on the boards.

Dave_Ham

This should be fine - they do not typically instruct a valuation to then decline you on credit history..

Halifax are pretty flexible..

Good luck

roadrunner82

Hi,
try not to worry i know its stressful we are going through the same thing at present.

Halifax are quick we have just had our offical offer within 6 days from application. Our MA said they only asked for proof of ID for our application even though we gave her everything payslips bank statements proof of address etc.

Good luck

MrGST

Thanks for the feedback. Will keep you posted on how we get on. Fingers crossed!

marathonic

Is it the ease of acceptance or the fact that it's their own bank that people apply with Halifax?

I'm just looking at rates available and Halifax's appear to be pretty poor.

MrGST

I went for ease of acceptance as the monthly payments on the fixed rates were way within my budget anyway.

roadrunner82

we too went for the ease of acceptance yes the rates are slightly higher but well within our budget. we needed to ensure we physically got the mortgage and from several posts and research halifax fitted our requiements and circumstances.

we are now waiting on the sellers solicitor.

snowcat123

I was in the same boat. I have poor credit, wife's is immaculate.

We wanted 80%LTV against £205k.

I was preparing for the worst because I had been refused before in the past and I have still some outstanding debt.

Got to valuation stage and I was worried!

Then the offer came through and now we hope to legally complete by end of June.

Halifax have been great tbf :j

MrGST

Hi all
Solicitors have the offer however there is a condition on the offer in regards to the deposit as part of it is from a family member. Halifax want a letter from the solicitor to confirm it.

I hope there won't be any problems...

Dave_Ham

They are likely to want a letter confirming it is a gift.

Should not make a big difference, try not to stress...!

nick_

I too am at valuation stage with Halifax, having been rejected by HSBC and Nationwide (1 measly default). Kind of worried that we're not going to get the full loan amount (i've found different things to worry about at different stages of the process) but i guess i can't do much else but wait.

Glad to hear that a positive end is in sight for the OP.