moving house

rikki95

Hi I have a mortgage with Halifax - I want to sell our house and buy another of similar value and LTV to what I have now and use some of the money to pay off loans and cards

I got my mortgage on a self cert basis and cannot prove any income details - I have defaulted on credit cards and loans but am up to date on my mortgage payments although I was in 3 months arrears up until January of this year

Would Halifax allow me to simply transfer my mortgage to the new property or would they need to go through all my details as I am sure I would not be approved now

I don't want to talk this through with Halifax yet as I don't want these (negative) details on my file with them - any advice is appreciated

Thanks

Dave_Ham

Hi - sorry this is a non runner all round. The minute you want to move the mortgage to another property, in effect it is another mortgage.

Given the recent adverse, you will not get a mortgage elsewhere until you have 12 months mortgage payments on time as a minimum..

Sorry not better news..

rikki95

Hi many thanks for yr reply - is there some chance that the original mortgage offer may have a transferable clause within it? Can only hope! Once again many thx

Dave_Ham

No chance I am afraid...

It will be "portable" as it is Halifax, but portable is subject to all of the original qualfying criteria.

If you wanted to fix your deal for example on the existing property mortgaged, you could do this without any checks or criteria...

Sorry...

kingstreet

Mortgages can't be transferred. You may be able to port the rate from your old mortgage to a new one, but that requires you to qualify for the new mortgage in the usual way beforehand.

Self cert with Halifax? I don't ever remember them offering self cert.

I share Dave's view about the likelihood of you getting a new mortgage.