Truely fed-up

Tracewhy

So after being completely stressed out all bank hol weekend about the cyprtic 'there is a problem with the application' throw away comment. The borker has come back to me.

He has said that Halifax Auditors have pulled the mortgage and its now a decline. The broker has said that this could be that they (the brokers keyed something wrong) or Halifax could have made a mistake. I am suspecting they have suddenly done another credit check and decided they don't like me after all. The broker has said they are trying to get an answer out of the bank as to what is/has happened. He also tells me this is very rare thing to happen, so why flippen us then

Is there ANY hope for us and this mortgage, I'm really on the verge of giving up, it makes me so cross that a issue that wasn't of my making and is nowhere near as severe as some people who seem to get mortgages is choking us. Distraught is not the word right now

SilentBob

It is awful, I have been through loads getting a mortgage as well, Halifax are good at getting your hopes up and then dashing them

kingstreet

Tracewhy wrote: »

a issue that wasn't of my making and is nowhere near as severe as some people who seem to get mortgages is choking us

I don't know if I'm being a bit dim, but at the outset of this post you claim you have no idea why your application has been declined at audit, then you say the above which appears to contradict most of your post.

Approximately 8.5% of Halifax cases are audited after offer, many of them being done at the point the solicitor sends the report on title. We have an increasing number of cases on here where declines have taken place as a result of audits. It is more regular than your broker appears to understand. Is he independent? Whole market? From an estate agency with just a limited panel?

Why did you apply to Halifax? What is the problem you know about which you think they'd missed? Did you get fast-track or was your case full status? Income multiple? Loan to value? New build? Shared ownership or shared equity?

Tracewhy

kingstreet wrote: »

I don't know if I'm being a bit dim, but at the outset of this post you claim you have no idea why your application has been declined at audit, then you say the above which appears to contradict most of your post.

Approximately 8.5% of Halifax cases are audited after offer, many of them being done at the point the solicitor sends the report on title. We have an increasing number of cases on here where declines have taken place as a result of audits. It is more regular than your broker appears to understand. Is he independent? Whole market? From an estate agency with just a limited panel?

Why did you apply to Halifax? What is the problem you know about which you think they'd missed? Did you get fast-track or was your case full status? Income multiple? Loan to value? New build? Shared ownership or shared equity?

So the broker is L&C, so yes I believe they are whole market. Yes I have had credit issues in the past (all now fixed but of course still on record) and I was half expecting a decline BEFORE this.. So the reason I don't know why its been declined is because I was told they'd finished the credit checking and the sort of thing that would make it go wrong from here was lies on the form or the house being devalued. What I understand from the broker is that its a random audit check and they themselves don't know the reason yet, they are awaiting a call back from the Business Manager they deal with. I'm not sure if its a fast track mortgage or not tbh.

Halifax was chosen by the broker because they apparantly tend to be more lenient towards previous credit issues, and this has been backed up by mortgage brokers on here also. I also point out that the fees for this mortgage are high as is the interest rate, which I know compensates the bank somewhat for their risk. I also know that a mortgage can be pulled at any point.

We have a relatively high LTV as we are only putting in 10% which is the equity of the house we are selling.

The question really was how many had experience of a mortgage going to an auditor, being pulled and then being granted again *slim slim chance* I am sure.