Accepted mortgage in principle then declined mortgage with the Halifax

Carlos86

Dave_Ham wrote: »

Possibly would help, although impossible to tell until you have your Experian and Equifax reports in your hand (the £2 versions are fine)

Put them to someone who knows which way is up and they will quickly determine if there is a solution for you.

Good luck

Declined again Dave, I have good credit score but 3 defaults 3 years ago. I've been advised to appeal against the decision made, does this really make much of a difference? Thanks

Carl

Carlos86

Dave_Ham wrote: »

Possibly would help, although impossible to tell until you have your Experian and Equifax reports in your hand (the £2 versions are fine)

Put them to someone who knows which way is up and they will quickly determine if there is a solution for you.

Good luck

GMS wrote: »

At high loan to value it is probably down to the defaults.

Underwriter may have decided too risky.

Declined again due to defaults 3years ago. Do I stand a chance if I appeal? Thanks

Carl

opinions4u

Carlos86 wrote: »

Declined again Dave, I have good credit score

Who says? Don't pay for a random number!

but 3 defaults 3 years ago.

How can you have a good credit score if you don't pay your bills on time?

Was it three years ago? You said five in an earlier post.

The defaults were in 2007 and I have payed everything up to scratch since then, I have a car on credit that is all and I ran a good wage but still not food enough. Really does drive you up the wall. give up

GMS

Carlos86 wrote: »

Declined again due to defaults 3years ago. Do I stand a chance if I appeal? Thanks

Carl

Appeal on what grounds?

What Loan to Value are you looking at? May find you need a lesser value property and/or a bigger deposit.

New build will also hinder many.

Carlos86

opinions4u wrote: »

Who says? Don't pay for a random number!

How can you have a good credit score if you don't pay your bills on time?

Was it three years ago? You said five in an earlier post.

I thought they were, I was asked to get a report from experian and have read it in detail they were all late 2009. Any ideas?

Carlos86

GMS wrote: »

Appeal on what grounds?

What Loan to Value are you looking at? May find you need a lesser value property and/or a bigger deposit.

New build will also hinder many.

5% first buy scheme was the option for me with a 20% equity loan through the builders and government, I need a mortgage for £133,000

Carlos86

ftb-btl wrote: »

Are the defaults satisfied or outstanding? How old are they? Have you built up positive credit history since then i.e. by using a credit card / loan without fault in the mean time?

All defaulted satisfied I don't owe anybody anymore apart from a car on credit without any missed payments

rising_from_the_ashes

Carlos86 wrote: »

I thought they were, I was asked to get a report from experian and have read it in detail they were all late 2009. Any ideas?

Not sure where you found your "adviser" as they should've advised you to get your credit report before applying for the mortgage - especially if you'd told him about the defaults.

The issue of the defaults would've then come to light & IMHO I'd certainly have said avoid Halifax / HSBC etc.

TBH it's very unlikely you'll get a high street lender to give you a mortgage with 3 defaults under 3 years of age...... any chance your partner can take on the mortgage in sole name as suggested earlier.

Carlos86

rising_from_the_ashes wrote: »

Not sure where you found your "adviser" as they should've advised you to get your credit report before applying for the mortgage - especially if you'd told him about the defaults.

The issue of the defaults would've then come to light & IMHO I'd certainly have said avoid Halifax / HSBC etc.

TBH it's very unlikely you'll get a high street lender to give you a mortgage with 3 defaults under 3 years of age...... any chance your partner can take on the mortgage in sole name as suggested earlier.

Her credit history is squeaky clean with. I late payments and we have been advised this may have been an option but as her income is lower than mine they would only lend around 80k and need 133k the type of mortgage we need equity/new buy is only available from a hand full of lenders (main stream) I give up! This has been a total shambles on my part. Young and stupid eh!

Simon_gloster

Most lenders wont let you add a guarantor if you fail the credit score.

Fail on affordability but pass score, then they will entertain should you bebin a profession where you are training and upon passing will have a salary increase to be then able to remove the guarantor.

If Halifax say no, your options are very very limited.

It seems your broker took a punt and failed based on their full credit score which is more in depth and goes back further.