Mortgage offer in principle.... But I'm concerned...

tink_1983

Got an AIP from Halifax.
Did this through broker, however this is in my name alone.
I talked to Halifax direct about a week ago about getting mortgage promise and we were refused as tried in hubby's name also & he has adverse credit so mortgage in my name only.

However I am now concerned, once the application goes in will Halifax tie me to my husband as we already talked to them once? Do they have a cooling off period where you can't apply again within certain time frame or would that only apply if we went in jointly again?

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Also my affordability was worked out that i would only have £800 on credit card, this will be case by time mortgage starts, but if they run another credit check it wil likely show £1k on my card.

Should I call my broker and tell him this or will Halifax appreciate I use the card month to month and pay it off when pay day rolls around?

Thanks in advance for any guidance :-)

kingstreet

If you've tried a joint mortgage promise you may find you've linked yourself financially to your husband. This may cause your sole full application to fail credit score, when it is submitted. Do you have any other financial links - mortgage, current account?

The Halifax MP is a notoriously unreliable way of getting a mortgage agreed as it conducts only a "soft search" designed not to leave a visible footprint on your credit file. The full search, done only on a full application finds issues not visible for the MP, so you can be declined when you thought you had virtual certainty you'd be accepted.

The card issue will be fine. If you tick the box to say it will be repaid on or before completion, it won't be taken into account.

tink_1983

Husband and I have no joint credit at all. No accounts or anything.
Oh dear feel very nervous now :-(

kingstreet

TBH I don't know if the soft search inserts the joint financial link on a credit file the way a full check would.

There's an Experian representative who posts on here and he may be able to answer this. He's unlikely to be around until Monday, so you may want to bump this thread on Monday morning.

tink_1983

Thank you for your help.
Checked experian and husband is showing as a financial associate. Wondering if they is enough cause for them to request his credit report. Or if this is even allowed.?

ACG

They wont request his report but they will see you are financially associated.

tink_1983

Thanks ACG... Okay so unless they look at his report will this be an issue ?

Or will they be concerned as to why we have not applied together?

tink_1983

Just checked online and my husbands ccj is showing as unsatisfied.

He's not on my mortgage application, but as I say above he is a financial association on my file.

Do you believe I will get turned away based on this association?
Should I try to disassociate myself from hubby?
We have no joint accounts, just a recent application that has linked us for the first time in the 6yrs we have been together.

I realise now I should have checked his credit report before making any applications - lesson learnt!

Dave_Ham

Stop worrying - you will be fine

tink_1983

Dave_Ham wrote: »

Stop worrying - you will be fine

Thanks dave. I'm FTB & finding this all very stressful!

Going to stop over thinking :-)

tink_1983

Bumping for the experian expert if he is about :-)