Halifax anticipated credit score a, b and c ????

tink_1983

What's the criteria to get an A/B/C etc?

kingstreet

It means that following analysis of all your data, the system feels you are either;-

A pass - top quality borrower
B pass - good quality borrower
C pass - lower quality borrower.

Your pass grade will determine (along with your loan to value) the amount of supporting documentation you are required to provide on application.

Halifax does not disclose the score level required to achieve the quoted level of pass.

tink_1983

Okay so if my broker has worked out what I'm elidgeable to borrow based on a score of A, i preume he will know that this is correct & that I'm an A and he's not just presuming!?

kingstreet

Frankly, if you were my client, I'd give you the C&B borrowing levels and tell you you may be able to get more, subject to you passing the credit score at a very high level.

I would not quote A pass level unless you were an existing borrower of Halifax, or banked with them.

If you are confident, have a play with this;-

http://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

being careful to get your entries right.

tink_1983

I do bank with Halifax, have done for 15yrs ish. I'm first time buyer. We have 20% deposit & need loan of £139,070.

tink_1983

Anyone else experienced this with Halifax?

Simon_gloster

As mentioned today, the credit score ie AB or C can change from AIP to full app.

They must have guidlines as kings says on all sorts of logarhythms built into their lending result.

For eg C might limit you to 50% ltv. B to 75% ltv and A to 90% ltv, thats how I would read it.

There are bound to be times when ltv is restricted to 80% even on A pass cases due to an element of risk they dont like.

If your worrying now then you'll worry until pre completion as they are famous for performing spot checks pre release of funds via updating the application via credit scoring.

If I was in your shoes i'd relax as there is nothing you can do. They'll either do it or not.