Halifax - DIP but no footprint??

SASHAS27

Does anyone know if this is true...

When Halifax do a decision in principal it doesn't leave a footprint on your credit file?

Thanks All

MaXsteri

Not sure if it is true, but my broker told me the same.

SASHAS27

MaXsteri wrote: »

Not sure if it is true, but my broker told me the same.

That's what my broker said... I guess they should know what they are talking about but I wanted to know if anyone else had been given the same information.

Dave_Ham

It is a soft search, but does appear on your credit file.

It will show as Bank Of Scotland, as Halifax use their bank license. It does take 3-5 days to show up though, so that will be why you have not seen it yet.

For reference and further to your previous thread. Halifax check Experian and Equifax sometimes at offer/completion. With a default on your file, it is unlikely Halifax will like the case.

They check 3 years history and recent address on DIP and then all of the history on full application.

Best of luck

SASHAS27

Dave_Ham wrote: »

For reference and further to your previous thread. Halifax check Experian and Equifax sometimes at offer/completion. With a default on your file, it is unlikely Halifax will like the case.

They check 3 years history and recent address on DIP and then all of the history on full application.

Best of luck

Thanks.... My partner and I got the DIP decision back today and it was accepted. Does this mean that due to the default it may still be declined? Really confused now...

Dave_Ham

I am afraid so yes.

No-one can be sure until the full application is keyed, but there are a fair few stories on here confirming this..

It is a bit poor from Halifax to be honest, but you tend to have to put in indicative property details to get through to full application -which sort if defeats the point of a DIP.

This is still in minority of cases though, so fingers crossed for you...

Bit too late, but hopefully his name is first as they weight the underwriting of credit score on the 1st applicant. Strange but true

SASHAS27

Dave_Ham wrote: »

Bit too late, but hopefully his name is first as they weight the underwriting of credit score on the 1st applicant. Strange but true

My OH's name is on as applicant 1 and he has clean credit, so was mine until the stupid £380 default!! Coming up to three years now and it was settled within two weeks. Genuine mistake on my part but at the end of the day the onus is on me.

Broker seemed optimistic... Said there are defiantly lenders out there to choose from. So fingers crossed and hoping for the best.

kingstreet

Realistically, someone applying to Halifax with historic adverse credit information registered against them has to view the acceptance at full application stage as the point they have "passed."

An agreement in principle in such circumstances just isn't reliable.

SASHAS27

kingstreet wrote: »

Realistically, someone applying to Halifax with historic adverse credit information registered against them has to view the acceptance at full application stage as the point they have "passed."

An agreement in principle in such circumstances just isn't reliable.

Thanks....the DIP was done by the broker. She wanted to do the DIP and then once we had found the property we wanted and made an offer she was going to then sit with us and look at all the lenders etc.

Any thoughts on this guys?

kingstreet

The reasoning is fine, you simply can't rely on the agreement in the same way you could with a lender carrying out a proper full search. If this is a fall-back position, it isn't a very strong one to take TBH.

smacky

Dave_Ham wrote: »

I am afraid so yes.

No-one can be sure until the full application is keyed, but there are a fair few stories on here confirming this..

It is a bit poor from Halifax to be honest, but you tend to have to put in indicative property details to get through to full application -which sort if defeats the point of a DIP.

This is still in minority of cases though, so fingers crossed for you...

Bit too late, but hopefully his name is first as they weight the underwriting of credit score on the 1st applicant. Strange but true

hi Dave

i know this is a old thread but just to query your input on default

could it fail even if you had 1m missed payment between 2-4 yrs or it just fail at a default which i guess is when its "8"

thx in advance