Halifax mortgage promise

Cppercy

Hi all

I have applied and been granted a DIP with the Halifax, read on here some horror stories about this being unreliable. Just wondering what they've done at this stage to assess my suitability?

I have provided 100% factual info and let them know I have a 4 year old satisfied default, they accepted these and offered DIP. Does this mean once they confirm my info as accurate I will likely receive a mortgage offer?

Dave_Ham

Impossible to say I am afraid.

What you must be aware of though is the Halifax typically check present to year 3 on AIP + notified of any CCJ's.

They may well pick up the default and fail at full application when they check 3-6 years and previous addresses.

There is no guarantee I am afraid although they will refund your valuation fee paid if they do decline so you will not financially be out of pocket.

I assume you have checked your Experian and Equifax reports and confirmed the default is showing?

kingstreet

No way of knowing.

No full search has yet been done, so whoever you told about the default has simply told you what he/she thinks you want to hear. The Halifax system does not ask about adverse credit. The system only looks at the short-term at your current address for a mortgage promise.

When you make a full application, you'll be properly underwritten and the correct answer given, following a full search of your current and former addresses.

The Halifax MP is probably the most unreliable of all those offered by the major lenders.

Jimbo1976

Don't get too worried at this stage. Halifax will do a lot of DIPs every day and the vast majority of these sail through but the only people who tend to start posts are those who have had problems. Happy people don't tend to post saying "I had a DIP and it completed"

If you are concerned about the potential impact of the default on your credit file, speak to a broker

Cppercy

The default does not show on my experian or callcredit files but does on my equifax. I'll just do the full application and see what happens

Dave_Ham

To do the full application you will require a purchasing address and also pay for the valuation.

Halifax predominantly rely upon Experian and that is why you have passed the DIP. They do have the ability to cross reference with Equifax though.

I would not want the stress of a long exchange-completion or new build purchase as if they check, they are likely to decline the case on policy at any stage of the process

Good luck

Cppercy

Property is chain free and I want to complete within 6 weeks, completing full application today. Fingers crossed