Halifax - How rude

Eve1975

I had a mortgage with YBS before I went bankrupt (but it was never repossessed and long gone before bankruptcy). I have spoken to a financial advisor and he said Skipton is a good one, but he has recently managed to get a mortgage for a discharged bankrupt of 4 years with Nationwide. Cannot apply until summer time when everything is off credit report and we know what is happening with the sale of boyfriends property. It is good to find out on this board though which banks/building societies say yay or nay!

foolishboy

Farside wrote: »

YBS....? Is that Yorkshire buildings society? I'm looking for a bank/BS for a mortgage.

I can't get a mortgage with natonwide, I've been with them nearly 8 years, And discharged from bankruptcy 7.7 years now and they refused me a decision in principle lol.

I can't believe the OP has a MASSIVE 100K deposit and halifax still said no, !!!!!!... That's just crazy! :shocked: :shocked: :shocked:

Yup .. Yorkshire. I applied to NW, got referred but then declined an AIP.

Deposit wise we have around the same as OP however YBS basic adverse criteria states max LTV of 85% for ex BRs. Here's the blurb they sent me at the time:



MORTGAGE/SECURED LOAN AND/OR TENANCY ARREARS

0 missed payments in the last 12 months
No more than 1 missed payment in the last 24 months
All payments must have been made within one calendar month of the due date in order not to be classed as arrears.
In all cases, payment holidays are to be treated as missed payments, unless they have paid ahead in advance, in which case it would not show as arrears on Insight or the mortgage statement anyway.
Secured Loans with a balance that is in excess of 25% of the existing mortgage balance will be treated as a mortgage and must meet the criteria detailed above.


CCJs

Registered over 36mths ago, maximum 2, maximum value £500 and proof that satisfied within 6 months of being registered (insight or certificate).
DEFAULTS
1 default registered within the last 36mths with a maximum value of £150 is acceptable.


BANKRUPTCY / SEQUESTRATION

We cannot accept undischarged bankruptcies
The Bankruptcy/Sequestration must have been discharged for a minimum of 36 months – max 85% LTV
Insight must confirm that the Order is discharged or
obtain copy of the Discharge certificate as necessary to confirm the date of discharge
If there is an indication of a family transfer e.g. if the vendor is a spouse or other family member pre-bankruptcy the case should be referred to a Central Underwriting Department Underwriter. Bankruptcies are now generally discharged after 12 months but proof of discharge is still required.
Sequestration is the Scottish equivalent to Bankruptcy, and is normally discharged three years after it was registered; proof of discharge is still required.


INDIVIDUAL VOLUNTARY ARRANGEMENTS (IVA’S) AND TRUST DEEDS

Considered if satisfied over 36 months and no other adverse
Obtain a copy of the IVA/Trust Deed document or statement/letter produced by an Insolvency Practitioner (IP) to confirm the agreed monthly payment arrangement, satisfactory conduct and final payment date where appropriate.

Existing borrowers may be considered for an additional loan to fully repay an IVA/Trust Deed. The Supervisor/Insolvency Practitioner must confirm that there will be sufficient proceeds to repay the outstanding amount and conclude the IVA/Trust Deed. These cases must be referred to Central Underwriting Department at enquiry stage.


POSSESSIONS
Applicants who have had a property repossessed will not be considered.

Standy

worked_hard_for_the_money wrote: »

Hi Eve 1975,

I read an interesting article over the weekend in the Daily Mail .. If you look it up on line and click into the Money section .. it was about obtaining mortgages post BR (I'd post the link but am rubbish with that sort of thing ) .. The crux of it was things aren't all doom and gloom and in the comments section folk who were obviously mortgage advisors had stated that they had arranged mortgages for clients with large deposits 2 years post BR. Might be worth a read.

Are you allowed to post a link to the article as I cannot find it on their website and it sounds interesting:)