FTB -- Declined by Halifax-- what are my chances of with other lenders?

Dave_Ham

Just read your other thread, I suspect your case was picked up by their Credit Decisioning Team.

They suspect something untoward, or would not pull the case at the stage it was at.

It could be your partner, your employment or your deposit. No-one will be able to guess further...

Or information you have given to another lender and/or benefit office previously/presently.

Keeran_2

Dave_Ham wrote: »

Just read your other thread, I suspect your case was picked up by their Credit Decisioning Team.

They suspect something untoward, or would not pull the case at the stage it was at.

It could be your partner, your employment or your deposit. No-one will be able to guess further...

Or information you have given to another lender and/or benefit office previously/presently.

I suspect it would be because of the deposit. My dad deposited the amount on 19th march and I transferred my savings into my current account on the 20th. then went to branch on the same day to get my bankstatement to be printed and stamped. There was money all of a sudden in my account from 4k to 37k. May be thats the reason. If they ask for proof of deposit... what else do u think I could show?

On the other hand, I must agree my OH's credit history is not good (defaults, ccj etc)... and thats the reason I am applying in my sole name, though he is on a perm job with salary of 60kpa. Having said that, we have always maintained our finances seperately... we do not have any joint accounts etc.

This is my first application, have never been to other lender, I dont claim any benefits either!!!!

hamster2013

p60 = declared earnings previous year
so if you were working, even 2 days a week, even 2 hours a week, your employer should have the p60 for you - they need to keep it legally for 3 years - just request one
if you left before 5th april, you should have been given a p45 this should provide the same information up till when you worked and the bank can use their calculators to sum it up

when you dont submit a piece of documentation - the bank doesnt decline your application most of the time..... they request for it
so if your application is declined, its most likely because of other issues rather than a missing piece of documentation

you mentioned monies coming from india - if that is caught by some monitoring system, and they have disclosed a SAR on you, they will not even answer your calls' anymore to avoid tipping off, or the MA would not even have the slightest clue and the underwriters or compliance officers will have put a 'black; flag on you -
i'm obviously speculating to tell you that it could be anything

cut your costs and abandon the property you were planning to buy, wait a few weeks, order your credit report and see what show's up there, and depending on that try again - in the meanwhile, place the funds in a ISA or other savings account to try and make it work

kingstreet

Last week CDT requested evidence of deposit gifts in donors' accounts for a gifted deposit case of mine.

Keeran_2

hamster2013 wrote: »

p60 = declared earnings previous year
so if you were working, even 2 days a week, even 2 hours a week, your employer should have the p60 for you - they need to keep it legally for 3 years - just request one
if you left before 5th april, you should have been given a p45 this should provide the same information up till when you worked and the bank can use their calculators to sum it up

when you dont submit a piece of documentation - the bank doesnt decline your application most of the time..... they request for it
so if your application is declined, its most likely because of other issues rather than a missing piece of documentation

you mentioned monies coming from india - if that is caught by some monitoring system, and they have disclosed a SAR on you, they will not even answer your calls' anymore to avoid tipping off, or the MA would not even have the slightest clue and the underwriters or compliance officers will have put a 'black; flag on you -
i'm obviously speculating to tell you that it could be anything

cut your costs and abandon the property you were planning to buy, wait a few weeks, order your credit report and see what show's up there, and depending on that try again - in the meanwhile, place the funds in a ISA or other savings account to try and make it work

I dont understand the money monitoring system... it was the money... my dad got retired in december, he worked for 30yrs as a govt employee in India and I have all those papers with regards to where the money came from. So I dont think anybody can question regarding that money!!!!

I think I will apply with Lloyds and see what they say... if not I think it is better I give up the hope of buying a property in this country!
cheers

Dave_Ham

kingstreet wrote: »

Last week CDT requested evidence of deposit gifts in donors' accounts for a gifted deposit case of mine.

I too have seen a bit more scrutiny from Halifax, so consensus would be that the deposit is likely to be the issue..

Are your parents resident in England or India?

Keeran_2

kingstreet wrote: »

Last week CDT requested evidence of deposit gifts in donors' accounts for a gifted deposit case of mine.

Thank you! yes... I was thinking about the same...... I am plannign to get my dads account statement back from India. I might get hold of his retirement papers and also the funds/PF's he got!
I hope it makes sense!

Cheers

Keeran_2

Dave_Ham wrote: »

I too have seen a bit more scrutiny from Halifax, so consensus would be that the deposit is likely to be the issue..

Are your parents resident in England or India?

They are in India. It was gifted to me... and my dad had to sign a declaration for the Indian bank.. as they can transfer big amounts outside India only for Medical/Educational purposes. Now coz this was a gift, he had to sign and declare it as a gift to me. I submitted those papers as well.

Keeran_2

But I thought if they needed the proof of amount in donors account then they should have asked me for it.... I did not give.. coz they did not ask me for it!

Dave_Ham

I can only assume this is what they do not like, as they cannot see and touch your Father and where the gift has come from and how it was achieved.

To get a straight decline with no appeal, suggests there is something more sinister though.

I would push Halifax harder for an explanation before you go anywhere near C&G.

Not sure if you can send an SAR request for notes/details they hold on file for an application (would think you can)

Kings - what do you think?