Mortgage rate 4.3 percent and Halifax mortgage

rs65

kinh wrote: »

28k is my real income the tax has been sorted I say I'm 2o because I'm 20 in one months time.

The house I want cost 150k

A couple of days ago your birthday was in December.

Jo_isskint

Hi i am in exactly the same position with help to buy with the Halifax.....how did you go about clearing the default of your credit file cheers

kinh wrote: »

Hello so I'm in the process of removing one single default that is on my credit file that has been resulted in me getting declined for a mortgage.

Anyway, new buy agents said the rate will be fixed term of 4.3% for two years is this good?

5% deposit 20% government loan
House value 150,000

Furthermore the default should completely drop off tommorrow or within a week. The agent I spoke to said Halifax might still see the default as they update their systems once a month? Is this the case?

Also is there any other banks that are participating in the help to buy scheme? Many thanks

kinh

rs65 wrote: »

A couple of days ago your birthday was in December.

That date was made up. I would never reveal my real date of birth on the Internet to people I don't really know.

Jo_isskint wrote: »

Hi i am in exactly the same position with help to buy with the Halifax.....how did you go about clearing the default of your credit file cheers

It's coming off because of ID fraud. Had nothing to do with me. Did they told you got declined because of the default??

kinh

kingstreet wrote: »

What do you mean by this?

Again, you need to be talking to your mortgage broker, not pixels on a screen.

Lender treatment of income is dependent on its source.

Are you;-

- employed
- self-employed
- a contractor
- a director?

Is your employment permanent, temporary, casual, fixed contract?

Is this gross basic salary, net profit? Are there variable earnings such as overtime or bonus included? Are they irregular, regular or guaranteed?

If you are looking for an answer "yes" to your question;-


You are going to need to provide so much more information. If only you'd tell a mortgage broker all this, you'd have all the answers you need...!

You're in Solihull. The HCA HomeBuy Agent is Orbit, based in Coventry. We're on the Orbit panel. Please get some help from one of the approved advisers, even if it isn't us;-

hba@orbit.org.uk

I am employed, permeant, fixed gross salary, no variable earnings.

Thanks will contact orbit in the morning the advisors wernt available when I called (after 7pm)

kinh

So thankfully, the default has been removed, when I got declined, i thought it was a full credit check, but halifax only did a quotation search. When i had the default on, my score was 374, now it's risen to 514, I know it doesn't mean much because credit scores are meaningless, but I guess I stand a better chance now with the default no longer there.

kingstreet

Halifax only uses a soft search for its "Mortgage Promise" so you can sometimes find data doesn't show up until a full application, making the result at DIP stage more unreliable.

Ensure the default is no longer visible on your Experian credit history, then get proper mortgage and purchase advice.

DCFC79

ado wrote: »

Wow you are really lucky being able to change jobs at the drop of a hat,

He is really lucky isnt he, it was only last month he was working for Sainsbury's earning £1,100 a month.

kinh

kingstreet wrote: »

Halifax only uses a soft search for its "Mortgage Promise" so you can sometimes find data doesn't show up until a full application, making the result at DIP stage more unreliable.

Ensure the default is no longer visible on your Experian credit history, then get proper mortgage and purchase advice.

I've phone orbit and they said that they don't offer mortgage advice. Best to speak to a mortgage advisor :mad:

I'm going to book an appointment with halifax but probably won't be worth it due to the fact their systems don't update until the 15th so the default will show up if I apply before then.

Newbuy said the main reason for the decline is because of the default and concern of the amount of searches on file. :eek:

So fingers cross all goes well, the rate if accepted with halifax is 3.1%

They also told me a new lender should be joining the scheme help to buy come next Tuesday so there is hope.

The default shows up with noodle and I'm not sure if it shows up on callcredit but experian and equifax are clean

kingstreet

Orbit doesn't offer mortgage advice. I never suggested it did. What I actually said was;-

You're in Solihull. The HCA HomeBuy Agent is Orbit, based in Coventry. We're on the Orbit panel. Please get some help from one of the approved advisers...

which was my way of suggesting you ask Orbit for a copy of their list of approved mortgage brokers.

I may have been a little clumsy in my explanation. Here is the list, which I found by googling "orbit homebuy agent approved IFA" and choosing the second option. The link to the list is about half way down in the FAQ which starts " I know nothing about mortgages..."

http://orbithomebuyagents.co.uk/mediaFiles/downloads/58653449/Independent%20Financial%20Advisers%20covering%20the%20West%20Midlands.pdf

kinh

kingstreet wrote: »

Orbit doesn't offer mortgage advice. I never suggested it did. What I actually said was;-


which was my way of suggesting you ask Orbit for a copy of their list of approved mortgage brokers.

I may have been a little clumsy in my explanation. Here is the list, which I found by googling "orbit homebuy agent approved IFA" and choosing the second option. The link to the list is about half way down in the FAQ which starts " I know nothing about mortgages..."

http://orbithomebuyagents.co.uk/mediaFiles/downloads/58653449/Independent%20Financial%20Advisers%20covering%20the%20West%20Midlands.pdf

Contacted one of them, explained everything, said everything stacks up, but it's down to the credit score conducted by Halfiax.

Said if I wanted to call back after the date when halifax updates their system they can go through with the application for me.

I think I will stick to the newbuy agent. I have a meeting with a halifax mortgage advisor on the 16th so hopefully all goes well.

Can't really do anything until the 15th im basically in limbo.

I think the searches might do it in for me, which is a real shame, but im keeping optimistic and I'm praying.