Are Halifax a good option?

Smoothone

Hi all, we have today had an offer accepted on a 3 bed semi costing £195K

Me and my wife are FTB with currently a 10% deposit
Our joint income is around £47k

Our credit history is as follows:
Myself - No outstanding debts, but around 6 late payments on various on credit accounts dating back 4 plus years ago. Also I had a few payday loans well over 12 months ago (which don't appear on my equifax report, but does on call credit)

Wife - also clean but has 1 or 2 late payments on a mobile phone contract back in her student days back in 2007.

I have seen a 2yr fix 4.49% deal with halifax (direct only i think) which also includes stamp duty paid.

We have also a nationwide save to buy account.

What do you think of our chances?

Thrugelmir

With the Halifax, the stamp duty gets paid. However there's a high product fee to pay.

How long have you held the NW Save to Buy account. As this may negate the fact that you've used Pay Day loans if its been a while.

Smoothone

Hi Thrugelmir, yes the product fee however is £995 (I would be adding this to the loan of course)

I have held the save to buy account for 12 months now

Dave_Ham

From the information provided you should be fine.

Without crunching the numbers I cannot be sure, although if you can get to a 10% deposit would imagine the Halifax deal is better.

All the best

Smoothone

Thanks Dave

Smoothone

Just an update. We applied over the phone on Thursday.We passed all the the checks (only needed to provide one months bank statement). Valuation took place on Tuesday. Mortgage offer issued on Wednesday.Well done Halifax