Mortgage Credit Scoring

kingstreet

In what part of England is the property you are buying?

The HCA HomeBuy Agents are listed in the back of this Government guide;-

http://www.homesandcommunities.co.uk/sites/default/files/our-work/help_to_buy_buyers_guide_sept_2013.pdf

Orbit
Catalyst
Plumlife
Lea Valley Homes
Moat
Time2Buy
Isos
HomesHub
East Midlands Housing
Riverside
Radian
South West.

With whom has this credit search been done? You mention Halifax, but now appear to be saying something different. Is this person carrying out a credit check outside the lender system?

Either you have the wrong end of the stick, somewhere along the line, or you're being misled.

What is the name of the firm this person represents and how did you find him?

Posts crossed - typing as OP posting.

lolly3fh

I quite possibly have it wrong.
We're buying in Bucks, the agent is Catalyst. Catalyst then recommend brokers; and Taylor Wimpey advised we should submit our application to Catalyst through this broker. We can also submit our Mortgage app through them too, but that is our choice to do so or not. We've gone with them for ease.
So he has done a credit check, he says. Apparently I have passed Halifax's credit check so he no longer needs to see my credit report, he's now going to apply to Catalyst to get their go ahead, once he has that, he'll discuss rates with us and then submit full application and take the valuation fee.
This is my understanding, hopefully everything's ok...!

kingstreet

Yes. Our Crest site in Milton Keynes is in Catalyst's area, so we routinely submit RES/PIF forms for HTB cases to them too.

I'm still not convinced anything more than a Halifax soft search has been done, as the second part of post #9 mentions.

lolly3fh

Thank you, will bear this in mind!
Will phone them for a chat to confirm everything.

kingstreet

It's possible they don't even know a Halifax Mortgage Promise is only a soft search. It's pretty common knowledge among brokers, but it's not beyond the realms of possibility there's at least one broker out there who isn't aware of it.

Just keep your eye on your spending on fees, before you know for sure...

With an MP in hand, the builder will expect you to reserve, pay the reservation fee, instruct solicitors and apply to Catalyst to get your ATP all before you make a mortgage application to find out you're declined.

lolly3fh

Ah, now this bit I'm ok with, Taylor Wimpey aren't taking the reservation fee from us until the mortgage decision, after the full application has (hopefully) been approved. We've filled all the forms out, but they have specifically said they won't take the reservation fee until then. I know this isn't the norm with most builders.
My main worry was handing over money for something that wasn't a dead cert; I've been pessimistic from the start.
I will wait until the full application has been submitted, and keep everything crossed until then.

Thanks for all this!

kingstreet

Crest don't request a reservation fee until the HTB ATP is issued, but they won't wait for a full mortgage application to be submitted, so that may be of help if your builder is doing that.

lolly3fh

Full mortgage offer received by post this morning, such a relief!

[Deleted User]

Congratulations!

dj.boz

Yes, congratulations! One less thing to worry about!