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Halifax First Mortgage Situation - HELP!
Adele92
Posts: 23 Forumite
Cut a long story short - I went through a mortgage broker as a first time buyer on a shared ownership house.
I received the mortgage offer papers yesterday that was issued on the 18th July - only to find that it was COMPLETLEY different to the KFI that the mortgage broker had given me. Originally we had agreed the term would be over 35 yrs at a 2 year fixed rate of 3.89%. The mortgage offer that I got through the post from Halifax stated 5 year fixed rate of 4.99% over 40 years. Obviously at this point I was not happy. My broker is on annual leave for the week so I immediately called up Halifax asking what is going on. All they said was speak to my broker as some information was missing on the file and that some details had changed?! The details they had on their system again had changed to a different rate and fixed term. I want to scream because they have withdrawn the offer and said the broker needs to change some details on the application. Something to do with the 'Wrong Product'?
This cropped up before we got the offer as its a shared ownership deal. So the guy from Halifax told me that its nothing to do with me or anything I need to do its to do with the broker?!?!
I then emailed my brokers manager from burchel Edwards and he emailed back saying "By the looks of it they have made an error and have inputted the wrong product. We will look into this for you, please don't worry we will sort it out for you and get back to you"
WELL I am worried. Will Halifax do ANOTHER credit check on us before they issue another offer or will they go with all the info they got from us on the 18th July? because at this rate my credit rating is going down the pan with all these searches. PLEASE ADIVSE XX (sorry to go on - stressed)
I received the mortgage offer papers yesterday that was issued on the 18th July - only to find that it was COMPLETLEY different to the KFI that the mortgage broker had given me. Originally we had agreed the term would be over 35 yrs at a 2 year fixed rate of 3.89%. The mortgage offer that I got through the post from Halifax stated 5 year fixed rate of 4.99% over 40 years. Obviously at this point I was not happy. My broker is on annual leave for the week so I immediately called up Halifax asking what is going on. All they said was speak to my broker as some information was missing on the file and that some details had changed?! The details they had on their system again had changed to a different rate and fixed term. I want to scream because they have withdrawn the offer and said the broker needs to change some details on the application. Something to do with the 'Wrong Product'?
This cropped up before we got the offer as its a shared ownership deal. So the guy from Halifax told me that its nothing to do with me or anything I need to do its to do with the broker?!?!
I then emailed my brokers manager from burchel Edwards and he emailed back saying "By the looks of it they have made an error and have inputted the wrong product. We will look into this for you, please don't worry we will sort it out for you and get back to you"
WELL I am worried. Will Halifax do ANOTHER credit check on us before they issue another offer or will they go with all the info they got from us on the 18th July? because at this rate my credit rating is going down the pan with all these searches. PLEASE ADIVSE XX (sorry to go on - stressed)
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Comments
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This happens occasionally and I have no doubt your brokers manager will sort it this week.
stop worryingI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
A product change needs no new credit check. Only increased borrowing would cause that.
Brokers submit the applications themselves using Halifax online. You enter the applicants' details, property details, mortgage amount, term, product, everything.
TBH there's very little Halifax has to do with it, other than instruct and receive the valuation and issue the mortgage offer. We even do our own amendments.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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