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Halifax and payment default

Shoppadolley
Shoppadolley Posts: 62 Forumite
Seventh Anniversary 10 Posts Name Dropper Combo Breaker
edited 17 November 2013 at 5:05PM in Mortgages & endowments
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«1

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Yes, it could lead to a decline.

    But it might not.
  • ACG
    ACG Posts: 24,896 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    How much is the deposit? (As a percentage of the purchase price).

    A debt management plan is quite high on the list of difficult things to work around.
    I am a Mortgage Adviser
    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.
  • Shoppadolley
    Shoppadolley Posts: 62 Forumite
    Seventh Anniversary 10 Posts Name Dropper Combo Breaker
    edited 17 November 2013 at 5:05PM
    ......................
  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    At that age it probably won't show up on a Halifax MP soft-search.

    Was it at his current address, or a previous one?

    If the latter, it has definitely not yet been picked up.

    All you can hope is the overall strength of your case is sufficient to get you a pass at full application stage.
    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.
  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Shoppadolley wrote: »
    Deposit is £85k on £300k but that's shared equity
    (only 5% coming from us)???!!!
    The figures don't match.

    Shared equity would normally be 20% maximum (Help To Buy - Equity Loan?) or £60,000 and 5% deposit from you is £15,000 on £300,000, so that should be £75,000 in total and a £225k mortgage, 75%.
    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.
  • Shoppadolley
    Shoppadolley Posts: 62 Forumite
    Seventh Anniversary 10 Posts Name Dropper Combo Breaker
    edited 17 November 2013 at 5:04PM
    ...................
  • Shoppadolley
    Shoppadolley Posts: 62 Forumite
    Seventh Anniversary 10 Posts Name Dropper Combo Breaker
    edited 17 November 2013 at 5:05PM
    ........................
  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you've got a DIP from Nationwide, I'd be surprised if you get tipped out by Halifax.

    Nationwide offers 4.5x income, but you need 5x from Halifax?

    So, you are putting down 5% (£15k) and the shared equity is 23.33% (£70k)? That's weird. How does it work? What's the scheme?
    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.
  • Shoppadolley
    Shoppadolley Posts: 62 Forumite
    Seventh Anniversary 10 Posts Name Dropper Combo Breaker
    edited 17 November 2013 at 5:04PM
    .......l...........
  • Shoppadolley
    Shoppadolley Posts: 62 Forumite
    Seventh Anniversary 10 Posts Name Dropper Combo Breaker
    edited 17 November 2013 at 5:03PM
    ......................
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