Halifax Mortgage advice

Badgerette27

We got an AIP for 90k with a 50k deposit from the Halifax. Found a house we loved, got into a bidding war and got an AIP for 100k with a 55k deposit. We lost out on the property

The same day we found another property, fell in love with it and offered the asking price of £124950!

Went back to to Mortgage broker (Countrywide) the following day (3.10.13) and submitted a full application to the Halifax to borrow £74950 which was accepted.

We paid the survey fee and this was carried out on 14.10.13 and we got the report 2 days later, all good.

We elected to use Countrywide's Conveyancing service. A few days later we were informed our account had been paneled to another solicitor. There seems to have been a delay in the information being transferred to them, but hopefully this has now been rectified after several phone calls and the Halifax have written to us to say they have been informed of change of solicitors.

I have an unsatisfied default of £981 dating back to APRIL 2008 which we declared to the MA. My husband has 2 SATISFIED defaults (£90 each) from 2011 and 2009 which were also declared to the MA.

All my accounts are up to date since, as are my husbands other than those small defaults.

We have credit card debt but these will be settled before completion. The deposit is coming from the sale of my mums house as an advance of inheritance due to my dad passing away last year

Our MA seems confident that our mortgage will be approved with no problems but i am absolutely terrified that we will be declined because of the defaults. We were each only asked for 1 recent payslip and bank statement.

Just looking for thoughts/opinions/advice as to whether i am worrying unnecessarily.


Thank you in advance!

Thrugelmir

How much of the deposit are you contributing?

Badgerette27

The whole 50k is from my inheritance.

Badgerette27

Anyone with any experience with the Halifax in this situation?

Badgerette27

Also when we got the first AIP in May we had a letter thanking us for using the "fast track" mortgage service.

What does this mean, and is it likely that our full application has been done on a fast track basis?

Dave_Ham

Firstly, I would be surprised if the adviser at Countrywide has declared these defaults irrespective that you have been honest.

Halifax have increased their scorecard on credit checking in the past 4-6 weeks, so I can only assume these were at a previous address, linked address or in your case at the 3-6 year zone.

Have you had an official mortgage offer, you would get a postal copy too?

With a valuation done on the 14th, you should have by now and would be chasing this.

Halifax can and do check credit files manually post application, although would have expected this to have been done by now.

Push your adviser as whilst I appreciate you canvassing opinion on here to put your mind at rest, no solace will be provided as each situation is unique.

Sometimes things get picked up and sometimes they do not. Depending upon the value of your defaults, I would be surprised if you hit criteria on a full credit score but you are further progressed than I would expect so you may well be in luck.

Badgerette27

Thank you so much for your reply Dave. I will chase it up today. I just didn't want to harass my MA too much lol!

Badgerette27

On my credit report the default shows under my current address but the account was opened in 2003, 3 addresses ago. I was only asked for my last 2 addresses (current 4 years, previous 2yrs).
Just spoke to my solicitors, they haven't heard anything yet.

Currently stalking the post woman!

Also there are no searches showing on my credit report (equifax and noddle) but there are 4 on my husbands (1 unrecorded and 3 mortgage quotation)

Badgerette27

Spoke to my Broker this morning and he has emailed me our OFFER!!!!

WHOOP!

Now i can't for the life of me remember what i'm supposed to do next, i was too excited lol

Zoetoes

Badgerette27 wrote: »

On my credit report the default shows under my current address but the account was opened in 2003, 3 addresses ago. I was only asked for my last 2 addresses (current 4 years, previous 2yrs).
Just spoke to my solicitors, they haven't heard anything yet.

Currently stalking the post woman!

Also there are no searches showing on my credit report (equifax and noddle) but there are 4 on my husbands (1 unrecorded and 3 mortgage quotation)

I am waiting for a Halifax offer too, I have less than perfect credit file. I should know tomorrow or the next day as it's with the underwriters now due to the valuation bloke (they out sourced on this one) writing a load of balls and Halifax and the broker having to present evidence to have the valuation amended.

I have been concerned as no searches are showing up on Equifax or Noddle for me either, I'm wondering whether they'll credit check last minute even though the broker said they'd done it at application.

Congratulations on getting yours!

Zoetoes

Dave_Ham wrote: »

Firstly, I would be surprised if the adviser at Countrywide has declared these defaults irrespective that you have been honest.

Halifax have increased their scorecard on credit checking in the past 4-6 weeks, so I can only assume these were at a previous address, linked address or in your case at the 3-6 year zone.

Have you had an official mortgage offer, you would get a postal copy too?

With a valuation done on the 14th, you should have by now and would be chasing this.

Halifax can and do check credit files manually post application, although would have expected this to have been done by now.

Push your adviser as whilst I appreciate you canvassing opinion on here to put your mind at rest, no solace will be provided as each situation is unique.

Sometimes things get picked up and sometimes they do not. Depending upon the value of your defaults, I would be surprised if you hit criteria on a full credit score but you are further progressed than I would expect so you may well be in luck.

Does this mean they are being more 'strict'?