Nervous halifax mortgage application advice please?

Rachelbr21

I'm very nervous me and my partner are meeting with our mortgage advisor on Tuesday to do our mortgage application for halifax. Are Halifax strict on who they lend too? We have put a reserve on a house but I'm tempted to back out as I don't want to face being rejected for the mortgage. We are doing the help to buy - equity loan. They've gave us an AIP as long as we put a bit more of a deposit down which we are doing. The deposit has been gifted to us.
He has a few late payments marked on his credit file as 1s for small amounts as he just forgot to pay on time. He since set up a dd for these and they've not happened again.
I have a car HP agreement and an overdraft which I use to go into monthly but now last month I managed to not use it and reduce it.
We have also cleared any credit card balances we had.
What do u think our chances are?

ethank

I can understand why you are nervous, and it is completely an emotional process. I remember when we originally got an offer from halifax and then they would not accept some of incentives from the builder (stamp duty) - we were then told Nationwide - but broker said Nationwide can be very picky - I was so nervous..... but it went through.

You just need to hold your nerve. An AIP is a good start and the next steps are the full application and the valuation.

Best of luck!

chanz4

halifax seem to be relaxed, I know someone who has just bought with the same situation as you and halifax accepted.

Din85

I'll let you know !

We are trying our luck on the 95% mortgage guarantee scheme, with Halifax.

I have a late payment (marked as a one) from august this year, paid off the credit card... Cancelled the DD 6 weeks later and and then missed an interest payment :mad: it was only £10 !

Also a few random ones from me and the other half from over 2 years ago now.

We had the AIP, and full application is in, the valuation should have been today, I'm also bricking it :eek:

I should know early next week so I shall let you know.

Oh we also have a loan, so a fairly similar position to yourself.

Rachelbr21

Din85 wrote: »

I'll let you know !

We are trying our luck on the 95% mortgage guarantee scheme, with Halifax.

I have a late payment (marked as a one) from august this year, paid off the credit card... Cancelled the DD 6 weeks later and and then missed an interest payment :mad: it was only £10 !

Also a few random ones from me and the other half from over 2 years ago now.

We had the AIP, and full application is in, the valuation should have been today, I'm also bricking it :eek:

I should know early next week so I shall let you know.

Oh we also have a loan, so a fairly similar position to yourself.

Yeah let me know how you get on please!! Hope it all goes through for you:) I thought they only did the valuation once they'd accepted your mortgage ??
We reserved our house last Saturday but didn't arrange to see the mortgage advisor until Tuesday because my other half wanted some time to get all his documents together. :mad: its driving me crazy the wait is.

Din85

Rachelbr21 wrote: »

Yeah let me know how you get on please!! Hope it all goes through for you:) I thought they only did the once they'd accepted your mortgage ??
We reserved our house last Saturday but didn't arrange to see the mortgage advisor because my other half wanted some time to get all his documents together. :mad: its driving me crazy the wait is.

As far as I have read so far, they do the valuation at the same time as the underwriting, although the system does have to accept all the information and credit checks before it will allow card details to be taken for the valuation.

Still nervous though, they might under value the house, might decide they don't want to proceed, I really don't know.

Fingers crossed though, and I will let you know when I get any news !

Edit, gifted deposit also.

chanz4

halifax can pull upto draw down

Din85

chanz4 wrote: »

halifax can pull upto draw down

I'm fairly sure any lender can withdraw an offer up untill that point.

ethank

Din85 is right. You don't have a mortgage until your solicitor has the money.

chanz4

Din85 wrote: »

I'm fairly sure any lender can withdraw an offer up untill that point.

Never said they dont, but the op is talking about halifax.

001LJ

You need to hold your nerve, it's awful but you have committed and might as well see it through! Just don't give up any rented accommodation until you have got everything confirmed exchanged contracts and got a moving date! Good luck