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HELP! Halifax Mortgage Promise - Full Application
Elnino_2
Posts: 2 Newbie
Hi,
I was hoping someone on here can help me sleep at night.
Myself and my OH are first time buyers looking to get onto the property ladder. We had a meeting with Halifax who gave us a "mortgage promise". Although we did not qualify in band "A" for a 5% deposit we were classed as an "A" at 10% deposit. We accumulated the funds and have had a bid accepted for our first home! WOO!
However, from other posts I have seen Halifax only do a soft credit check at Mortgage Promise stage. I do not have any defaults or CCJ's but my Experian credit rating is deemed "very poor". I have no credit cards to my name and only repaying Student Loan and one Student overdraft. I am really worried that during Full application that we will be declined. All information we provided to Halifax was correct and can provide all the requirment's they need for proof of income etc.Can anyone shed some light on this and put my mind at ease? This is our dream home and would hate to be declined so late on.
Any help would be greatly appreciated.
I was hoping someone on here can help me sleep at night.
Myself and my OH are first time buyers looking to get onto the property ladder. We had a meeting with Halifax who gave us a "mortgage promise". Although we did not qualify in band "A" for a 5% deposit we were classed as an "A" at 10% deposit. We accumulated the funds and have had a bid accepted for our first home! WOO!
However, from other posts I have seen Halifax only do a soft credit check at Mortgage Promise stage. I do not have any defaults or CCJ's but my Experian credit rating is deemed "very poor". I have no credit cards to my name and only repaying Student Loan and one Student overdraft. I am really worried that during Full application that we will be declined. All information we provided to Halifax was correct and can provide all the requirment's they need for proof of income etc.Can anyone shed some light on this and put my mind at ease? This is our dream home and would hate to be declined so late on.
Any help would be greatly appreciated.
0
Comments
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Yes its true you could be declined at full application and that the Halifax Mortgage Promise is a load of rubbish
You will know as soon as the full application is made. If you have paid fees you have passed the credit check, just the underwriters to after that.
No point worrying until you press that button on the full applicationI 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.0 -
Ok thanks for the help. Not sure if they just base it on this alone but I take it that it may hold us back? Full application to be done on Wednesday. Fingers crossed.0
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How did you get on?:beer:0
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