Halifax port mortgage, tears,stress and 16hrs on the phone so far!!

hoops77

Hi guys
Me and my wife have had our mortgage with the halifax for 8 years never missed a payment and are overpaying by £100 every month.
We have £170k left and have just agreed a sale of £350k on our 2 bed house in surrey
We have had a £275k offer accepted on a brand new 4 bed in Hampshire.
We're looking to take £60k off our original mortgage leaving us with £110k mortgage.
Went through an application on the phone 2 weeks ago and was completely honest and told them my wife and I had defaults on our credit file.
Was told the mortgage had passed and next step would be affordability,only to be called back 3 hrs later to be told it had been refereed to underwriters.
I called every day for almost two weeks to check on progress, even one time left on hold for 4 hours.
After a week of lies broken promises,lies and awful communication I received £350 compensation paid straight into my current account.
A senior underwriter has looked at the account and said no need for referral!!!!!!! Happy days or so I thought
Had a mortgage interview yesterday and agreed interest rate,reduced our mortgage payment per month.
But still have no mortgage offer after everything thing that's happened I'm praying that it doesn't get declined at full decision!!
Some advice would be great!!!
More sleepless nights until then!!

superdudeo

I hate to say it now but I think life would have been much easier if you went through a broker. I think it'll all work out though.

hoops77

Couldn't go through a broker our credit rating is poor, felt the only choice was to go through our current lender.
Hoping that the high deposit, current mortgage record and allready been seen by a senior underwriter may be in our favour.

suziqqq

We thought going through our current lender of 13 years with no missed payments was the best bet too but they said no. They said we no longer met their lending criteria even though we didn't want to borrow any more than was already left on our mortgage. We corrected our credit file which was wrong, went to a broker and now have a mortgage.

kingstreet

A broker could have handled the Halifax port for you.

You did not have to go direct and much of the hassle would have been avoided by the broker planning ahead.

hoops77

Even if they decline it now I will appeal it.
Was upfront from the start about the adverse credit and was referred to a senior underwiter was give the ok.
With explained we will clear all our creditors with equity and reduce our mortgage by £60k.
The fact we have had compensation regarding this application and notes to how badly this application also should be in our favour.
Simply we would be far less of a threat than we are now.

Thrugelmir

suziqqq wrote: »

We thought going through our current lender of 13 years with no missed payments was the best bet too but they said no. They said we no longer met their lending criteria even though we didn't want to borrow any more than was already left on our mortgage. We corrected our credit file which was wrong, went to a broker and now have a mortgage.

No missed payments is a fundamental requirement. Lenders will underwrite business in accordance with their current risk policy at the time of application. What else is is on your credit file is really matters.

Goldiegirl

melhuish77 wrote: »

Even if they decline it now I will appeal it.
.

Generally the only grounds for a successful appeal is if the adverse information is there in error.


If you had failed their credit scoring system you'd have been told about it already, so they fact that an underwriter has looked at it, and the application is still proceeding is positive

hoops77

Thanks Goldie.but underwriter has looked at dip stage because was open and upfront regarding defaults.
Was told by a complaints manager that senior underwriter has said no need for referral.
We've had a mortgage interview and gone through affordability, next step is three pay slips and valuation.
But the advisor keeps saying IFit goes through.
I have the complaint managers name and email who received the email from the senior underwriter. She told me the morgage had gone through and congratulations!!!
Lots of false dawns cried a few times and a real shambles but be all worth it if we get over the line.
This mortgage is life changing for my family

Thrugelmir

melhuish77 wrote: »

underwriter has looked at dip stage because was open and upfront regarding defaults.

Underwriters only become involved at the full application stage. There are various sources of information so not all available at the DIP stage.

hoops77

Thrug thanks for reply but underwriter has 100% had our application before full decision and say no need for referral and it's on the notes of the application.