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Will Halifax accept our mortgage with a default?
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I found that it is not completely down to your credit history. Halifax have just formally offered a mortgage to my partner and myself. My partner has good credit history. However, I have 4 defaults (1 over £3000) dating back to 32 months ago. I paid the defaults off within a few months of receiving letters. This was mainly down to financial turmoil from splitting up with my ex and changing jobs.
I restored my credit score over the two years to 875(I think on Experian); I also used a credit card to help with this.
We saved up a deposit and had an offer of £291,500 excepted on a house. We saw Halifax and offered £30,000 as a deposit (we are renting) and they accepted. Due to the defaults it required verifying by the underwriters prior to valuation. Valuation was accepted and then it had to go back to the underwriters for final review. We have just been informed by Halifax that a formal letter is being sent out to both ourselves and solicitor.0
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