Recent halifax mortgage anyone?

Taggo

Hi guys, new to the forum so if this has been asked or I'm in the wrong place go easy, u were all new once

I'm in Scotland btw.

Basically I'm slightly worried now I've had an offer on a place accepted it's all gonna go south and wondered if anyone has recently had a mortgage with halifax, especially after the new rules came into place?

My story:
Given a promise in march with partner. Promise 162k on a 95%ltv

Didn't look at much as didn't have full 5% deposit

Couple weeks ago almost at 5% of what I wanna pay, parents offer the rest.

Initial promise run out so on 3/7 go for new promise (advised to as rules changes) get another promise basically same amount.

Find house, home report value 87k (home report carried out 30/6) offer of 85k accepted.

Mortgage application booked for 3 days time, now I'm stressing, which I know is doing me no good but anyway.

I'm in a stable permanent job and due a 6k pay rise next year, not that it really matters, gf also in ft permanent job.

As a youngster I was like many folk an rubbish with money, but since 2008 I've been a grown up :rotfl: and missed no payments on anything and had defaults (2) come of my file in March this year. On my file I have a settled car finance account which was never late, my phone again no late payments and my overdraft (cleared in full every pay day) also have a car but not on my file, pay my parents £242 a month for that.

Having trouble accessing gf's file, certainly won't by Wednesday, but she thinks possibly 1 or 2 missed payments about 2 years ago but only had a small overdraft now (cleared each month) her phone (no late payments) and a next account (£75 outstanding and at least minimum payment but often more each month)

Basically I'm wondering if anyone has a promise turned down at full application recently, I know it happens but wondered if promises were stricter now, and if anyone in the know thinks its likely for us, another reason I ask is I think I could prob get the 80k mortgage alone on my wage of £24.4k but would rather not if I don't need to. The MA basically said that cause we got the promise we'd get the mortgage but I'm not sure if I just made that up

Any info appreciated, especially from very recent halifax customers. And sorry for waffling!

breakingbad

I'd say that if you told the truth (100%) on the initial application, you're 95% likely to get the mortgage after being accepted at DIP. Would also be very cruel of them to instruct a £400 valuation then decline you for another reason.

Taggo

To the best of my knowledge it's 100% truth, even downplayed my overtime and told them about the car payments to parents that wouldn't show. Just the fact we can't access the girlfriends has made us worry a bit. Don't suppose you know, if we are turned down am I able to apply straight away again in just my name?

As far as the valuation, in scotland they will take the home report valuation providing it's with an approved company, which it is. So not really worried about losing any money as I'm paying nothing up front. Just worried about losing a house we both love.

Hopefully that the fact we are asking for less than 50% of the promise may help aswel.

Sarahgee1990

Hey,

I had 3 DIPs for 90k 95% LTV and each one of them got knocked back at the full application stage even though the place i put the offer in to is only 64k. Santander wouldnt do a 95% ltv on a flat this is a new thing supposidly and their hush hush about it..Natwest strangely didnt want to give me a mortgage for lesser amount than the DIP which even my mortgage adviser found odd and Halifax came back to me to say they would offer me a 90% LTV not 95% .. I managed to get the other bit of the deposit and hopefully move in in 2 weeks but genuinyl i was sick with stress if its for you it will happen !

Taggo

Did they say why they would only give u 90%? Wether I'd be able to scrape together another 5% in time is unlikely! Yea it's a stressful time!

Also did u hold an account with halifax?

Cheers

Sarahgee1990

Na they didnt say ! Ive got a bit of credit .. Overdraft .. Credit card .. Car on finance but never missed a payment so who knows, im only 24 but these banks dont help at all to get on the property market!
I dont have an account with Halifax nope!

Taggo

Ok thanks for the info, hoping as it's who I bank with havin a bit of history will help!

Glad ur getting there anyway!

ChaddyBouy

We had a 95% DIP with Halifax and then upon full application got downgraded to a 90% offer. Clean credit records, only thing that could have been a negative was my partner didn't have any open credit accounts.

We got a 95% elsewhere though, wouldn't worry about it - you'll be fine.

Taggo

Hopefully won't have to but do you mind telling me who the 95% you got was with?

Thanks

ChaddyBouy

Teachers Building Society, my partner is a teacher which made us eligible!

Taggo

Just a quick update on my situation. Feels like there's a lot of doom an gloom when I read this forum but I guess that's the nature of it and not many people write about things going easily for them!

Well, I done full application last Wednesday, MA told me it would all be fine, true to her word called me today to tell me exactly that, offers in the post! Dunno what I was worried about !