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Halifax AIP Reduced Amount
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pinksoda
Posts: 4 Newbie
Hello All
I'm new to posting though have lurked for a while and find this site really useful!
I have applied for a single applicant mortgage with Halifax.
I earn 18500pa and have slightly more than a 10% deposit on on 100k house.
The AIP stated I could borrow £88500 (through a broker) and we went ahead and applied for the mortgage in full and I paid for the survey. That was Thursday last week (17/7). Since then my credit file shows the following:
17/7 - search by Lloyds Banking Group - Mortgage Quotation
18/8 - as above
18/8 - as above
18/8 - as above
Today Halifax have emailed my broker saying that they are only willing to offer £87845 - which isn't a massive problem, it's just got me worrying.
My questions I suppose are:
What has made them change their mind since they did their initial checks on 17/7 for the AIP? Does this mean they have digged deeper and found something they don't like - eg student loan? I did not decalre this as TBH it never crossed my mind. My MA didn't ask me the question but they will see this as they are in receipt of 3 of my wage slips.
Are they likely to do further credit searches/checks etc after the Survey/Valutaion? (assuming everything is ok with the survey)?
I'm not sure whether to get excited or not! Am i through the worst or as I suspect, do I have a long way to go?
Thanks in advance
I'm new to posting though have lurked for a while and find this site really useful!
I have applied for a single applicant mortgage with Halifax.
I earn 18500pa and have slightly more than a 10% deposit on on 100k house.
The AIP stated I could borrow £88500 (through a broker) and we went ahead and applied for the mortgage in full and I paid for the survey. That was Thursday last week (17/7). Since then my credit file shows the following:
17/7 - search by Lloyds Banking Group - Mortgage Quotation
18/8 - as above
18/8 - as above
18/8 - as above
Today Halifax have emailed my broker saying that they are only willing to offer £87845 - which isn't a massive problem, it's just got me worrying.
My questions I suppose are:
What has made them change their mind since they did their initial checks on 17/7 for the AIP? Does this mean they have digged deeper and found something they don't like - eg student loan? I did not decalre this as TBH it never crossed my mind. My MA didn't ask me the question but they will see this as they are in receipt of 3 of my wage slips.
Are they likely to do further credit searches/checks etc after the Survey/Valutaion? (assuming everything is ok with the survey)?
I'm not sure whether to get excited or not! Am i through the worst or as I suspect, do I have a long way to go?
Thanks in advance
0
Comments
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Please to do yet. Make sure you tell your broker everything from here on in.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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