chance of getting a mortgage?

leighclark1

Me and my partner recently enquired into a new development in our area, they asked us to be qualified by their preferred mortgage broker before we continued, which we did. They came back to us saying that we could afford the property through help to buy, and provided us with a mortgage promise from Halifax. Because of this, we quickly sold pur flat and paid the reservation fee at the developers. The mortgage broker has since come back to us saying that they can no longer get us a mortgage from Halifax, and that we'd failed the credit check with Santander due to a late payment on our current mortgage. We're currently in jeopardy of losing our new house, and being homeless as we've sold our current property. I've emailed and sent a letter to Halifax head office and branch to ask if they can do a good will adjustment on my account. I've also asked another independent mortgage broker if they think there's anything we can do, but as it the bank holiday, I've not heard back yet. Just wondering if there's been anyone else in this situation, or if anyone has any advice about what to do. Many thanks

kingstreet

Halifax only accepts Help To Buy - Equity Loan cases for home movers via its branches now, not via intermediaries. Intermediaries are restricted to FTBs only.

In addition, it will not accept any application where the mortgage amount is above £150,000.

Nationwide also no longer accepts HTB - EL applications from home movers.

Presumably, Santander was next in line as it will accept builder cash incentives?

Another experienced newbuild broker might be your best bet, rather than a general broker who may not be able to match your circumstances with the right lender's criteria.

Thrugelmir

leighclark1 wrote: »

and that we'd failed the credit check with Santander due to a late payment on our current mortgage.

Taken at face value this will be a concern to any mortgage lender.

tvfreek

Did you advise the broker you had any financial difficulties?

I'm assuming you have a small deposit as you're considering the various schemes.

If you've missed a payment on your mortgage recently than none of the lenders who use these schemes will be able to accept your case I'm sorry

If you told the broker about the financial difficulty then you may get slightly further.....

leighclark1

Our deposit is £40000, so of a reasonable size, i didn't inform the broker about financial difficulties, as it was only one missed payment, and it was only a day or 2 overdue as I forgot to move the direct debit date to coincide with my new pay day (had started a new job)

Thrugelmir

leighclark1 wrote: »

it was only a day or 2 overdue as I forgot to move the direct debit date to coincide with my new pay day (had started a new job)

If paid within a day or so. Then lenders maybe amenable to removing the marker.