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halifax appleal....please help!!
saffi1
Posts: 7 Forumite
We have had an offered accepted after getting Halifax Aip through a broker.
The house is £217750 and our deposit is £22000
My husband is an IT contractor and earns gross £72000. We have only been back in the UK for 18months after living abroad for 7 years.
We have been in discussions since last year with our broker and they said Halifax was a good fit for us in our situation however........
Mortgage application was submitted two weeks ago. Took valuation fee. A few days later Halifax requested our broker look at our credit file so we sent these over. A default had shown which was five years old this august and which we satisfied in April this year....as soon as we were contacted about it. Came out the blue and 12 months after we had been back. Our bad we had no idea until then but paid it.
We were told to send in an explanation letter to the Halifax which we did. Few days later unbeknown to us our broker told us our application had in fact been declined and that the explanation letter was our appeal. Our explanation was simple....
'we had no idea and when we did we paid it. We did not declare it at application stage cos we had paid it and thought that was that for which we apologise. Along with this the broker (hopefully along the lines of.) ....... has explained to Halifax that from jJuly last year to September this we were never asked again about any adverse credit history and that when we were originally asked we did not know at that point.
Anyone got any idea what chance we have???
They have had letter 4 days only to say it will take another five days. From application they have looked at our credit file 5 times!! And again yesterday they all say mortgage quotation.
I am cross as if we had of been asked about adverse credit history at AIP stage in September this year we would have declared it and would probably not be as far down the road as we are!
Any thoughts on our chances would be gratefully received... I am beyond stressed!
The house is £217750 and our deposit is £22000
My husband is an IT contractor and earns gross £72000. We have only been back in the UK for 18months after living abroad for 7 years.
We have been in discussions since last year with our broker and they said Halifax was a good fit for us in our situation however........
Mortgage application was submitted two weeks ago. Took valuation fee. A few days later Halifax requested our broker look at our credit file so we sent these over. A default had shown which was five years old this august and which we satisfied in April this year....as soon as we were contacted about it. Came out the blue and 12 months after we had been back. Our bad we had no idea until then but paid it.
We were told to send in an explanation letter to the Halifax which we did. Few days later unbeknown to us our broker told us our application had in fact been declined and that the explanation letter was our appeal. Our explanation was simple....
'we had no idea and when we did we paid it. We did not declare it at application stage cos we had paid it and thought that was that for which we apologise. Along with this the broker (hopefully along the lines of.) ....... has explained to Halifax that from jJuly last year to September this we were never asked again about any adverse credit history and that when we were originally asked we did not know at that point.
Anyone got any idea what chance we have???
They have had letter 4 days only to say it will take another five days. From application they have looked at our credit file 5 times!! And again yesterday they all say mortgage quotation.
I am cross as if we had of been asked about adverse credit history at AIP stage in September this year we would have declared it and would probably not be as far down the road as we are!
Any thoughts on our chances would be gratefully received... I am beyond stressed!
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Comments
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How much was the default for?0
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You won't get this through with Halifax now I suspect, their systems are very black and white when you have a declined application on their system for the next six month.
You should speak to a broker with experience of contractors as from what you've said here there should be another home for this, provided the broker knows what he's doing.
Is your deposit set in stone, or could you stretch to 15%?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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 -
Default was £231. The brokers do specialise in IT contractors.0
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Apparently its with the underwriters and everyone seems confident. Ha! Not I!0
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Default was £231. The brokers do specialise in IT contractors.
...so where have they advised you go now? There are a few other lenders who will probably look at this, I'd suggest you should speak to your broker to find another home for the application.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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 -
Nobody is offering anything. They seem confident as does regional manager at Halifax. They have said no one else will touch us cos we haven't been back long and the contracting..0
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Nobody is offering anything. They seem confident as does regional manager at Halifax. They have said no one else will touch us cos we haven't been back long and the contracting..
...so he doesn't specialise in contracting then.
you've been back at least a year which is sufficient for one contract-friendly lender that I can think of off the top of my head.
I'd ask your broker to do a tad more research on contractor criteria with a few different lenders.
Good luck with the appeal though, that's undoubtedly going to be the easiest/quickiest way to go, that's for sure!I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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 -
Thank you for your response will c what happens!0
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Yes they declined/ broker said due to another default that was unpaid. So now paid and broker wants to reapply to the Halifax when the default is marked as satisfied!
Can you reapply to same lender within a month or two?0 -
Yes they declined/ broker said due to another default that was unpaid. So now paid and broker wants to reapply to the Halifax when the default is marked as satisfied!
Can you reapply to same lender within a month or two?
I can tell you from a similar position with a client that you can't reapply with Halifax within six months.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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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