HALIFAX REFUSE MORTGAGE - WHO NOW - Please Help?

Gaz83

Don't go on about the 999 credit rating, it's worthless.

pinkbubbley

Santander have been pretty good, just remortgaged with them. We were both in our overdrafts at the time - both of us good have income but I was just really poo at moving money over. My partner gambles online and it was never mentioned when we submitted bank statements. Remortgage went through in about 2 weeks give or take, and you get free valuation, solicitors fee contributions etc.. Emily

- forgot to mention we initially went through Halifax, who were complete idiots in regards to our bank statements but then we paid for a broker and he knew exactly who would take us! bing bang bosh it was approved within hours.

Thrugelmir

pinkbubbley wrote: »

- forgot to mention we initially went through Halifax, who were complete idiots in regards to our bank statements

Lloyds recently narrowly scraped through the EU stress tests. So there's other factors in play. With a game being played at a far higher level. Reducing mortgage lending by raising lending criteria maybe one such action.

kiddakidda

EXPEDITE74 wrote: »

Hi All,
Am Changing Residential into Buy to let and Buying a new Property my dream house. - £365,000 and placing down £78,000 Deposit using some equity Old house bought for £78,500 in 2006 and Now Valuation at £167,000 so
Loan amount £298,000 for new property
Term of mortgage 25 years
Deposit £78,000
Purchase price or valuation £369,000

******CREDIT RATING EXCELLENT - 999
EARNING £600.00 Per Day
I am With HALIFAX bank*******

I work Offshore and am classed as self employed as my wage goes through an Umbrella company.

Arranged Mortgage Through Financial advisor for new Offers over £369,000 house

Offer accepted on property 27/10/2014 £365,000

2 x Searches on experian ID check and Mortgage quotation HALIFAX 27/10/ 2014

Received Illustrations AIP HALIFAX for each one on 30/10/2014

5 Searches showing on Experian (All Halifax Mortgage Quotation) 30/10/2014

Valuation received fro new residential property All good :-D 7/11/2014

Received Valuation for my old residential now Buy To Let 7/11/2014

Paid full valuation funds 7/11/2014

:jOffer Received for Buy To Let 8/11/2014:j

Question from Halifax to my financial advisor 14/11/2014

Receive email Question off my financial advisor 18/11/2014

21/11/2014 Receive email from financial advisor -
I am just on the phone to Halifax who are saying they wont proceed with the mortgage, head office have looked at it and are concerned that about the number of times you are using your overdraft when you are increasing your payments by £1,000 a month and that you have a number of payments to gambling firms, I need to look at the alternatives for you.
In the meantime can you get me your SA302’s for tax year 2013-2014 and 2011-12.
Sorry the news was not better.


First of all The gambling excuse is Utter nonsense "Whats the difference with going out getting drunk every day?" Whats the Difference with buying 20 cigarettes a day?" - No Excuses its BULL***T!!!!!


The overdraft thing is something thats just been there for years and ive forgotten about it - removed it yesterday!!!


Now where I need Help - Which company would accept me for a few gambles, or do i now need to go to a bad credit rating lender even though ive not got a bad credit rating (EXCELLENT @ 999) and yes i do know now theres a footprint on my file blah blah blah i just need to know where to go next if anyone can help please?? (Sorry but this is petty and a normal thing for a lot of us to have a bet now and then - nothing wrong with it i spend less than smokers!)


Thanks in Advance and excuse my rant am gutted as they know i can afford it and probably the safest borrowers are being denied mortgages now a days too!:(

I never normally help those from the dark side of Small Heath but you need a broker

The bells are ringing.........

gazter

amnblog wrote: »

you seemed to know all about it!

I've never had a gambling problem. But I could see how 'chasing a loss' could get me into trouble. Grand national only time for me.

Manichouse

Out of interest would the same rules apply for someone who plays the national lottery or postcode lottery? As technically they are also forms of gambling albeit on more controlled scale

EXPEDITE74

So would a broker be better than a financial advisor or they similar?

tvfreek

The terms can be interchangeable but a broker would be best.

A good broker would have have checked your statements before applying for a mortgage not wait for the underwriter to throw them back at him.

stator

Manichouse wrote: »

Out of interest would the same rules apply for someone who plays the national lottery or postcode lottery? As technically they are also forms of gambling albeit on more controlled scale

I would think small amounts on a lottery would be ignored, there's such a small chance of winning and the stakes are so low you wouldn't expect it to cause a problem.
I suppose if someone was spending lots of money on those instant win games or scratch cards that could easily be a problem, I guess they would just look at the amount you spend on the lottery.

SuperSaver123

Manichouse wrote: »

Out of interest would the same rules apply for someone who plays the national lottery or postcode lottery? As technically they are also forms of gambling albeit on more controlled scale

I had small amounts under £10 on national lottery taken a couple of times on the 3-month bank statements we provided to Natwest and Woolwich and none of these banks had a problem with it. But I must say I dont spend more than £15 a go or even a month so banks didnt have an issue with it. OP must have had higher amounts or different sites.