Do I need a new Broker

Jason_Bourne_2

Sorry for starting a new thread, I had asked the question in the "waiting on a decision thread" and the "Halifax thread".


Completed a DMP 12 months ago, have various defaults all over 3 years old and satisfied 12 months. Gave broker my 3 credit files to look over. My credit behaviour has been very good since the date of last default (no late markers in over 3 years) and I have had a credit card for the last 12 months paid in full every month.


2 of my defaults are with Bank of Scotland, one for an overdraft, settled in full. The other for a credit card which they offered me a full and final settlement which I took.


Mortgage just now is with the Halifax, has been for 5 & 1/2 years, all payments in the history are on time. Al my current accounts for me and my wife are with them also.


The broker has come back with a DIP with Halifax, LTV is around 73%. I'm really surprised at this given my 2 defaults with Bank of Scotland. Broker says I have nothing to worry about, in their experience with Halifax this will go through no problem, I wouldn't have passed their credit scoring if it wasn't acceptable.


I've checked our Experian and it shows mortgage application search by Halifax.


Am I right to be concerned?
I really don't want to spend time applying for a mortgage that isn't going to happen.

kingstreet

There's nothing we can tell you about your application. You need to speak to your own broker.

I can't see the point in jumping ship until you know if this application is going to be successful or not and there's no point anyone on here speculating about the outcome...

Jason_Bourne_2

kingstreet wrote: »

There's nothing we can tell you about your application. You need to speak to your own broker.

I can't see the point in jumping ship until you know if this application is going to be successful or not and there's no point anyone on here speculating about the outcome...

But in your experience Halifax may accept an application from someone who has had 2 defaults on credit file with them?


If the answer is yes I'm quite happy to charge on, I'd just find it surprising if this is the case.


Many thanks for your input.

kingstreet

One thing I've learned is never try to second-guess what Halifax will, or won't do.

On the face of it, I'd have said no chance. However it has been submitted and appears to be proceeding. It's possible the rest of your case was sufficiently strong that you scored high enough for the adverse to not drag you down to a decline.

You're just going to have to wait for the conclusion and then start thinking about alternatives if the worst happens...

Jason_Bourne_2

Thanks, appreciate it.