Halifax DIP application!

leafyant

Hi, can anyone help me 'decode' this?

This is my first EVER, any-type of mortgage application. Basically, I went through the 'mortgage promise application' yesterday, and not knowing whether I would get a yes or a no (but expecting one of those!), instead, I have received the following reply:

'Following your recent online application, we need to speak to you to continue with the process."

Followed by, 'Please call us on . . . etc'.

Is this a good thing or a bad thing? Has anyone ever received this response before, any idea what it means? Is it normal?????

Thanks so much for any and all advice!

xx

amnblog

You need to phone to find out - perhaps you keyed something wrong.


As a first time buyer I would always recommend you use a broker rather than trying to go direct to lender.

leafyant

So . . .

I called them.

Turns out, they would accept in principle...if I came up with a 35% deposit!

35%!!!!!

There's just no way on earth I can come up with 35% of a property value that isn't in an awful area. My partner and I could possible rustle up about 20k - but that means we could only find a property valued at about what . . . 70-80k?

You can't even buy a GARAGE for that!

Just don't know what to do now. Feel very disheartened.

:mad:

DpchMd

leafyant wrote: »

So . . .

I called them.

Turns out, they would accept in principle...if I came up with a 35% deposit!

35%!!!!!

There's just no way on earth I can come up with 35% of a property value that isn't in an awful area. My partner and I could possible rustle up about 20k - but that means we could only find a property valued at about what . . . 70-80k?

You can't even buy a GARAGE for that!

Just don't know what to do now. Feel very disheartened.

:mad:

Take your credit files to a broker.

amnblog

leafyant wrote: »

So . . .

I called them.

Turns out, they would accept in principle...if I came up with a 35% deposit!

35%!!!!!

There's just no way on earth I can come up with 35% of a property value that isn't in an awful area. My partner and I could possible rustle up about 20k - but that means we could only find a property valued at about what . . . 70-80k?

You can't even buy a GARAGE for that!

Just don't know what to do now. Feel very disheartened.

:mad:

Option 1


Walk around with your head bowed as if Halfiax were the only lender in the world


Option 2


Do as advised and find an alternate lender via a broker

leafyant

How do I find a good, reputable broker?

Thanks!

amnblog

Lists of local broker can be found on unbiased dot com


Remember to untick sponsored only box so that you get all listings.


Come back to us for advice on choosing a broker should you need it.

kingstreet

https://www.unbiased.co.uk then do what amn suggested!