A,B or C? Halifax

Newbie_loan

Hi,
Currently looking at a shared ownership flat 25% share 45,000.
Looking at 20% deposit so 9k

Applicant 1
Balances
Credit card 1799.00
Creditcard 500.00
Loan 430 = 90 a month.(can have this paid before morgage app)
Income 18500 goes up 1st of April to 20,000

Applicant 2
Balances
Creditcard 2100
Creditcard 500
Oversraft 1000
Travel 150
Income 14000


What sort of grade from Halifax are we looking at are we likly to be approved??

Also who do Halifax use when credit searching?

I have checked out the affordability calculator!

Do you think we could easily pass or would they want some checks and to see lots of statements etc...

Thank you for you help.

Newbie_loan

Any ideas welcome? Maybe not want grade but if I'm likely to get this accepted?

Thrugelmir

Where's the deposit coming from?

Creditcard 2100
Creditcard 500
Oversraft 1000

High level of debt for a £14k income. Overdraft is a potential concern as well. As points to poor personal financial management.

Newbie_loan

Deposit is a gift. From parents broker seems halifax is best option loan would be easily gone before full app

Newbie_loan

Overdraft is on a student account. And is interest free

Jhoney_2

Not sure what the experts on here think, but you may be better off using the 9k gift to pay off the debt and save your own 20% pot before you apply.

Hope it goes well

Newbie_loan

Thanks, as the flat we are in is being sold it's not really a option it's buy or rent again and with rent on the rise in this area it's like 850 for a 1 bed flat

amnblog

You are asking questions that can only be answered by the Halifax computer systems.


Trust in your broker - it's their job to accommodate you on the best option possible.

Jhoney_2

Newbie_loan wrote: »

Thanks, as the flat we are in is being sold it's not really a option it's buy or rent again and with rent on the rise in this area it's like 850 for a 1 bed flat

Can you flatshare? it seems you are 5-6K short, so as advised, speak to your broker.