Halifax Credit Decisioning Team

Herbieb

I applied for a mortgage via a broker about a week ago with Halifax - this was an amended application because the seller pulled out of the process on a previous house that I was applying against.

The valuation was instructed but I have since heard that it has been referred to the credit decisioning team and the valuation cancelled. My broker cannot give me details as to why - could anyone shed light?

I'm panicking because it's been such a volatile process already and I want the vendor to remain reassured. My credit score is excellent and I have no adverse credit/CCJs etc. I can also afford the mortgage repayments and my submitted payslips/business slips prove income and deposit.

Please help me understand why this has happened/what they're looking for!

Thanks

kingstreet

Business slips?

Herbieb

Apologies - I am self employed. I was referring to my business bank statements

GMS

Have you sent SA302's?

Do you have accounts?

Why send payslips? What percentage of the business do you own?

Herbieb

I don't have accounts but the broker I am using deals with individuals like myself who are only recently self employed. I own 100% of the business and the payslips are submitted to prove what my spending patterns are like and confirm a monthly income (which I pay myself), I'm guessing

GMS

How long self employed?

Suspect your broker is trying to fudge it through as employed hence the cancellation

Herbieb

The company I'm going through specialise in contractor mortgages so I don't think they're passing me as employed ... it's so confusing. A random audit has been suggested

Mortgage_Mark_2

Herbieb wrote: »

The company I'm going through specialise in contractor mortgages so I don't think they're passing me as employed ... it's so confusing. A random audit has been suggested

Contractor?

Where do payslips come into it?

Which broker? (I'm a senior broker at one of the largest contractor specialists)

Herbieb

I've gone through contractor mortgages made easy.

They requested that I send in personal bank statements, business bank statements, proof of deposit etc. I've sent those in - I said 'payslips' in error. I meant they're using my personal statements to prove that I pay myself a steady, consistent income.

Herbieb

I'm just confused as it all seemed to be going swimmingly and I was reassured that it should go through just fine. I would like to understand the reason and purpose of it being passed to the CDT.

Thank you for your time

Mortgage_Mark_2

Ah I see - I'll respond via your PM, HerbieB, rather than on here.