Halifax Credit Decisioning Team

sunilrai

Mortgage mark- this is happening to me right now. Same situation & Company.Can you pm me some advise please?

Also Herbieb can you inform me of the outcome?

andytuc

Herbieb wrote: »

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

Newbie here and may I know what exactly credit decisioning team does in Halifax. If someone's application is referred to this team, does that mean there might be something wrong on the applicant's credit history?

ExpertAdvice

Halifax credit decisioning team is their audit team. They pick up the cases randomly for further checks and put the application on hold till the time they complete their checks. Broker or anyone in the Halifax customer service team will not be able to give you any update until the decision has been made by the CDT.

CDT generally picks up cases for audit when they suspect that the income proof provided is not genuine and they do further checks to verify the income.

Since how long have you been self employed?

Are you a sole trader or director of a limited company?

Halifax requires a minimum of 1 year's accounts or SA302s to consider your application.

andytuc

ExpertAdvice wrote: »

Halifax credit decisioning team is their audit team. They pick up the cases randomly for further checks and put the application on hold till the time they complete their checks. Broker or anyone in the Halifax customer service team will not be able to give you any update until the decision has been made by the CDT.

Thank you for the details! So do underwritters in Halifax belong to this team who underwrites most of the cases that the computers cannot automatically work out?

ExpertAdvice

No, the underwriters are not part of the CDT. CDT is a level up from the the underwriters. They don't underwrite the cases but audit them as mentioned before. They pick up the cases for further checks if they are not happy with the documentation provided such as salary slips, tax papers etc.

Eironbar

What was the outcome herbib?

I'm in the same situation but mine is slightly different.

I previously wanted to buy a property as a Buy to let and with two months wasted after offer the seller were getting anxious so I decided to send multiple mortgage applications. I contacted Birmingham Midshire to put in a BTL for me as I wanted to rent out the house. The tool two weeks just to process my application so I decided to find alternatives incase they disappoint me and I lose the house. I then found this broken who adverse me that Halifax who is my current mortgage lender for my residential can offer me a consent to let should I choose to live in the new purchase and rent out my current. I went for it after discussing with my newly wife. She didn't mind which one we live in. I then put in a full application which was accepted and survey booked for Halifax for a residential mortgage. During this time I was already deep into the application process with Birmingham for a BTL. Being naive I just thought I had options to go for a residential if my consent to let is approved or just stick with my original BTL and just let out the house. I didnt know these two are under the same group with one offering strictly BTL and the other offering residential. I found myself in trouble as apparently it's wrong to do this as they lenders may think you're trying to hide something. At this time my consent to let wasn't granted yet but I decided that I would like to live it the new purchase and let out the current. I then immediately cancelled Birmingham Midshire and reactivate my application with Halifax as they were both on hold.

Now Halifax have sent my case to credit decisioning team so don't know what to make of it.

Any advice would be helpful as I don't want to get into trouble because of a house.

How can I explain to Halifax that I'd changed my mind to residential and that I didnt know the implications of not cancelling Birmingham earlier.

Can this affect my application with Halifax? Or any other applications? I have an excellent credit so don't want to mess things up for myself.

Also I'm a contractor. Started contracting from Jul 2015 so only 4 months or so. I was previously always in a full time employment.

Please advise

Thanks

Emm.