Halifax mortgage

Stu21986

connman wrote: »

Agreed a deal in principle a few weeks ago, gathered all the paperwork and submitted a full application. Despite me and my wife having really poor credit scores they made us an offer of 85%. We have now agreed to buy a home and date of entry is 3 weeks away.

My question is are we home and dry? Or is there a chance they could pull the cash away?

Have gone through the full application? I ask cause mine has just been sent for processing and I'm in a similar boat not great credit I'm surprised I've got this far, but forked out a fair amount in fees so getting worried it won't go through

connman

Stu21986 wrote: »

Have gone through the full application? I ask cause mine has just been sent for processing and I'm in a similar boat not great credit I'm surprised I've got this far, but forked out a fair amount in fees so getting worried it won't go through

Yeah, went through the full application. Was at the lawyers last week. Just a case of waiting till date of entry to transfer the money moneys and hopefully that's us. Quite shocked at how it's went so far too. Don't think there's much risk with us though, as we are putting a 15% deposit down and paying 7% less than the valuation price.

lonestarfan

Your post reads to me as if Halifax haven't issued you with a formal mortgage offer yet. Perhaps I'm too cautious but you say you are moving in 3 weeks. That seems a bit ambitious to me when you haven't even got a mortgage offer yet. Have you asked your broker in more detail as thats what you're paying him for. Good luck with it though.

Stu21986

connman wrote: »

Yeah, went through the full application. Was at the lawyers last week. Just a case of waiting till date of entry to transfer the money moneys and hopefully that's us. Quite shocked at how it's went so far too. Don't think there's much risk with us though, as we are putting a 15% deposit down and paying 7% less than the valuation price.

Great stuff!! Yeah we've got 35% deposit so that's got to go in our favour, what documents did you have to provide? They have only asked for payslips and proof of child benefit so far. It's a long drawn out process seems to be a lot of back and forth!!

connman

lonestarfan wrote: »

Your post reads to me as if Halifax haven't issued you with a formal mortgage offer yet. Perhaps I'm too cautious but you say you are moving in 3 weeks. That seems a bit ambitious to me when you haven't even got a mortgage offer yet. Have you asked your broker in more detail as thats what you're paying him for. Good luck with it though.

We've had the offer bud . The Lawyer has the paperwork for the loan agreement. As I say, my only concern is that they do a Spotcheck and don't like what they see and withdraw the offer.

connman

Stu21986 wrote: »

Great stuff!! Yeah we've got 35% deposit so that's got to go in our favour, what documents did you have to provide? They have only asked for payslips and proof of child benefit so far. It's a long drawn out process seems to be a lot of back and forth!!

Paperwork was just bank statements, wage slips and child benefit proof. They came back and asked for more details on the wife's work as she recently changed jobs. As I said earlier, we are quite shocked by how everythings went. Fingers crossed though

lonestarfan

connman wrote: »

We've had the offer bud . The Lawyer has the paperwork for the loan agreement. As I say, my only concern is that they do a Spotcheck and don't like what they see and withdraw the offer.

That's good then Fingers crossed.

Stu21986

connman wrote: »

Paperwork was just bank statements, wage slips and child benefit proof. They came back and asked for more details on the wife's work as she recently changed jobs. As I said earlier, we are quite shocked by how everythings went. Fingers crossed though

Well it's gave me a bit of hope to hear that!! How long did it take to get to full offer once processing started? Good luck!!

connman

Full application was submitted on the Tuesday, they asked for more info on the Friday. Got the thumbs up at close of play Tuesday

connman

Just an update folks.

Got my keys last Thursday (9th).

Despite me and my wife having bad credit scores and me having a skybet account which gets used often, there are still banks willing to lend. To say we're over the moon is an understatement.

Good luck people and keep the faith!!