Business Expenses and Declined Mortgage

Dave_Ham

I'm going to take a punt and say there is more here than we are being told.

Halifax are not market leading and typically not the most generous on income multiples, but they do have a place.

We have completed Halifax mortgages with much higher unsecured balances than this, so shocked this is a reason for a decline..

It personally is the most frustrating part of my job when we make a recommendation after investing time and then the client tries to cut us out by going directly.

If this is on the back of poor communication then fine, although I suspect we take that on face value on a public forum

Best of luck

amnblog

soundofsilence wrote: »

Thanks for your advice. Could I ask how you would you resolve the mess as a mortgage advisor?

By doing the job properly and professionally.

I cannot comment on why your broker did not respond to you.

Nor can I suggest if Halifax is your best option without knowing your case.

SpeedSouth

amnblog wrote: »

You won't want to here this, but I would not expect this problem to have happened if you had given the broker your business.

Why you went direct I can't fathom.

I recommend you go back to the broker, 'fess up, and see if they can get you out of this mess.

I am soon to be re-mortgaging again I hope, in the past have not used brokers for a mortgage and not had an issue, but I also use my personal credit card for business expenses and have done during both other applications.

Are brokers necessary to all or those with previous history that may go against them?

amnblog

adam81 wrote: »

Are brokers necessary to all or those with previous history that may go against them?

The world changed 359 days ago Adam - as our original poster has discovered.

soundofsilence

Dave_Ham wrote: »

I'm going to take a punt and say there is more here than we are being told.

Halifax are not market leading and typically not the most generous on income multiples, but they do have a place.

We have completed Halifax mortgages with much higher unsecured balances than this, so shocked this is a reason for a decline..

It personally is the most frustrating part of my job when we make a recommendation after investing time and then the client tries to cut us out by going directly.

If this is on the back of poor communication then fine, although I suspect we take that on face value on a public forum

Best of luck

For those who are interested paying off and cancelling the card solved the issue. In fact I didn't even need to cancel the card, just tell the lender that I would not be using it in future (which is true). Seems unbelievable, and shows how silly the criterion is anyway.

One would have thought the mortgage brokers commenting on this thread might have suggested this obvious solution...

Dave_Ham

Whoever has been advising you is not telling you the truth, as this is crazy and simply made up.

It's not about criteria, as I said that is well within criteria.

Still it appears you have got what you wanted, so all ends well.