Halifax application causing stress

spiritless

My broker doesn't appear to be worried and maybe I should trust her more however Im stressing...

Brief history is poor credit, several loans and credit cards put on 'arrangement to pay' in 2009, all but one paid off now.

Husband had 24k pay rise 3 months ago, I'm back at work after having kids things are on the up.

Broker obtained AIP with halifax, who said they'd lend us £327k.

House found and offer accepted for 270k. 10% deposit (half of which is gifted).

Broker tried to get DIP with natwest as rate is better, declined instantly, as I knew it would be. She still remains confident that halifax will offer us a mortgage.

Few questions, if I may..
What do you think our chances are of getting the mortgage?
If Halifax say no, is aldermore a better bet (albeit more expensive)
How long from hitting 'send' on her computer before we know if we've passed the credit check aspect?

Im a natural born worrier but I need facts to feel better- if if they're negative. Any advice greatly appreciated.

betmunch

The key here is is she has hit send on the full app or just the AIP?

Halifax AIPs are the worst in the business so dont really help.

The credit check they do at the full app is as through as they go creditwise so assuming this is done and passed, and your broker is competent then you should have nothing to worry about

spiritless

I don't think so yet, she took details over the phone on Friday and asked for a list of docs to be sent - wage slips, bank statements etc. Shes not asked for any money yet so I can only assume she's not hit send.

Her parting words were 'well as long as the paper work you provide is accurate, there will be no problems as you've obtained the AIP".

betmunch

I disagree. Once the full app is submitted then you should be fairly sure if you can prove everything you will be agreed.

Just my opinion on Halifax

spiritless

It's what we've read elsewhere too.

Just checked our credit again, the arrangement to pay was on an account settled in 2012 but is reported until 2018. Is that likely to be any better for us? It was an acc just in my husbands name

betmunch

Its nothing you can change no so dont worry about it.

Best thing you can do is have your advisor convert it to a full app and see how that turns out.

spiritless

Well the valuation has been instructed so I'm feeling more hopeful

spiritless

I just checked 'check my file' and there are no searches recorded from halifax. There are 2 from Barclays (associated with the failed Woolwich DIP?). Why?

amnblog

You have an arrangement to pay on your credit file?


Presumably the broker has seen this.

Malmo

spiritless wrote: »

I just checked 'check my file' and there are no searches recorded from halifax. There are 2 from Barclays (associated with the failed Woolwich DIP?). Why?

Check My File shows credit account data for Equifax & CallCredit/Noddle only.
It does not show credit account data for Experian, only public record data that Experian holds such as CCJs or electoral roll information. This is stated in their Terms & Conditions as quoted below:

The information we provide may not be identical to that which can be obtained elsewhere. For example, we do not provide account information from Experian, although we do provide Experian's version of the Electoral Rolls/Registers, persons linked to you on the Experian database, Experian's record of insolvencies including bankruptcy, sequestration, IVA records, Trust Deeds, and similar, together with Experian-sourced court records including High Court Judgments and County Court Judgments, including the court, plaint number and status of such judgments, and whether settled or not

There is little value to a consumer in paying for any subscription services at all, from any company. Simply obtain the £2 statutory report from each agency when you need them.

chanz4

Experian they search, also if valuation requested should be fine unless it gets pulled for checking