Halifax application causing stress

Equatorial_Guinea

To the original poster:

I was in the same position you were in in 2009 back in 2007. I also had 2 missed mortgage payments last summer... Well, not missed, but 1 day late :-( - I could kick myself for that... anyhow it shows up on my credit as missed.

I also applied to Natwest - got AIP but full application declined.

I went directly to Halifax (as they are my current mortgage provider). It took 3 months but the full application was approved but at 85% LTV - they wouldn't agree to 90% LTV. Also, I switched from Interest only to repayment. The new mortgage is £20K less than the old one.

Had to complain twice about the slowness and got £450 in compensation. Additionally the mortgage product gives me £500 cash back. FYI the application fee was £495.

So, I've been unhappy with the slowness, but once I complained my case was marked 'urgent' - although not urgent enough as I had to complain once again.

Despite the hiccups, I am overall satisfied, but yes dealing with Halifax for this mortgage application has been very stressful.

spiritless

amnblog wrote: »

You have an arrangement to pay on your credit file?


Presumably the broker has seen this.

Yes, she had our reports from the outset. And further down the thread I corrected myself - the AR is satisfied but still reported.

DebtFree2012

betmunch wrote: »

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

Can you elaborate - we are going to see them on Wednesday.

betmunch

DebtFree2012 wrote: »

Can you elaborate - we are going to see them on Wednesday.

Sure, the Halifax Mortgage Promise is simply unreliable.


The check they do at full application is the one that matters and will often give a different result.

teffers

betmunch wrote: »

Sure, the Halifax Mortgage Promise is simply unreliable.


The check they do at full application is the one that matters and will often give a different result.

Sorry to confirm this was the case for me.

DIP obtained from Halifax after full disclosure of my adverse (1x 5.5yr old satisfied default)

I queried the usefulness of the DIP, my (then) broker told me he'd NEVER seen anyone fail at application level after being issued one by Halifax.

Full application put in for £10,000 less than the dip (80% LTV) and it failed instantly.

Hopefully the OPs will be fine though.