Halifax Mortgage Query

Janeyxox

Evening All,

Looking for some advice please regarding mortgage application. We have put a full application in today with Halifax through a broker which we knew from day 1 from the DIP that it would need to be looked at by the underwriters. Our broker was quite surprised we passed the DIP as my husband has a couple of defaults which are nearly at the 6 years however anyway she has said to put the full application and is 90% sure because of the DIP it would be ok. We then saw her last night who said she spoke to Halifax's BDM and he said it looks a bit strong for them so now i'm obviously more worried. We do have a subprime lender who will lend on us if we need too however these require 80% LTV as opposed to our 85% we currently have. Which means using money from my mum (I really dont want to unless we really have too and it looks like we might have too!!) Has anyone had this sort of case and been accepted by a mainstream lender like Halifax? Any help would be really really appreciated!!!

Thank you xx

Teqpro

Halifax's DIP is not is thorough, i would say its a very basic and tiny application search. When i applied for mine with them i didn't get my hopes up due to the many horror stories on this forum.

If your application fails then i would wait for your husbands defaults to fall off then check your credit rating with the top 3 credit agencies and Find a good broker

Janeyxox

Just as I thought!! They must be the worst in the business!!! How really annoying!!! We will have to end up using the money from my mum with this other lender because I really don't want to loose this house (it's such a bargain!!). Thanks for your help xxx

huntercity

Janeyxox wrote: »

Just as I thought!! They must be the worst in the business!!! How really annoying!!! We will have to end up using the money from my mum with this other lender because I really don't want to loose this house (it's such a bargain!!). Thanks for your help xxx

Absolutely not an expert in mortgage application, but was told several times that the Halifax DIP only does credit search for the last three years. A 6-years search is then carried out during full application. I think you may need to change a broker.