Halifax mortgage app! With defaults please help!

MissFTB

Hi all!
I am wondering if someone can help!
I have put an offer in on a house which has been accepted.
The offer is £240,000 and I have a 10% deposit.
I have an AIP with Halifax offering up to £268,000 with 10% deposit.
So in brief between 2010-2011 due to some tough family circumstances I defaulted on a few accounts.
My overdraft (with Halifax) approx 1300, was settled over monthly installments by 2013
Wonga pay day loan -£700 in 2011 the debt was actually written off but showing as satisfied in November 2014
Capital one- £200 from 2010 settled a few months later

And that's it.
However since then my credit record has been good, my score is 926 on Experian and I have 2 credit cards that I have never had a late payment on.
one is £3000 limit, current balance £900
Second is £1400 limit, balance is less than £10"
I also have a very and next account, as well as phone bill- all up to date!
So for the last three years my credit has been much more improved.
I am going through a broker who got the AIP from Halifax and they are going to submit the full app in the next couple of days.
My main concern is the fact that although I passed for AIP from Halifax, are they aware that I defaulted with them back in 2010 and would they actually be happy to consider me?!
I trust my mortgage broker but I'm not sure if this may have been overlooked?!
In terms of affordability, my earnings are good and I have been in the same job for the last 4.5 years. My earnings including bonus last year came to £78,000.
I am starting to really worry that I may be rejected if this default hasn't come to light already and worry I may be wasting my time as well as my credit rating if I go ahead with the full app?!
Please please help!

chanz4

Do you think its wise applying to Halifax? As you did default not that long ago really

MissFTB

This is my worry Chanz4, my mortgage broker doesn't seem concerned since I've brought it to his attention but I'm not sure if this is going to be rejected at full app?
Also I read the soft credit searches do see all of the file, they just don't leave the same as a "hard" search- is this correct? If so this default would have been taken into consideration?

As mentioned, my payments of credit cards and bills have been on time consistently every month for the past 3 years- so I am hoping this will go in my favor?

The fact that so many halifax full apps seem to be declined on here even after a DIP is seriously making me lose sleep!

Does anyone else know of any lenders willing to entertain my current situation with the defaults and a 10% deposot

Any help is hugely appreciated!! ����

chelseablue

Me and my partner are looking to get a mortgage and he has a default from 2011, so far Halifax have said yes they will lend to us; We got a DIP with Halifax yesterday, though a broker.


I told him all about my partners default (oddly enough his default was with Halifax!), and he said that when they do a soft search Halifax will definitely see his default
He advised that as the default is 4 years old now and was for less than £1000 he cant see any problems


Are you buying alone or with someone?


What is your annual salary?

MissFTB

Hi Chelseablue, sounds very similar to my situation! Except I am applying on my own.
My salary is good and I should be fine on affordability according to my broker but it's just the default with them that I am worried about!
Have you applied for the full application yet?
Sounds reassuring that your mortgage advisor doesn't tjknk there will be an issue so fingers crossed for both of us! X

chelseablue

Not done a full application yet as not found a house we like yet, I wont just buy any old thing so this could take a while!

chanz4

were the defaults at the current address?

Dinnie2006

Hi

After a 6 week wait we have got our Mortgage Offer...Like you we have gone with Halifax (Already have a Mortgage with them)

Due to Personal Circumstances we too have Defaults, (quiet large ones). They are clearly showing on our Credit Files, So Halifax were aware of this from before AIP.
Our LTV is 38%, (perhaps that helps) We are in the Process of downsizing and have reduced our outstanding Mortgage by over half..

So in answer to your question yes you can get a Halifax Mortgage with Defaults.

Brad1738yeah

Hi I know its been a while but has any of you had any luck getting a mortgage since?. ChelseaBlue we are in the exact same position as you, 1 default from 4 years ago less than £1000. We had a AIP today for a mortgage up to £186,000 with a 30% deposit. My broker says there's no need to worry, but I cant help but think we will get declined.