Halifax - totally confused!!

Itismeyy

Hello we applied for our full mortgage about 2 weeks ago. We want to buy a £500,000 house putting £200,000 deposit so 60/40.We want to borrow £300,000 according to our mortgage advisor this is fine. We got the agreement in principle too which offered that amount.
I'm employed on 18,000 a year and hubby is self employed. Average money through companies and dividends are £50,000 a year.

Now they got back to us last Friday and we passed the checks and got offered ...... £60,000!!!! 😳😳😳😳😳

Now to say I'm a bit shocked is an understatement.
They told the broker one of us has outstanding credit for something that's 15 months old. Well we've big checked our experian etc and nothing. I have one credit card that has £200 that's it!!! No loans or anything between us. When the broker asked if they had taken the dividends into consideration etc they said they hadn't seen that paperwork!! The broker had to email them other the page they need to look at!!
Now they've had most of the day Friday ( although the underwriter was leaving early) , yesterday and today and we've heard nothing!! Broker has been unable to get hold of them!! Now should we be worried- we have no idea what's going on? Maybe they are rechecking documents as they missed things out originally?? I'm at such a loss??? Thanks guys

HappyMJ

Itismeyy wrote: »

Hello we applied for our full mortgage about 2 weeks ago. We want to buy a £500,000 house putting £200,000 deposit so 60/40.We want to borrow £300,000 according to our mortgage advisor this is fine. We got the agreement in principle too which offered that amount.
I'm employed on 18,000 a year and hubby is self employed. Average money through companies and dividends are £50,000 a year.

Now they got back to us last Friday and we passed the checks and got offered ...... £60,000!!!! 😳😳😳😳😳

Now to say I'm a bit shocked is an understatement.
They told the broker one of us has outstanding credit for something that's 15 months old. Well we've big checked our experian etc and nothing. I have one credit card that has £200 that's it!!! No loans or anything between us. When the broker asked if they had taken the dividends into consideration etc they said they hadn't seen that paperwork!! The broker had to email them other the page they need to look at!!
Now they've had most of the day Friday ( although the underwriter was leaving early) , yesterday and today and we've heard nothing!! Broker has been unable to get hold of them!! Now should we be worried- we have no idea what's going on? Maybe they are rechecking documents as they missed things out originally?? I'm at such a loss??? Thanks guys

Neither do I. Looks like they only took your income into account. Hopefully you'll get it sorted without too much stress.

amnblog

Possible that your husbands income has been discounted due to lack of clarity on submission. When was the year end of the latest trading figures you supplied?

If your broker is sensible this will be sorted, although Halifax response times are not currently to their usual standard due to workload.