Halifax HTB Mortgage

KerriA1972

Can anyone help? We originally applied for a mortgage with Halifax, based on using a 10% deposit. However, things have now changed slightly and we now only have a 5% deposit.

Halifax have agreed that we are within their affordability guidelines but say that we do not meet their internal credit score to be eligible for HTB Mortgage Guarantee. We miss out by one mark and apparently on our original application, we met the required credit score.

Does anyone have experience of this? I've asked if I can appeal against the decision and have been told I'm not able to?

Any help/advise would be much appreciated. Our combined salaries are £75.5k, we're looking to borrow 95% on a property price of £325k.

Thrugelmir

Try another lender or save and increase the size of your deposit. Lenders will operate a set lending policy which at a point they will not cross. Be little point in operating one if they constantly had to field appeals. The reduction in the size of the deposit won't have helped your case. As that's £15k or so, not an insignificant to suddenly vanish.