Halifax mortgage promise. Will it be declined from defaults?

JoulesRind · 18 May 2016 at 7:31PM

Hello there,

Myself and my partner currently have a mortgage with Halifax and have done since September 2010. We've changed the product at the end of each term, but remained with Halifax ultimately.

We have now just sold our place and are in the process between selling and buying.

We have a mortgage in principal from both halifax and nationwide (we have early repayment fees of £2700 with Halifax).

Halifax we have gone direct and Nationwide is throuhg a broker.

Halifax said there is a missed payment and so we'd need to go through the underwriters to go ahead with the application.

I am very wary as I don't want a hard footprint on our accounts and it to fail. I have access to both of our full credit reports.

Blips are:
Missed payment in March 2016 (for less than 1 month)
Missed payment in May 2015 (for less than 1 month)
and then between 3 and 4 years ago we had a solid year where we were 3 payments behind (due to may parner being laid off from work just after we'd had a baby and it was 2012 recession year (a difficult year!) It was all discussed with halifax continuously as we had a payment holiday but I can see on our account it says 1, 2, 3, 4, 3,3,3,3,3,3,3,3 and then back to green again when halifax agreed to spread the term as we'd managed to make good payments again. So, it looks like a terrible payment year, which is was, but we did recover and make good from then apart from the two silly miscalculation blips, repayed within the day.

I also had a phone contract in 2011, which to my knoweldge was settled. In this time we moved house and I knew nothing more about it until this year when a debt collector letter arrived through my door stating I owed around £100 (turns out I had paid my bills but then they issued the bill for terminating the contract early and it had never reached me). I settled it immediately in Jan 2016.

So, after seeing all of this in front of me, I am understandably anxious to go ahead with with full credit check and I want to be sure I dont ruin my chances of securing our dream home! Our house is selling for £123,950. Our house we're buying is £185k. Our mortgage is currently £89,600... taking fees into account, I imagine we'd have about £25k equity.

My partner earns £23k. with payrise in writing to £26k for sept 2016 and my earnings are currently zero hours contract for the last 10 months of £5-6k p/a. but my boss has also confirmed a new part time, perm salary for me of £9120 p/a. We also have £1000 savings. car costs are £125 p/m, 28 months remaining. they are our only fixed outgoings. we have no gym or sky or anything like that

Can anyone advise whether halifax would just throw this out at underwriter stage to save me the terrible hard footprint rejection confirmation, or whether it would actually stand a good chance of going through? Or wheter it's worth just paying the early repayment fees and securing perhaps a better interest rate (or not) with a lender who will approve thse short falls.

My partner also has higher purchase on a car which he always meets each month and all other credit files, credit cards, account, water, etc are all met, up to date and no issues. Not to mention we managed to hold on to our mortgage through recession, babies and no job! (mini high fives!, phewf)

Any help is greatly welcome. We're feeling completely bamboozled!

Many thanks,

JR

banks4u · 18 May 2016 at 10:04PM

I had bad debt but cleared it all, Halifax wanted a very good explanation. But you had missed payments on your mortgage, which is not a good thing, but you never know. I'd say your better off staying with Halifax they seem more flexible.