Decision in principle with halifax

skintsaver_2

Hi all

Just wondering if anyone can help me please. I've currently got an DIP with Halifax for a mortgage with ltv 60%

How much of a guarantee is this of me acutally being fully accepted when I apply in full? I own my own home at the moment and the sale of it should leave me with £50k after fees so I'll have a big deposit.
I'm worried that if I sell my home before I find one I like that I won't be approved for another mortgage

Thanks everyone for any replies

Thrugelmir

skintsaver wrote: »

How much of a guarantee is this of me acutally being fully accepted when I apply in full?

Without wishing to you concern you there is no guarantee with a DIP. Though the vast majority of people obtain mortgages without any problem. Despite what you might believe from reading this forum.

skintsaver_2

Thanks for the reply, I was thinking that's theres no guarantee but would anyone know roughly the % of approvals after a dip?

I have my current mortgage with Halifax and they are the ones who have given me the dip

cahillg81

Thrugelmir wrote: »

Without wishing to you concern you there is no guarantee with a DIP. Though the vast majority of people obtain mortgages without any problem. Despite what you might believe from reading this forum.

That's not true, as long as all the information on the DIP is the same at full application a DIP guarantees the funds to be available. If the information verified turns out to be a porky then obviously lending will be declined.

alchemist.1

cahillg81 wrote: »

That's not true, as long as all the information on the DIP is the same at full application a DIP guarantees the funds to be available. If the information verified turns out to be a porky then obviously lending will be declined.

That isnt correct especially with Halifax as they only do a soft search on your credit profile at DIP stage.

amnblog

alchemist.1 wrote: »

That isnt correct especially with Halifax as they only do a soft search on your credit profile at DIP stage.

For practical purposes in the majority of cases it is correct.

As stated above, if the information provided cannot be proven that can cause a problem.

At application stage Halifax do broaden the range of credit reference agencies used and if the information differs between CRA's that very occasionally causes a problem.

Our OP does not have a problem either way as they have no need to confirm sale until they have a formal mortgage offer for the purchase.

skintsaver_2

Thanks for the replies, my info is correct at the moment but in sept it will change as my job role will be changing which will result in a pay rise, so all good things!

I'm thinking of putting my house for sale in the next few weeks so hopefully I will be approved when the full application goes in