Waiting for approval from Halifax

vicki2220

My boyfriend and I are applying to remortgage with Halifax. We are currently with Kensington because my credit report is shocking and they were the only ones who would take us 3 years ago when we bought our first house. I have 2 defaults and a CCJ (the CCJ was actually from only 18 months ago, so my credit score is now even worse than 3 years ago).

Our remortgage would be 60% LTV. I was absolutely gobsmacked when they told me today we had got a AIP! They've done the soft credit check and all my defaults and the CCJ appeared and I still passed. However, now we have to go through the full application which of course could still be rejected. But the advisor said she rarely sees applications rejected after passing AIP, especially as everything is already declared.

If we get approved I will be absolutely stunned!! I thought I was a good 4 years away from being able to have a mortgage with a high street lender. I am trying not to get my hopes up too much. I will keep you all posted.

Bonfire_Bride

I hope that you get it...seems quite shocking though that the CCJ is only 18months old. Was it for a large amount?

Thrugelmir

Consult a broker. A CCJ of 18 months old may not be acceptable to an underwriter.

vicki2220

Well, it got declined at head office. So there we go. We will continue to pay through the nose on the interest rate of our mortgage for another few years.

Bonfire_Bride

May I suggest contacting a mortgage broker when you next decide to remortgage? It really will save you a lot of time and money!


Sorry it wasn't accepted but I thought it was unusual that they were considering such a recent CCJ.

minimike2

vicki2220 wrote: »

Well, it got declined at head office. So there we go. We will continue to pay through the nose on the interest rate of our mortgage for another few years.

Out of interest, what do you consider as "paying through the nose" and if that's how you viewed it then why take the mortgage in the first place?

Specialist mortgage lenders are a lot fewer in number now. They price for the risk of lending to someone with less than favorable circumstances, at rates which, as they are now, would have been mouthwatering to even the squeaky cleanest of borrower 8 years ago. The notion of anyone "paying through the nose" I find quite confusing, especially given you have accrued a CCJ since taking the mortgage out.

pga_2

Just been accepted for a mortgage and I have 4 defaults from 32 months ago. I just waited for a while and built my score back up, saved a deposit and applied.