Halifax Affordability Process/Criteria

Gunther_Golf

Hey

I'm joining the long list of people getting their knickers into a twist over a mortgage application so bear with me! DIP received approx 2 weeks ago, offer placed and accepted Monday 3rd. Full mortgage application submitted via broker same day and response to broker was "Full Application Result: Accept". Broker has now been provided with all supporting documentation (pay slips, bank statements etc) which will be sent to Halifax tomorrow 6th October.

Mortgage is for £128,500 with purchase price of £139,500.

Experian shows 3 searches on monday one of them leaving a hard print for "First Mortgage" - I assume we have now been credit searched/checked and met the criteria.

My question is around Halifax Affordability Checks/Process - Mortgage is coming in at £600 per month with disposable income detailed as £1200. Monthly joint income £3500. Some of the figures our broker has used around Transport/Social/Food seems hefty to me (£400 per month for food for 2 adults!!). Anybody able to give me their experience/thoughts around likelihood of this going through or is a crystal ball required?

We are in Scotland if it makes any difference.

Ta

kingstreet

Halifax isn't interested in anything more than;-

dependents
childcare
school fees
maintenance
credit card debt/loans/HP etc
ground rent & service charges.

It does not require a detailed budget planner even though your broker might...

Gunther_Golf

Then that should put the missus mind to rest!

Thanks again kingstreet