Halifax Mortgage Promise

ellison007

I wonder if anyone can help me with the Halifax Mortgage Promise; I attended a meeting with a Halifax Mortgage Broker last week in branch & was told that the AIP was successful & that I had an A4 internal credit rating. I checked my Experian credit file the day after & I could see x 3 'soft credit checks'. I couldn't see anything on my Equifax or Callcredit / Noddle CR's for a Halifax soft search.


When I apply for the mortgage in full, will Halifax manually review my credit file & if so will it just be with Experian? I have a 'Fair Score' on Experian.


Does anyone have any experience of the Halifax process after being given an initial mortgage promise?


Thank you very much.

csgohan4

A DIP doesn't always mean mortgage offer, only until a full application is done and your credit file looked in detail can a more informed decision by the bank be made.

missmoose

"What is a soft search credit?

A soft search lets you check what credit deals you're most eligible for without affecting your credit score. The search it leaves on your credit file can't be seen by lenders, so won't affect their decision."

The above is taken from google.
If you got an AIP I'd not be too worried about how they're going to check your credit score when the time comes though. There's clearly no obvious red flags, but if you're that worried about your credit score you can put things on hold for a year to build it up to good.

I straight up asked our Halifax mortgage adviser if he thought we even had a chance of getting a mortgage and he said he'd have told us straight away if he had a doubt because it's a waste of everyone's time if not. He also said he wouldn't let us do the full application if he didn't think they would lend to us because it makes for less complaints. But that might just be a thing that he/my local branch do.

ellison007

Thank you for the reply; do you know if the credit check done at full application stage is done by a 'computer' or by a human being, i.e. an underwriter?


I've read many post whereby people are given an AIP & then not offered a full mortgage; I suppose it is a little like the % ratings when it comes to credit card applications. Even an 80% rating doesn't guarantee a mortgage offer.

missmoose

I'm not sure about that part sorry, I know ours is with an underwriter because it's a 95% mortgage but I'm not sure if that's standard, can always ring up and ask?

amnblog

Halifax Experian at DIP stage and Equifax and Call Credit on Full Application.

Hence what you have seen.

chanz4

I never had a hard search with them, and be warned they credit check every time something is done on the application inc release of funds. Then only searched Experian with me

ellison007

Thanks, I have a 'fair' score at equifax and noddle too & the information is identical at each CR. do you known if a human 'underwrites' the full app or is it automated?

ellison007

So you did a full app with Halifax and they didn't do a hard search?

amnblog

ellison007 wrote: »

Thanks, I have a 'fair' score at equifax and noddle too & the information is identical at each CR. do you known if a human 'underwrites' the full app or is it automated?

Machines make the credit decisions. People sign things off.

ap1985

chanz4 wrote: »

I never had a hard search with them, and be warned they credit check every time something is done on the application inc release of funds. Then only searched Experian with me

Hi


I just wanted to clarify...I had a mortgage offer back in September from Halifax and I am due to complete on my house end of February. So will they do another credit check when they release the funds?