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FTB Will my mortgage be approved with Halifax?
lclclclc1234
Posts: 2 Newbie
Hi Everyone,
I am a FTB trying to get on the property ladder, on my own, through a shared ownership scheme.
When I google my situation, it comes up with really old forums/ threads so I kind of wondered if anyone could give me some current advice....
Firstly, I am no angel! I have defaults on my credit file from 4 years ago when I hit financial difficulty. Everything was paid back since and I don't have so much as a late payment in these last 4 years, but I get that there's nothing I can do about it now. I have worked really hard to save my deposit and I'm now in a position to buy....
The broker has submitted my application to Halifax at 40% shared ownership on a flat with 20% of that deposit. Have the approval in principle and valuation is on Friday.... Any thoughts at all what they'll come back with if I have defaults? I just don't want to get my hopes up if it's all going to fall through again as the seller is on the verge of pulling out because we have taken so long (reasons why below)
On another note, my broker doesn't seem to have any interest in getting things right. I originally reserved the property back in November when I had a MIP from another lender. For 3 months the lender kept coming back asking for more info, never got to the point of valuing the property and then declined my application, but would not tell me why, only that addresses didn't match up.
With this lender, I never got to see the application the broker submitted. Only what they submitted to Halifax (second try)- The form was a mess. My last 2 years address history was completely missing (they'd entered the wrong dates) they put in my employers old address off google, despite me giving the correct one, they put the wrong address of the property down - they had a 4 bed house down the road as the address!! My god, it was just all so wrong from start to finish. Luckily I managed to check it and correct it all for submission to Halifax, but if this is what they sent to the first lender, then surely that is why they rejected it?
I feel really let down, really stressed out and frustrated, and I just don't know what to expect next!
Can anybody give me any thoughts or advice at all on this?
Cheers
I am a FTB trying to get on the property ladder, on my own, through a shared ownership scheme.
When I google my situation, it comes up with really old forums/ threads so I kind of wondered if anyone could give me some current advice....
Firstly, I am no angel! I have defaults on my credit file from 4 years ago when I hit financial difficulty. Everything was paid back since and I don't have so much as a late payment in these last 4 years, but I get that there's nothing I can do about it now. I have worked really hard to save my deposit and I'm now in a position to buy....
The broker has submitted my application to Halifax at 40% shared ownership on a flat with 20% of that deposit. Have the approval in principle and valuation is on Friday.... Any thoughts at all what they'll come back with if I have defaults? I just don't want to get my hopes up if it's all going to fall through again as the seller is on the verge of pulling out because we have taken so long (reasons why below)
On another note, my broker doesn't seem to have any interest in getting things right. I originally reserved the property back in November when I had a MIP from another lender. For 3 months the lender kept coming back asking for more info, never got to the point of valuing the property and then declined my application, but would not tell me why, only that addresses didn't match up.
With this lender, I never got to see the application the broker submitted. Only what they submitted to Halifax (second try)- The form was a mess. My last 2 years address history was completely missing (they'd entered the wrong dates) they put in my employers old address off google, despite me giving the correct one, they put the wrong address of the property down - they had a 4 bed house down the road as the address!! My god, it was just all so wrong from start to finish. Luckily I managed to check it and correct it all for submission to Halifax, but if this is what they sent to the first lender, then surely that is why they rejected it?
I feel really let down, really stressed out and frustrated, and I just don't know what to expect next!
Can anybody give me any thoughts or advice at all on this?
Cheers
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