Halifax a good option?

thermal2844

We have been shopping around for a mortgage and Halifax seem to be a good option for our situation (I am starting a new job in a few weeks in the same industry for a pay rise and my OH is self employed with one year tax records). From our research Halifax accepts both of our work situations, and the initial affordability check came through with an acceptable loan amount.

My question is, are they generally well regarded in terms of the mortgage application process? For example I have read on here that Barclays is a nightmare.

We bank with Lloyds, will this be of any benefit to us as Halifax are part of Lloyds, or do they effectively operate as separate entities in this regard?

We have spoken with a broker who felt we were two square pegs in a round hole, due to me starting a new job and my OH having one year tax records, and he was highly dubious that we would be accepted for a mortgage. Bit disappointing until we did our own research and found Halifax states quite clearly that they consider both probationary periods and one year tax records. Either he is wrong or we are wrong, hoping very much the former.

ggb85

Halifax do state this, however it comes down to the underwriters decision.

I am in a slightly different situation to you- I am applying on my own and have just completed the first years accounts of my limited company. I received Agreement in principle from Halifax 2 weeks ago, put an offer in on a property last Monday, and my broker submitted full application on Wednesday last week. On Friday my broker wet through everything with the underwriter on the phone, and I received an email stating that Halifax had completed the underwriting and I everything is good to go subject to property survey.

3 hours later, I received a call from my broker.. Halifax have called her to say they are reviewing their decision. Apparantly it is a concern that my business earns me significantly more than my previous employment, and they suggested that 2 years accounts would be preferred in this instance. Anyway this was at 3 pm on Friday, I have sent off a letter from my accountant with this years projection, and should hear some news tomorrow, but I am not very confident!

thermal2844

Fingers crossed for you that they are happy with the projection! Keep us updated.

I wonder if it helps that we are filing jointly, therefore extra security? I have no idea if lenders think that way.

My OH has a partial first year but I recall seeing Halifax want full years only so figured no point including a partial year (OH started the business Autumn 2016 so it would be about 2/3 of the tax year). But if it helps we could include two years, I just do not want them to be concerned by the first year number being significantly lower due to being a partial year.