Halifax application advice please after HSBC rejection.

kingstreet

If it was my case I'd trial it at 69.9% LTV as well. Sometimes it remains a pass.

sparkey1

[QUOTE=sparkey1;74560259

Pay down the debts first, wait 6 weeks for it to reflected on your credit record before you make any more applications.
![/QUOTE]

Its a balance. If your debt is 0% you probaby dont want to repay it. If your paying interest on it Choices, choices!

However if you do repay any debt, allow six weeks from the date of the next statement for your credit file to update.

jb8285

Thanks Kingstreet, I wouldn't be able to get to the 30% deposit.

Am I right in thinking that with a high credit score and all debts cleared apart from the 2 personal loans totalling £670 a month and an income of £58k I would be able to reapply with a lesser deposit?
According to their affordability calculator I could borrow around £255k with those outgoing over 35 years.

Those two loans total around £45K but I wouldn't have any other credit outstanding.

kingstreet

If they think you are risky enough to warrant a 35% deposit, you should be looking at all three versions of your credit file to establish what is visible to lenders searching you.

jb8285

I have looked at all 3 credit reports.
In on electoral roll, never missed a payment, no links to anyone etc.
My unsecured credit balance currently sits at 94k.
I have had no issues in making repayments on those accounts but it's a huge balance.
The majority of the debt is on 0% or very low Apr cards and came from doing major works to my house.
I've made a profit on my house and will be clearing over half of it next month when the sale goes through.

The only credit I will have left will be two personal loans totaling £670 per month.

Credit cards and overdraft will all be 0 balance.