Nervous upcoming Halifax AIP

AliceBanned

It's a mystery to me with Halifax. I recently tried to increase my share in my shared ownership property and they would only offer me an extra £50k mortgage. OK I have credit cards which are slowly being prepaid, but no defaults, no payday loans, no ccj. And I have had my mortgage with them for the past 6 years and overpaid some of it, no late payments. It is only£41k balance at the moment and I earn £39k.


I just wonder what their lending criteria is but I am going to try whole of market when my debts are down to £5k as I need to borrow around £150k to complete the purchase.

FTBbelle

UPDATE:

So, we don’t know whether to get excited or not. I had a text on my phone from Halifax a fraud alert for a payment to Halifax (lol!!! 😂) which was our valuation fee going out. I confirmed it was a genuine payment etc then my MA just rang to say he was putting it through, he stayed on the phone and said the mortgage had been accepted and he just needed to send off my job contract and payslips, since they’ve taken the valuation fee, can I get excited?? I know obviously until the money is in our account things could still go wrong, but is this basically our full application approved?! 🤷🏼!♀️😂💕

boab212

The broker, I think might be making you worry more than needed.

Being a broker my self, I would want to know when the CCJ was, and what was the value. If this was more than 3 years ago the case is very strong at 90% and would likely pass. Should it not pass, then there are a number of there lenders that would consider the case.

boab212

the fact you have had a call for a valuation, would indicate its passed the full credit search, and the valuation has been ordered. However Where are you buying?

what will happen now, is they will verify your income and credit reports.

FTBbelle

Thanks Boab212!

We are 85% LTV CCJ was 2.8 yrs and was £145. We are buying in Norfolk.

I'm really hoping all the credit 'stuff' is fine now, so difficult to get excited until we've actually got it all in writing :undecided:undecided:undecided

James_d_2

I thought Most banks hated payday loans as shows you carnt alway live within your means

FTBbelle

UPDATE:

Horrid afternoon!

After having the mortgage approved, valuation done etc, waited for offer today, MB rang to say Halifax now want 20% deposit instead of 15% because of 'a change' on one of our credit reports between the 8th and 28th May! The only thing that's changed is that i've paid off MORE of my car loan, same regular monthly payments i've always made, and my partners car insurance has auto renewed. Obviously Halifax themselves have made hard searches that will have affected our file, but it's THEIR search!

I'm so confused and upset, anyone shed any light or have any knowledge of situations like this?

Broker is appealing tomorrow.