Help! Totally Money - Credit Searches

ohemgee

@Law Abiding

Yes, electoral roll same for all 3.

Credit utilisation is low - £4500 credit limit on NatWest credit card, only using £1000 which is paid off in full each month. No other credit agreements. All bills (Vodafone, Anglia Water etc) paid on time each month.

ohemgee

And no adverse history.

Returned to UK last summer but kept admin address in the UK whilst away. She advised that wouldn't be a problem (plus when doing the joint application with DH (who was with me abroad!) we passed the credit search).

LawAbiding

Ok, so basically this is a case of a high Street lender refusing you without merit

I wouldn't worry, has MA lined up any other lenders?

Concerns me she has advised to wait.

LawAbiding

Search Halifax Mortgage Lending Criteria and click on the site for "intermediary" this is what mortgage advisors use.

Check the criteria yourself to see if you meet it

Could be address history if you moved last year.

ohemgee

@LawAbiding

Am on the Halifax intermediary link now going through their Lending Criteria and can't see anything that would fail me.

Their 'credit scoring' info says that if refused they'll give a clear explanation why.... MA couldn't give us that (in branch) and seemed genuinely baffled. The only thing she could advise was waiting 3 months so that no recent 'quotations' would show.

ohemgee

MA is in-branch Halifax Advisor, also an underwriter.

When we spoke about the accounts in April, she had said that if there were any problems like credit search failing (because of address), she could submit all the paperwork to Head Office underwriters for their sign-off. Today she basically said there's nothing she can do.

ohemgee

Would a Mortgage Broker be able to help us find a different lender?

This has really shaken me, and am now worried that those searches will hold us back forever.

[Deleted User]

You are putting all your eggs in 1 basket with doing it in house with Halifax.

I had a case with Halifax need 35% deposit, move it to Natwest and got it at 5%.

You just need to expand your options rather than doing it with someone who can only give you 1 option then advise to wait 3 months

FYI the reason they advise to wait 3 months is because the credit decison is now locked in with them for 3 months. It doesn't refresh its decison each time it's run

Just get a broker and you'll be fine

LawAbiding

Agree with Deleted_User, forget about Halifax now.

Get a proper independent broker and they will get it done for you.

Or have a look at other high street lenders, check criteria's and apply direct.

RBS offer a full online service.

muhandis

Can only echo what the others are saying.

Consult with a whole of market broker. If you don't want to pay a fee, there are plenty of brokers that don't charge any. There is simply no reason to have to do trial and error applying with lenders direct.