Halifax A.I.P a good indication?

Jodalina1987

Hey looking for some advice on mortgage application. 

Hubby and I have an AIP with Halifax 5% deposit from us and 5% from builder.  But I am pretty nervous about falling at the final hurdle.   We have no defaults, but I have a few late payments on a credit card, last one being 1yr 7mths a go, and late payments/ arrangement to pay on current mortgage from 6 years ago. 

I have also recently opened a credit account with Argos completely unaware we were about to do a mortgage application but I have since cleared this off and am going to have the account closed.  

What are the chances (if you have similar experience) that we will complete and get our mortgage agreed at full application stage? 

We have joint CC/credit debts of circa £7k 

Thank you in advance for any help  

jamielutz1987

@Jodalina1987 Does Halifax offer a 90% LTV product currently?
Setting that aside, an AIP is definitely a positive sign with regard to the full mortgage application but not a guarantee of a successful outcome.

Jodalina1987

They don’t offer 90% LTV currently but my broker highly anticipates it being reintroduced and has booked me in for appointment for full application on 3rd August. 

I’m terms of my late payments do you think they may impact my final application in any significant way? 

RPF1992

Jodalina1987 said:

They don’t offer 90% LTV currently but my broker highly anticipates it being reintroduced and has booked me in for appointment for full application on 3rd August. 

I’m terms of my late payments do you think they may impact my final application in any significant way? 

I’ve got late payments on my credit file (Late 2018) and my mortgage adviser has given me a realistic indication that it does reduce chances but it’s by no means impossible. 

Currently going through full application with Halifax, so will keep you posted on the process. It may act as some sort of indicator for your application in August but bear in mind that every case is different and just because one application may/ may not sail through the process, doesn’t mean the other will/ will not.

jamielutz1987

@Jodalina1987 You've passed the DIP and your broker is confident enough to put in a full application, I think that's as much assurance as you can reasonably expect. Good luck!

Jodalina1987

@RPF1992 best of luck I hope it all works well for you! Please do keep me posted I’d be interested to see what he impact of late payments can be. 

Jodalina1987

Thank you @jamielutz1987 fingers crossed  

[Deleted User]

Good luck all. 
Have 15% deposit, an AIP from Halifax and place is definitely affordable. 
Issues with a CC from 14 years ago but I don't know if that would be an issue now?

Tilly111213

Have you had any news? I am in the exact same position - AIP agreed yesterday and full application put in straight away. Unfortunately just before this we were declined for AIP by Virgin. 40% deposit, well within affordability but I have a couple of late payments (annoyingly for only £5) from Dec 19 and Jan 20, and a couple of others from 2 years ago. Keeping everything crossed!