AIP approved but I have bad credit

katjay41

Hi all, really need some advice. My situation is, my husband has a mortgage with the Halifax (his house before we married) but he is wanting to sell his so we can buy another house jointly. His credit score is excellent but mine is shocking, 3 ccjs and defaults (before I met him, was in bad place divorce etc). Anyway, we went to a mortgage broker and they said based on my credit report which they saw, I would have no chance. In the meantime we applied for a AIP and it was approved with Halifax. I spoke to the advisor at the Halifax and told them that a mortgage broker said I’m wasting my time And I have ccjs but Halifax said their lending criteria is different and should be ok at full mortgage application. I feel sick with nerves. Has anyone in similar position been ok at mortgage application?
we are currently renting from the council whilst he is renting his house out to tenants. 

[Deleted User]

Someone will have been in the same position, but that doesn't help you much.

If you have doubts over the Halifax, find a broker who specialises in adverse credit.

jamielutz1987

As per my broker,  Halifax are notoriously unpredictable with their approach to adverse history. Often a DIP is the only indicator of chances of success.

Given that you have cleared a DIP with Halifax, while it's not a guarantee of success at full application and also dependent on whether you filled it out correctly, it's a positive sign and definitely worth exploring before you opt for adverse mortgages.

Hopefully one of the brokers on here will throw more light on Halifax's approach.

Good luck!

ukman2012

how did the mortgage application go?

RelievedSheff

I would be interested to hear how you get on if you can update us with your results with Halifax.

We will be looking to remortgage next year and I will have one satisfied CCJ from 5.5 years earlier when remortgage time comes. It will be handy to know if Halifax would be likely to accept this.

katjay41

 We have a full mortgage application next Thursday and to be honest, I’m very nervous. I’m assuming they do a hard credit search on this and everything will show on that. I will disclose as much as I know and have looked at my credit report . We have, in our excitement of getting a AIP, put an offer in and been accepted for a house paying 15% deposit on a 156k house. I suppose I will just have to wait and see. The opinions of Halifax’s AIP reliability vary on this site with some people saying they rarely get declined once AIP has been declined to they not being worth the paper they are written on. So we will see.

katjay41

Meant to say accepted- not declined 

RelievedSheff

Fingers crossed for you.