Halifax mortgage decline?

homehunter7 · 27 July 2020 at 10:05AM

Hi All,
So me and my husband applied for a mortgage with Halifax through a broker, i work part time and my husband is self employeed (has been for 1 year)
Anyway we sent off all the usual documents required and had a AIP, then our broker submitted the actual mortgage offer which has now come back decline, any idea why has happened? We both have excellent credit score, no loans and just credit cards which are paid in full each month, the house we want to purchase is 163k & our deposit is 35k, we also both have help to buy ISAs, any advice or any other lenders that we could go to with just 1 years of accounts?

Many thanks!

EverythingIWant · 27 July 2020 at 10:47AM

Self employed and 1 year accounts most probably. Self employed is seen as risky at the moment!

Thrugelmir · 27 July 2020 at 11:28AM

Been furloughed, any claim for Government support due to Covid?

justme200194 · 27 July 2020 at 2:54PM

Same situation here, both self employed submitting full application with 1 years accounts to Halifax which then got declined. We’ve appealed so waiting on the decision, almost two weeks now since the appeal went in. We have a 20% deposit for the new home, no debts, no loans, credit cards, defaults, CCJ’s, no car finance so outgoings are minimal every month and we’ve never missed a mortgage payment on our current house. The banks are being very cautious at the moment so we’re not expecting them to change their decision but always worth a try.