Broker advice on declined by Halifax?

Gem_M90

I'm using a broker who has applied through Halifax. I'm trying to purchase a new build however due to defaults on my partner's account we're applying in my name only on my 30k/year salary. We're using help to buy in Scotland and have a deposit of £33k, property value of £196,500 meaning an LTV of 68%. 
I have a student loan which comes off at £70/month. I pay £150 to a loan (until August 2022, no late payments) and I have £5000 in credit across credit card/catalogues which I pay about £150/month to, again zero missed payments and 28% utilisation overall. My credit score is excellent. By my calculations this makes my debt to income ratio around 16% of a monthly salary of £2308 (before tax). 
My initial application went in on 13/08 and the following week went to underwriters. It was declined for undeclared credit. My broker assumed it was due to my credit report not being updated for several months, so there was more credit showing on there than I had. We gathered all evidence and my broker resubmitted. Halifax accepted the application and it was all affordable, however again it had to go back through the underwriters. They have declined it again today simply on "affordability" and my broker has no idea why its been declined when it passed Halifax's affordability check. The broker are appealing to Halifax based on this fact and have asked what theyre basing the affordability on. My broker has said in 16 years he's never had to appeal to Halifax for an application that passed the initial check. 
Anyone any experience of this? I'm beyond worried now. 
Our rent/utilities are all in my partner's name and I simply transfer him my share. I'm wondering if this is a factor as technically it looks like that money is just disappearing? Its so frustrating as our rent on a 2 bedroom flat is more than the mortgage will be!! 

Vestraun

I’ve just tried putting the numbers in your post through the calculated and it is showing this is massively unaffordable due to your debt. 

https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

Gem_M90

Vestraun said:

I’ve just tried putting the numbers in your post through the calculated and it is showing this is massively unaffordable due to your debt. 

https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

I'm not sure how this can be as I had an AIP initially with another broker for £134k from Halifax. I then had to switch broker as the one I was using didnt deal with help to buy. The 2nd broker then got a new AIP again with Halifax without issue. They then processed the application and it passed all initial affordability checks and Halifax accepted the application. It was then passed to underwriters. 
Will 2 very good rated brokers have got it so wrong? 

csgohan4

Gem_M90 said:

Vestraun said:

I’ve just tried putting the numbers in your post through the calculated and it is showing this is massively unaffordable due to your debt. 

https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

I'm not sure how this can be as I had an AIP initially with another broker for £134k from Halifax. I then had to switch broker as the one I was using didnt deal with help to buy. The 2nd broker then got a new AIP again with Halifax without issue. They then processed the application and it passed all initial affordability checks and Halifax accepted the application. It was then passed to underwriters. 
Will 2 very good rated brokers have got it so wrong? 

AIP are not an absolute, they are only a guide and no guarantee to getting a product on application. Seems your debt is dragging you down. 

Did you try the calculators as well ?

Gem_M90

csgohan4 said:

Gem_M90 said:

Vestraun said:

I’ve just tried putting the numbers in your post through the calculated and it is showing this is massively unaffordable due to your debt. 

https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

I'm not sure how this can be as I had an AIP initially with another broker for £134k from Halifax. I then had to switch broker as the one I was using didnt deal with help to buy. The 2nd broker then got a new AIP again with Halifax without issue. They then processed the application and it passed all initial affordability checks and Halifax accepted the application. It was then passed to underwriters. 
Will 2 very good rated brokers have got it so wrong? 

AIP are not an absolute, they are only a guide and no guarantee to getting a product on application. Seems your debt is dragging you down. 

Did you try the calculators as well ?

On initial application, everything was fine using Halifax calculators. Hence why 2 brokers have used them for me I guess... both brokers declared everything. However now when I enter everything into the calculators Halifax say no. 
I ran everything through some other calculators last night just to check, and other ones I tried all came out fine. Natwest, santander, HSBC... 
Perhaps Halifax have tightened the criteria too much since initial application on 13/08? My application went to underwriters after a week 1st time round, they flagged it for a discrepancy we had to send evidence of but that was all they flagged up. Then it was over a week wait again and its been declined on affordability. I'm using an excellent reviewed broker, so surely they wouldn't even attempt to appeal it if there was no chance. I trust them to know what's best but I just wanted others opinions especially in the current climate, this is maybe something that's happening more often, currently. 

jazzyja

When you complete the Halifax calculator previously posted how much does it say you can borrow? 

Gem_M90

jazzyja said:

When you complete the Halifax calculator previously posted how much does it say you can borrow? 

The full amount of £134k, that was including what balances I have. However they're no longer offering the initial rate my broker applied on either, so I'm wondering if rather than honouring it, they've simply declined on affordability. I'm receiving 15% from help to buy and have a deposit of 33k, bringing the ltv to just under 70%. Might have to come up with another 5k just to clear off the balances I'm paying, but it's frustrating as it didn't seem to be an issue on affordability. 

Gem_M90

Gem_M90 said:

jazzyja said:

When you complete the Halifax calculator previously posted how much does it say you can borrow? 

The full amount of £134k, that was including what balances I have. However they're no longer offering the initial rate my broker applied on either, so I'm wondering if rather than honouring it, they've simply declined on affordability. I'm receiving 15% from help to buy and have a deposit of 33k, bringing the ltv to just under 70%. Might have to come up with another 5k just to clear off the balances I'm paying, but it's frustrating as it didn't seem to be an issue on affordability. 

Sorry, I read your comment wrong. When I complete the one posted NOW it says I can borrow £112k with my credit balance of 5k. If I remove the balance, it then goes to £135k

Carl2510

Gem_M90 said:

Gem_M90 said:

jazzyja said:

When you complete the Halifax calculator previously posted how much does it say you can borrow? 

The full amount of £134k, that was including what balances I have. However they're no longer offering the initial rate my broker applied on either, so I'm wondering if rather than honouring it, they've simply declined on affordability. I'm receiving 15% from help to buy and have a deposit of 33k, bringing the ltv to just under 70%. Might have to come up with another 5k just to clear off the balances I'm paying, but it's frustrating as it didn't seem to be an issue on affordability. 

Sorry, I read your comment wrong. When I complete the one posted NOW it says I can borrow £112k with my credit balance of 5k. If I remove the balance, it then goes to £135k

You should aim to clear that debt ASAP! Should of done that anyway. 

Gem_M90

Carl2510 said:

Gem_M90 said:

Gem_M90 said:

jazzyja said:

When you complete the Halifax calculator previously posted how much does it say you can borrow? 

The full amount of £134k, that was including what balances I have. However they're no longer offering the initial rate my broker applied on either, so I'm wondering if rather than honouring it, they've simply declined on affordability. I'm receiving 15% from help to buy and have a deposit of 33k, bringing the ltv to just under 70%. Might have to come up with another 5k just to clear off the balances I'm paying, but it's frustrating as it didn't seem to be an issue on affordability. 

Sorry, I read your comment wrong. When I complete the one posted NOW it says I can borrow £112k with my credit balance of 5k. If I remove the balance, it then goes to £135k

You should aim to clear that debt ASAP! Should of done that anyway. 

People are accepted for mortgages every day with credit, loans, car finance...all sorts on their record. I've gone on the advice of 2 different brokers and none have urged me to clear off credit ive been easily paying. So I'll treat the "should've done that anyway" with the contempt it's due. Obviously if its now became a factor, I'll aim to do so. But 2 brokers have told me it wouldn't be a factor with the amount I was looking to borrow, hence my confusion. 

Vestraun

Surely you just need to pay off the £5k from your deposit, you will then still be able to get a mortgage at less than 75% LTV?