Mortgage broker - ask me anything

tracy_l

what does mortgage hard search amount 0 mean on credit report? Does it mean refused by the leader? Thank you!

K_S

tracy_l said:

what does mortgage hard search amount 0 mean on credit report? Does it mean refused by the leader? Thank you!

@tracy_l Not entirely sure what you are asking but a hard search on a credit report only shows that you made an application. It does not say whether your application was declined or accepted.

tracy_l

K_S said:

tracy_l said:

what does mortgage hard search amount 0 mean on credit report? Does it mean refused by the leader? Thank you!

@tracy_l Not entirely sure what you are asking but a hard search on a credit report only shows that you made an application. It does not say whether your application was declined or accepted.

Thank you for replying, I attached an image of what I saw on hard search, the amount showed 0 and made me worried.  

Louise_G_1983

I have a mortgage application currently with Vida, its been approx 7 weeks of backwards and forwards with various questions, etc. I've been told today that my status has now changed on the portal, which only broker sees, to the final approval stage. Does this mean the offer stage or could they still decline at this stage? After so long I want to think its a glimmer of hope but so uncertain. Assuming they'll be no more questions now. Anyone any experience with Vida who can give me their view or is it case of wait and see? Is this the final step in the decision process? Thanks 😊

Louise_G_1983

Since writing this post, just had confirmation of the offer. So relieved!

McClane54

Hi,

Since taking a mortgage out 5 years ago my partner has stopped working to look after the kids (no friends or family and kids are not in full time school until sept 2022.) Because we survive on just my wages, whenever the mortgage is up for renewal, I have to accept what they offer me (lloyds bank) because I can't get one else where. Is there any help out there for people like me?

zoemk12

Why are the Coventry BS so slow?! 

Our application took a week to get on to their system, they ordered a drive by valuation which was done yesterday but haven’t looked at our income proofs yet! 

Are they likely to want bank statements or would they have asked for these initially? We want to try for end of June and currently everyone else is waiting on us! thanks 

K_S

McClane54 said:

Hi,

Since taking a mortgage out 5 years ago my partner has stopped working to look after the kids (no friends or family and kids are not in full time school until sept 2022.) Because we survive on just my wages, whenever the mortgage is up for renewal, I have to accept what they offer me (lloyds bank) because I can't get one else where. Is there any help out there for people like me?

@mcclane54 Well, if you want to move away from Lloyds, you will need to meet affordability (as per lender calcs) for the outstanding mortgage. There is no 'help' unfortunately to get over this barrier.

If you can give me some rough figures - income, your age, number of dependents, house value and outstanding mortgage, background debt, etc I can give you a very very rough idea of how far off you might be.

Dom25

Hi! 

I have a question please if you can let me know . I submitted my application with Halifax on 28/05 through MB. On the same day, 1 hard check and 1 soft check showed on my credit report following 200£ charge on my bank for valuation fee I think. MB told me good news that all credit check passed and all is good. They would contact me soon to book for survey. On that day, my MB contacted me to take mortgage fee from my bank because I did set up limit from my bank for maximum 200£ only that why she could not take money from my bank. After unlock limit set up, she took money necessary.Unfortunately, I just saw that Halifax refund me 200£ on 02/06 without knowing and I haven’t heard anything since. I asked my MB what is happended but she said she have to contact Halifax to find out why they refund that money.
 I hope that bank would do something by mistake. My knowing is lenders won’t refund any mortgage fee for any reason.

I am very confused and stressed. could you tell me why?
Many thanks 

K_S

Dom25 said:

Hi! 

I have a question please if you can let me know . I submitted my application with Halifax on 28/05 through MB. On the same day, 1 hard check and 1 soft check showed on my credit report following 200£ charge on my bank for valuation fee I think. MB told me good news that all credit check passed and all is good. They would contact me soon to book for survey. On that day, my MB contacted me to take mortgage fee from my bank because I did set up limit from my bank for maximum 200£ only that why she could not take money from my bank. After unlock limit set up, she took money necessary.Unfortunately, I just saw that Halifax refund me 200£ on 02/06 without knowing and I haven’t heard anything since. I asked my MB what is happended but she said she have to contact Halifax to find out why they refund that money.
 I hope that bank would do something by mistake. My knowing is lenders won’t refund any mortgage fee for any reason.

I am very confused and stressed. could you tell me why?
Many thanks 

@dom25 The optimistic explanation is that it could be that due to the limit you set, the payment never went through properly in the first place.

The pessimistic explanation could be that the application was declined soon after the full mortgage application was submitted and your valuation fee refunded (as the valuation has not been carried out). It's never happened to me with Halifax so I can't add anything useful to that.

Just follow-up with your broker for an answer before the weekend, she should be able to get a quick answer on phone call.