Halifax final mortgage checks

robert9876

Hi wondering if any knows if it’s just random final  additional checks or is it more intense due to covid. First set of checks were done end of June. 

Mortgage offer was august11th 

waiting on move in date, but my car was due to be traded in so i have done it, missives etc are concluded. 

Little worried though as I have changed jobs since original mortgage offer.

robert9876

Just quick update, incase any one reading. Solcitors noticed purchase price was wrong, after missives were concluded! Now it’s been referred back to underwriters after a credit search 

shakAFC

Did something change on your credit file?

robert9876

Yes traded in our car unfortunately  as pcp deal was ending, thought we were out the woods with the missives concluding. Now the solicitor is worried herself as move in date is start of November and we’re legally tied. 

shakAFC

Did you take out another car? Did your affordability change much? 

robert9876

Yeah took out another car, in my name this time though, so when they have checked credit files, my partners finance wasn’t updated as settled yet, extra £70 a month but I have dropped a mobile phone contract and a 0% interest free couch that was finished which cost is around £125 a month. 

Carl2510

Surely you’ve read through these forums everyone states do not take on any new credit until you get your keys!! You could easily lose your mortgage offer now I’d be prepared.

csgohan4

You also did not tell the lender you changed your job? on top of taking out new finance??? Together with tighter lender criteria, you may find the mortgage being withdrawn or reduced lending. 

Surely an old banger would have sufficed, as you can't generally live in a car but you can in a house. 

Not sure how you are going to fix this, do you have enough to make up the difference?

I assume you have exchanged, so you may lose your deposit if you can't buy the house

https://forums.moneysavingexpert.com/discussion/5930981/help-mortgage-offer-withdrawn-after-exchange/p1

robert9876

Carl2510 said:

Surely you’ve read through these forums everyone states do not take on any new credit until you get your keys!! You could easily lose your mortgage offer now I’d be prepared.

Nope first time I posted was first time I read threw the forums, only made the thread after the lender done a second search! 

robert9876

csgohan4 said:

You also did not tell the lender you changed your job? on top of taking out new finance??? Together with tighter lender criteria, you may find the mortgage being withdrawn or reduced lending. 

Surely an old banger would have sufficed, as you can't generally live in a car but you can in a house. 

Not sure how you are going to fix this, do you have enough to make up the difference?

I assume you have exchanged, so you may lose your deposit if you can't buy the house

https://forums.moneysavingexpert.com/discussion/5930981/help-mortgage-offer-withdrawn-after-exchange/p1

Nope haven’t lost deposit as still have it in bank, missives are concluded so I’m legally tied, finding out tomorrow  what the outcome is, my ma had to send in proof of old finance being settled.

Fingers crossed that is all that they wanted to check after it flagged up on credit search

if not looks like another application will need to be made so will be running against time now with move in date 4 weeks away.