Halifax DIP

jrrrrj

From my experience, you’ll only have a hard search if you make a full application.

Hammy76

I understand it’s only a soft search but that should highlight anything that would prevent it wouldn’t it ? So long as nothing changes on my file now 

K_S

Hammy76 said:

I understand it’s only a soft search but that should highlight anything that would prevent it wouldn’t it ?

@hammy76 A DIP gives a positive indication but there's no guarantee that a DIP pass means that you will pass the lender's "credit score" at application.

Hammy76

Would the soft search show the default though ? If so I’m not as worried. 

Hammy76

I need a mortgage broker. The stress is just not worth it and I need help. Who is best to approach for a house that has a few acres on it ? 

RHF2020

I also have a Halifax DIP, through a broker, which I'm about to convert into a full application which I'm anxious about:
 - The house is for £230k and we have a 15% deposit,
 - I have a £64 default from September 2019 which originated with Vodafone due to an admin mix-up. I complained and got them to agree to remove it on 15 December, but the default is still on all my credit records and they are being incredibly slow,
 - I have evidence the default is in the process of being removed,
 - My wife's credit score is perfect (994 on Experian),
 - Our DIP is up to £410k, so we're borrowing less than 50% of what they approved,
 - I can see on Transunion they have already done a soft search and so are likely to have seen the default,
 - We can easily afford the mortgage. It would be less than our current rent, and we've been able to save a 15% deposit here in the past 2 years (largely because of the pandemic).

Is there a possibility my default could still cause issues? It seems like any rational mortgage underwriter would look at the facts and approve it.

Hammy76

Mine went through today RHF2020 with a 20% deposit and the defaults I listed for £350,000 subject to the house valuing in ( it will I’m sure 😁) so fingers crossed you will be fine. Apparently they see these at the DIP stage and if nothings changed it shouldn’t be an issue. Good luck keep us updated !