Halifax Criteria Question

Zappy121

Hello wonderful people, 

I had a quick question about the Halifax lending criteria on the intermediaries website. 

The following quote shows up on the mortgage arrears section:
"The Credit History question should be answered as ‘Yes’ if any customer has been in arrears in the last 6 years with any borrowing or ever had a property repossessed. Applications where previous mortgages have been in arrears will be considered on an individual basis."

I find this a little confusing, is this mainly about mortgage arrears? Or any missed payments in general? E.g CC

it seems more tailored to mortgage arrears and there doesn't seem to be a section on the Halifax criteria about missed late payments specifically. It asks about CCJ's and defaults though.

The reason I ask is when I did my application, I answered no as I completely forgot about missed payments from 4-5 years ago. I have recently received a full offer. I guess they would have seen these missed payments on my file?

none of them resulted in a default though 

Zappy121

P.s no, I don't have anything better to do on a Friday whilst the other half is down the pub 😩

[Deleted User]

If you've been in arrears with any borrowing then you answer yes.
This would be credit card, loans, car finance, mortgages, anything.

They would have seen thr information regardless so i wouldnt worry.
The only real impact is if you get an accepted AIP then they can instantly decline on underwriter review when they see the missed payments.
Since you've already had that review and its been passed you have little to worry about 

Zappy121

Deleted_User said:

If you've been in arrears with any borrowing then you answer yes.
This would be credit card, loans, car finance, mortgages, anything.

They would have seen thr information regardless so i wouldnt worry.
The only real impact is if you get an accepted AIP then they can instantly decline on underwriter review when they see the missed payments.
Since you've already had that review and its been passed you have little to worry about 

Thank you 😊 so does that mean an actual underwriter would have seen the late payments and authorised it? Or would it still have been the computer system? 

Is the underwriter review the full application.
Sorry for the million questions, I'm a proper newbie and baby brain has got me on overdrive

[Deleted User]

Halifax computer system does the majority of their underwriting so if an offer is issued i really wouldn't worry 

Zappy121

Deleted_User said:

Halifax computer system does the majority of their underwriting so if an offer is issued i really wouldn't worry 

Thank you very muchly may be able to go into this weekend somewhat relaxed.

I have been living in fear of the dreaded "A" word, but I imagine any person buying a house does. 

Zappy121

Deleted_User said:

Halifax computer system does the majority of their underwriting so if an offer is issued i really wouldn't worry 

Hello again lovely people. I had one last question that you may well be able to assist me on 😃 
So as I previously mentioned I did not declare missed payments there is a 6, a 2 and some 1's from over 4 years ago and one single missed payment from 9 months back. I didn't do this on purpose as I had totally forgot about them. My question is...
I have spoken to my Halifax mortgage advisor (I went direct) and explained the situation. They said there is no need to change the answer from no to yes but they will put a note on my file to say I called to declare. Will this be looked upon favourably in an audit? As the auditors will then see that it was not an intentional omission. I am aware that all adverse will be picked up on credit search but I don't want to get declined in an audit because they thought I was being dishonest. Is me calling to tell Halifax the same as me essentially being upfront about my missed payments?

I know many will say to keep schtum and hang tight but I thought I would be honest. My mortgage advisor said it should be a non issue but I would feel a darn sight better knowing that I was as upfront as possible. Just want to protect myself in the unlikely event of an audit. I was told that I was an A pass on full application 

Zappy121

I should add that I have been credit searched several times so far so they must have picked up the missed payments on one of these searches 😃

Zappy121

Hi luvvies,
Any reassuring words or advice? 😃

Zappy121

One more thing to add. The single missed payment from 10 months ago shows on my transunion and equifax accounts but not on Experian. Would Halifax still have seen this?

Zappy121

Morning all, was hoping to wake up to a response. Had a wee bit of a restless night. Can anyone offer up some pearls of wisdom?