Halifax declined my mortgage

Sj141

Hi,

I applied for Halifax mortgage today and it was declined after few hours. The mortgage advisor just told that the head office found something in their internal or external database. She refused say more about it. 

I am really clueless.
Does anyone has any idea?

Windofchange

I'm not sure that a group of random people on the internet who have no idea of your circumstances are going to be able to shed any light. Defaults? Debts? Gambling? Links with dodgy businesses? Too many loans? Payday loans? Started a new job recently? Robbed a bank in Dubai?

Thrugelmir

Any historic financial relationship with any entity within the Lloyds Bank group of companies? 

Sj141

Thrugelmir said:

Any historic financial relationship with any entity within the Lloyds Bank group of companies? 

Yes, I have bank account with them but I disclosed everything about my credit commitments.

MovingForwards

Wanting to borrow more than their maximum affordability for your income?

Have you checked a the credit reports for both of you?

Have you requested CIFAS and the other one to see if something has been added as a warning to potential lenders?

Speak with / go with a broker as all you are doing is trying pot luck, a broker will know criteria, have good relationships with business managers and run through your application before submitting it to make sure they'd be ok with your circumstances.

Sj141

MovingForwards said:

Wanting to borrow more than their maximum affordability for your income?

Have you checked a the credit reports for both of you?

Have you requested CIFAS and the other one to see if something has been added as a warning to potential lenders?

Speak with / go with a broker as all you are doing is trying pot luck, a broker will know criteria, have good relationships with business managers and run through your application before submitting it to make sure they'd be ok with your circumstances.

Thank you for your reply. The maximum amount I was able to borrow was £414000. I needed a loan of £380000.

Yes, I have requested for CIFAS and National Hunter reports for both.

I have checked all three credit reports but I can’t find any marker on CIFAS.

Brie

Sj141 said:

The maximum amount I was able to borrow was £414000. 

who told you that?  they obviously got something wrong.

Sj141

Brie said:

Sj141 said:

The maximum amount I was able to borrow was £414000. 

who told you that?  they obviously got something wrong.

We applied for AIP and based on our income, we were able afford maximum of £414000. They offer 5 times if the joint income is over 75k and you have 15% deposit.

london21

Get a broker and try another bank.

Sj141

london21 said:

Get a broker and try another bank.

Thank you for your advice. This was my second application. I am really worried that it will adversely affect my credit score if I try another lender.

london21

Sj141 said:

london21 said:

Get a broker and try another bank.

Thank you for your advice. This was my second application. I am really worried that it will adversely affect my credit score if I try another lender.

What happend with your first application?