Halifax now refusing to mortgage our property

csgohan4

warwick2001 said:

csgohan4 said:

brianposter said:

csgohan4 said:One wonders why there is a complaint culture in this country. Complain for the sake of, especially in this case where it doesn't involve the OP since they are not the one's obtaining the mortgage as the buyer ergo not the customer. 

There are a lot of eggs preceding that particular chicken.

Among those are;

a) A generalised failure by businesses to provide access to a responsible human when a problem arises. It is a basic failure of much British management since the advent of computers.

b) A general lack of interest in customer service exemplified by the failure to deal with telephone calls. It is often easier to complain than hang on the telephone.

c) The stupidity of PPI which has given rise to a whole industry of speculative complainers.

a) A very defensive business culture which invents excuses such as “You are not a customer” as a way to avoid problems. In the long term it does not avoid problems and simply results in businesses which fail to learn because they do not engage with people.

There is no good reason why the Halifax should not try to explain matters to the OP.

If we want to improve matters, as a start we could readily ensure that businesses answer their telephones promptly, and in the longer term, ensure that businesses are not controlled by people who are merely managing money.

It is explained by the race to the bottom. Classic example is car insurers, cheap premiums but rubbish CS. Something's got to give, you can't have both and we can't all afford to get Hiscox insurance. 

in response to your 4th point, would you mind if your vendor knew your mortgage got declined over a CCJ? There's a reason why GDPR/ Data protection is in place, or any noisy busy body can come snooping. 

Ultimately it is the effects of capitalism, money makes more money and out of the 3 , Service, efficiency and cost, not all 3 are going to be satisfied fully. 

I'm sure the question/complaint wouldn't be "why didn't you lend to Mr X?". The question/complaint would be "why will you not lend on property X?". A subtle difference, but important, and nothing to do with GDPR. The OP is complaining that the Halifax lent on their property 3 years ago, but won't now.

As far as I'm aware, the OP has been told that Halifax will no longer lend on a property of the type they own i.e. flat above garages. Not that the Halifax will not lend to the ex-buyer. The ex-buyer may offer on a 'standard' 2 up 2 down semi-detached house, and get the funding from the Halifax no problem.

Asking why the Halifax will no longer lend on property X, when previously they did, is a perfectly valid question. I'm sure it won't change the fact they wont lend on it (and the OP will still be unhappy), but at least they could explain why. And I'm damned sure there'll be no compo paid due to this. Like many other posters on here have already said, the lending criteria has most likely changed (Halifax are perfectly within their rights to do this), so they could quite easily explain what has changed to the OP.

Of which the answer will be, sensitive  commercial criteria cannot be shared.  They are under no obligation to lend nor tell you why. The OP needs to direct their energy to something that will be more meaningful, like auctioning, cash buyers e.t.c than be stuck on this one lender and crying foul of rules which are non existent. 

Crashy_Time

Good advice.

kingstreet

The one thing which has changed in the intervening period is Lloyds Banking Group's chosen surveyor. Three years ago Lloyds owned Colleys and valuations were done kind of "in-house".

Then LBG sold Colleys to Esurv and granted Esurv the role of panel manager which means all valuation work goes to/through Esurv. It's therefore possible a Colleys surveyor three years ago was prepared to accept this property is suitable security for a mortgage where today, an Esurv surveyor won't.

Grenfell fire was June 2017, well before the current owners' purchase.

Crashy_Time

The repercussions are still being felt though?

emmajones1976

kingstreet said:

The one thing which has changed in the intervening period is Lloyds Banking Group's chosen surveyor. Three years ago Lloyds owned Colleys and valuations were done kind of "in-house".

Then LBG sold Colleys to Esurv and granted Esurv the role of panel manager which means all valuation work goes to/through Esurv. It's therefore possible a Colleys surveyor three years ago was prepared to accept this property is suitable security for a mortgage where today, an Esurv surveyor won't.

Grenfell fire was June 2017, well before the current owners' purchase.

Indeed it was however its only been in the last 2 years or so that the proverbial has hit the fan.

brianposter

Just as a matter of curiosity, if you ring a bank and ask "Do you lend on a flat with xyz characteristics ?", what do they actually say ?

kingstreet

brianposter said:

Just as a matter of curiosity, if you ring a bank and ask "Do you lend on a flat with xyz characteristics ?", what do they actually say ?

"That's dependant on our surveyor's comments."

Crashy_Time

emmajones1976 said:

kingstreet said:

The one thing which has changed in the intervening period is Lloyds Banking Group's chosen surveyor. Three years ago Lloyds owned Colleys and valuations were done kind of "in-house".

Then LBG sold Colleys to Esurv and granted Esurv the role of panel manager which means all valuation work goes to/through Esurv. It's therefore possible a Colleys surveyor three years ago was prepared to accept this property is suitable security for a mortgage where today, an Esurv surveyor won't.

Grenfell fire was June 2017, well before the current owners' purchase.

Indeed it was however its only been in the last 2 years or so that the proverbial has hit the fan.

Good way of putting it.

[Deleted User]

emmajones1976 said:

Surely it's rather obvious what has changed. She lives in a flat, and then Grenfell happened. It's not rocket science.

Yes, I said that many pages ago. There's no need to speculate, it's just that all flats are now nearly impossible to borrow against because there are so many unknown problems with them.

Crashy_Time

All flats?