Halifax now refusing to mortgage our property

NiseMya

canaldumidi said:

NiseMya said:

emmajones1976 said:

Is it a flat?

It is yes. It’s a non-standard construction flat above garages. 

Well there you go. Two quite possible explanations.

But it’s always been a non standard flat above garages? Halifax we’re fine to mortgage it 3 years ago but are now refusing without giving us any explanation. 

Snookie12cat

NiseMya said:

user1977 said:

That's not really what "mis-selling" means.

If it was suitable for them when you bought, and now isn't, then obviously either something has changed in their criteria, or the valuers had different opinions about the property. Haven't your buyers investigated other lenders? 

Luckily we are using the same mortgage broker now as we did 3 years ago and she is the one who told us to raise the complaint as she has investigated herself and told us that something doesn’t add up. 

She potentially found one other lender to try but our buyer has now pulled out due to the hassle of all this. 

Your buyer couldnt have been all that serious if they wouldnt even try another lender...

emmajones1976

Indeed this is not your mess to sort, you cant complain as it isnt your (potential) mortgage.

If they have pulled out then its time to move on, sadly.

NiseMya

charlotteo1988 said:

The house we brought was classed as unsuitable or of £0 value until we had 6m2 flat roof checked. 

It might be something the valuer thinks needs investigating before they confirm. Turns out the flat roof was fine and didn’t need replacing and all we had to do was get a roofer out to survey it and write a report to say it was fine. Sent that to the mortgage company and next day it was valued at the price we brought it for. 

Have the buyers decided to get a homebuyer survey done? And has the mortgage company said exactly why they class it as unsuitable? 

The buyer has now pulled out of the sale due to the hassle. 

We had a structural engineers report done on the property 3 years ago and again this time and nothing had changed. 

They wouldn’t specify what deemed it unsuitable which I find odd, nor would they disclose this to the broker who was sourcing the new mortgage. “Future saleability” was mentioned to our broker but she said this was ridiculous as it’s sold twice in 3 years and it’s sold instantly both times. 

csgohan4

Criteria change all the time, as does interest rates. Part of the stress of buying/selling

NiseMya

charlotteo1988 said:

P.S I don’t think Halifax have missold you a mortgage as your house is still currently under mortgage and your still paying for it. I don’t think your complaint will go anywhere unfortunately. 

Also why are you doing all the chasing if it’s the buyer who is buying the property they should of been told why it is unsuitable and get the relevant surveys/reports etc done to reassure Halifax they can offer a mortgage. 

Our broker advised us to raise a complaint to get this looked into as she couldn’t do it on our behalf. The buyer pulled out yesterday too so he won’t be pushing anything. 

We got a structural engineers report done again and it came back the same as it did 3 years ago but still Halifax just said no 🤷🏼‍♀️ 

canaldumidi

NiseMya said:

canaldumidi said:

NiseMya said:

emmajones1976 said:

Is it a flat?

It is yes. It’s a non-standard construction flat above garages. 

Well there you go. Two quite possible explanations.

But it’s always been a non standard flat above garages? Halifax we’re fine to mortgage it 3 years ago but are now refusing without giving us any explanation. 

Non standard construction: definition can change. Quite likely to be this.

Flat: lenders are cautious post Grenville. Quite likely to be this.

Above garages: as with flats above chippies or next to late-night eateries, increasing wariness by lenders. Quite likely to be this.

Your mis-selling complaint is pointless I'm afraid.Worse, it is just time and money wasting.

charlotteo1988

I’d be selling your property with possibly cash buyers only if this is going to be a problem getting a mortgage. 

Likewise as said before buyers couldn’t of been that serious as they didn’t explore other lenders. 

A lot has changed in 3 years but if your mortgage rate ran out on that property and you were going from fixed to variable you would be able to most probably get another fixed rate on your property with Halifax. 

However this is a completely new buyer and Halifax criteria may have changed in those 3 years or they are more cautious on non standard construction. Or the buyers are telling porkies and didn’t realise non standard construction can sometimes be a ball ache in general. 

NiseMya

Snookie12cat said:.

Your buyer couldnt have been all that serious if they wouldnt even try another lender...

I agree but this has been going on since August so I guess he was worried if he would have similar issues if he came to sell the property 

lincroft1710

I doubt you could successfully complain to Halifax about them refusing to offer a mortgage to a third party. Your contract with them is to provide you with a mortgage, not someone else 3 years down the line. They may actually may have made a mistake in giving you a mortgage, but having realised their mistake,are continuing to honour their agreement by not foreclosing