How reliable is a Mortgage in Principle from Halifax

Mortgage_99

Hello… I have a bit of a weird question hoping someone can answer 

How reliable is a DIP/MIP/AIP from Halifax. Basically me and my girlfriend were  recently given a Agreement in Principle after our broker applied for us through Halifax. They agreed and said they would just need payslips from us. 

My girlfriend has a default from 2018 but our broker put this all through when applying. 

The main problem is that she got her current account closed by Halifax and they gave her a 60 day period stating the account would be closed by the end of that time back in 2018. She didn’t get a Cifas/Hunter marker or anything.

My question is…would the background searchs for example her account being closed previously by Halifax some years ago be accounted for when an Agreement in principle was done…or can they turn around at the full application and can this then come up. From reading other people’s forum’s they seem to say that Halifax barely ever reject at full application after an AIP is passed if everything else is in line. 

I’m thinking that surely this would have flagged up at AIP stage and they wouldn’t have offered us it if this was a problem. We are worried that at full application they will turn us down.

Noneforit999

AIP as far as I know is merely a soft credit check and this is combined with the figures you input for a basic affordability check so unless you have horrific credit history, this would likely pass if you just had a couple of missed payments but that doesn't mean the full application would be 100% ok. 

Once you apply for the full mortgage, they will do a full credit check where things like missed payments and default etc will show up and they will then do a more in depth affordability check in terms of checking your ability to pay if rates were to rise. If you scrape through in terms of affordability on say 2%, they will likely decline once they run your finances against say a 6% mortgage to account for rate rises.

london21

You would not know until you make full application.

AIP gives you an idea based on what was inputed.

 They would have informed her the reason her account was closed. 

Mortgage_99

london21 said:

You would not know until you make full application.

AIP gives you an idea based on what was inputed.

 They would have informed her the reason her account was closed. 

No they didn’t inform any reason they just closed it and didn’t give a reason. 

Thrugelmir

Mortgage_99 said:

london21 said:

You would not know until you make full application.

AIP gives you an idea based on what was inputed.

 They would have informed her the reason her account was closed. 

No they didn’t inform any reason they just closed it and didn’t give a reason. 

Accounts don't get closed for no reason. Activity of some kind was the trigger.