Help understanding my mortgage refusal Halifax

jabeir10

Hi All. Firstly hope im not repeating a thread or sounding silly. So i applied for a mortgage with a broker with halifax with two jobs. A full time job and part time both permanent and had it for a while to meet criteria especially how long ive had the second role for. 

Anyway, got my DIP, got my offer accepted by the owners, went as far as the underwriting part. And at that last hurdle i was told by my broker it was refused. Broker was not told apparantly exactly why, but all he was told was it was to do with the second job. When i ask them they say they can’t tell me as its their policy incase i assume i try to cover up something. Cover up what though is my question. 

My credit is clean, excellent score, never had issues with bills, no debts, or Court orders CCJ’s. Basically nothing negative. 

Moving on, i did a SAR form. Subject access request and says it was declined because “unable to validate income declared on application” and says by the Halifax credit decisioning team. 

Im so confused what it could be they could not validate. Broker says its the second role. Its an admin role who are a small local business. My full time role is with the NHS so i know that one is fine.

I paid my normal taxes under PAYE for both, national insurances, all on HMRC to see, payslips, bank statements alike to match and still thats what they came back with. 

So anyone, any advice why or what they mean when they say they could not validate income declared in application? I asked my broker again if he missed out on telling me anything, he said no. And all he said was it was to do likely with not being able to find any company info. Its a online ecommerce company trading for years, address, name of directors etc online on government business sites and companies house. 

Im distraught by it. Will this have an impact on me in future? I worry over smallest of things. And would hope it doesnt hamper me getting a mortgage later this year. 

Thank you for reading and sorry for the long long long message. 

Dazed_and_C0nfused

Have you checked your Personal Tax Account on gov.uk to see if the second job shows up as expected?

Thrugelmir

Full time job and part time job. There's the issue. Meeting criteria to hit an income level isn't a tick box exercise. 

K_S

@jabeir10 Sorry to hear about the decline. Don't beat yourself up too much. This is the Halifax criteria for a second job income

In cases where the customer has more than one job, we will consider the following when deciding whether or not to take the secondary income into account. Hours worked, are they sustainable? Are the roles/skills similar? What is the distance between the jobs and the customers home? How long has the customer been in both jobs? Is the salary consistent with the type of employment? And the number of days the customer works per week.

As you can see, there's a lot of subjectivity involved in deciding whether to consider the second job or not, it's not just a matter of being able to provide payslips and salary credits. In this case it looks like the underwriter was insufficiently convinced that the second job is sustainable for one or more reasons.

You can rest assured that the Halifax decline will have no material impact on your further mortgage chances, it's just one hard check on the credit report.

jabeir10

Dazed_and_C0nfused said:

Have you checked your Personal Tax Account on gov.uk to see if the second job shows up as expected?

Hi, I've checked, all in order. Everything as it should be at the time. 

What i worry is will i be in an issue where this affects me? And i thought underwriters check? Rather than the halifax credit decisioning team? 

I thought i was in trouble for no reason. Again i worry too much and over think. Sorry

jabeir10

Thrugelmir said:

Full time job and part time job. There's the issue. Meeting criteria to hit an income level isn't a tick box exercise. 

Yes of course. I know, but i thought i met all the criteria, broker did it all and said its fine. Doesnt mean mortgage is guaranteed but just really didnt see why my second role had issues. 🥺

jabeir10

K_S said:

@jabeir10 Sorry to hear about the decline. Don't beat yourself up too much. This is the Halifax criteria for a second job income

In cases where the customer has more than one job, we will consider the following when deciding whether or not to take the secondary income into account. Hours worked, are they sustainable? Are the roles/skills similar? What is the distance between the jobs and the customers home? How long has the customer been in both jobs? Is the salary consistent with the type of employment? And the number of days the customer works per week.

As you can see, there's a lot of subjectivity involved in deciding whether to consider the second job or not, it's not just a matter of being able to provide payslips and salary credits. In this case it looks like the underwriter was insufficiently convinced that the second job is sustainable for one or more reasons.

You can rest assured that the Halifax decline will have no material impact on your further mortgage chances, it's just one hard check on the credit report.

Thank you so much, gives me relief. Also i worried if may be its too do with my credit which is perfect no issues but may be i had something i didnt know like a nhunter/cifas mark. Because some have those without knowing. So no cifas but have submitted a nhunter SAR just to be safe.

Apparantly they just couldnt verify the second job company. Strange. 

Thrugelmir

jabeir10 said:

Thrugelmir said:

Full time job and part time job. There's the issue. Meeting criteria to hit an income level isn't a tick box exercise. 

Yes of course. I know, but i thought i met all the criteria, broker did it all and said its fine. Doesnt mean mortgage is guaranteed but just really didnt see why my second role had issues. 🥺

Your broker isn't an underwriter. They are the ones empowered to make lending decisions on behalf of the Halifax.