Halifax Mortgage - FTB

Hi All, 

First time buyer here and stressed beyond belief! We have recently got an AIP from Halifax through our mortgage broker - a couple of historical defaults (in total less than £500) on my file that are satisfied and credit report showing them (one due to fall off soon) - declared this to our mortgage broker and he is still keen to proceed with Halifax. We have had loads of support from him and don't doubt him for a second but I'm wondering if anyone has recent success stories about getting they're mortgage through Halifax despite some credit issues?

For info we are going for new build with 15% deposit, a couple of credit card with balances (manageable) and both in stable permanent jobs with additional income from self employed work (all tax returns up to date and paid).

Sorry for the lengthy read and thanks for any input 😀

Comments

  • amnblog
    amnblog Posts: 12,389
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    If you have passed your AIP with Halifax they will be past worrying about your credit history. The AIP is when they check the credit file.

    Sounds like your mortgage broker is on the right track.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • amnblog said:
    If you have passed your AIP with Halifax they will be past worrying about your credit history. The AIP is when they check the credit file.

    Sounds like your mortgage broker is on the right track.
    Hey, thanks for this info - we have a meeting today to go through mortgage illustrations and I think I'm just panicking along with being overly excited! I've read on older threads that halifax is a soft search and could still be declined (seen lots of doom and gloom where everyone seemed to get declined) - suppose all we can do is make sure we declare it all again at full application stage it and hopefully it flies through! 
    We have also read our AIP and it just requests we provide tax returns and pay slips so fingers crossed it goes our way.
  • Most high street lenders are OK with old defaults, cleared and under £500.  Halifax have a £100 valuation fee that most other lenders don't though.  A valuation is just a gamble as it is a surveyors opinion only, just gives you his idea of the property value, a lot of the time it is just a computer valuation anyway, they don't always visit the house but you still pay £100. Halifax rates are good as well at the moment.  But a few lenders reduced rates in the last few days.  An AIP is just an idea, it assesses the info given to the lender, and credit file.  It is only when you do a full application will they request the document needed and then confirm if the income is OK.  Tax returns if self employed with Halifax is SA302 and TYOs.  
  • ACG
    ACG Posts: 23,622
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    I dont think I have ever had a DIP agreed with Halifax and then declined at application... None I can think of anyway. 

    Halifax are far from a lender of last resort, if there is a problem with Halifax (I doubt there will be from what you have said) there will also be a Plan B and a Plan C - although they will likely cost more. 

    If you are worrying about getting a mortgage, dont. I am pretty sure you will be fine. 
    If you are worrying about getting a mortgage with Halifax, I think it is unlikely they will decline you. But even if they do, it should not prevent you from being able to buy. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thanks both for your comments and reassurance - it sounds like I probably need to stop panicking! It also sounds like our broker would fight our case and find us something but hopefully our mortgage application goes in this week without a fuss! 
  • Calm down and let your broker do their job.

    We had our Halifax mortgage approved with a CCJ on my credit file. It went through without a hitch.
  • Thanks - feeling calmer today! Glad to know it's not all doom and gloom when it comes to securing a mortgage! 
    Chatted it all through with our broker and again he remains keen to go with Halifax so we are putting the application through - fingers crossed its a quick turn around! 
  • JW2709
    JW2709 Posts: 17
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    @RelievedSheff what did your timeline look like from DIP to mortgage offer if you don't mind me asking?  I'm in a similar position, applying with a satisfied CCJ under £500 dating back to 2019.  Gone through a broker.  Completed a DIP with no issue and then submitted full application and then paid £100 valuation fee.  This was all done yesterday and was told this morning valuation was completed.  Now waiting on comms (fingers crossed) for an offer.
  • JamieJ89
    JamieJ89 Posts: 100
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    JW2709 said:
    @RelievedSheff what did your timeline look like from DIP to mortgage offer if you don't mind me asking?  I'm in a similar position, applying with a satisfied CCJ under £500 dating back to 2019.  Gone through a broker.  Completed a DIP with no issue and then submitted full application and then paid £100 valuation fee.  This was all done yesterday and was told this morning valuation was completed.  Now waiting on comms (fingers crossed) for an offer.

    what was the outcome from you and OP? Including timeline from AIP to offer..
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