New mortgage application - declined Halifax

haras_nosirrah · 20 July 2019 at 1:50PM

halifax are one of the more leniant high street lenders
I think though that payday loan will take you off high street

I would wait to see what halifax say before deciding whether to pay off any of debt. Due to your income affordability isn't the problem.

Finance060319 · 20 July 2019 at 1:52PM

It’s one that all of our family use, whole of market but the fee is taken from the lender.

nowhereboy · 20 July 2019 at 2:15PM

You can check halifaxs lending criterea online on their brokers pages. I’d say it was pretty clear this would be a decline with halifax and would therefore have my doubts about your broker.

We had the same issue, went to a non fee paying broker who placed us with adverse lenders and we got declines. We went to a fee charging broker and got accepted on our first application with a much better deal (with halifax funnily enough).

haras_nosirrah · 20 July 2019 at 2:17PM

If Halifax come back as a no and your broker says they can't get anything then consult another broker. Expect to pay a fee. Fee charging brokers can take less clients and spend more time on cases which can make all the difference. See what your broker comes back with first but if nothing then expect to spend around 500 for a broker to spend time fighting for you. I would only pay a fee on receipt of a successful offer

I think there are options out there. This is the kind of case where we would spend a lot of time speaking to bdms in advance so would charge a fee but I think with your equity and income it is placable.

Finance060319 · 20 July 2019 at 2:21PM

Thanks, perhaps I should look to switch broker? Do you think there is still hope for us in being able to get mortgage (preferably under 3%)!

haras_nosirrah · 20 July 2019 at 2:24PM

Without seeing the credit report and doing a fact find I wouldn't say 100% which lender or what percentage as the devil is in the detail and it would be a case of getting all info upfront and hitting the phones. I think though based on what you have said the case would be placable.

Finance060319 · 20 July 2019 at 2:38PM

Thanks, I would’ve imagined our broker wouldn’t have done that in advance, especially after requesting so much documentation for us.

muhandis · 20 July 2019 at 6:05PM

Your broker does not inspire much confidence. I would definitely consult another broker.

New mortgage application - declined Halifax

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