Hello everyone,
This is my first time to post on this forum needing some advices on my mortgage application to Halifax.
I got my AIP from Halifax in mid March with grade B which means I could get 85% LTV but in that moment I was looking for 90% LTV so I also seek help from London & country mortgages as my mortgage broker. L&C turned out eventually saying they are unable to get the offer with 90% LTV for me from the market and I found there are two searches on my credit files already made by them in the beginning of April. (same day)
After L&C turned me down, I went back to Halifax, and prepared more deposit to get the 85% LTV two weeks ago and arranged the valuation done. (I did tell the advisor the truth that i tried the broker hoping to get 90% LTV but failed) Then I received the valuation letter last Monday and the advisor submitted my application on Thursday.
Because I haven't heard anything since then, today I rang the mortgage advisor, he told me the case has now been referred back to him due to the grade was pulled down to C which means I can't borrow the amount I want and he can also see there are three more searches on my credit files done last Friday which I would assume these searches should have been done by Halifax themselves. He is not sure if this is the reason changing the grade and I'm not sure if the searches made by L&C would impact my score as well....
He is now asking their internal assessor to double check the reason why my score was changed and we are also wondering if it's because the address format the assessor used is different from the correct one. ( when the advisor was trying to give me AIP, we did try a couple of address format searches to locate my details)
Before the advisor submitted the application, he told me I should get solicitor start search works now and there's no reason why their assessor would turn me down since he has underwritten my files and the valuation result is good. I didn't follow his instructions but asked my solicitor to hold until I received the offer and this does make my current situation better. However, the surveyer cost has been made and so much efforts I have put in to get everything ready..
I know getting a mortgage offer is not going to be a straight forward task to me coz of my situation (listed below), and that's why we spent much time preparing the documents and the advisor did give me confidence to carry on getting everything ready before having the offer but now I don't know what can I do.
If the score was changed due to the searches for mortgage application, would there be any chance to get the score back...?
My situation is as follows,
I'm not a UK citizen and my work visa only has 1.5 years before expiry. (This point makes halifax the only choice I could have)
No credit issue/ bankruptcy/ default on my credit report but now I might have 5 searches in total on my report (2 from L&C and 3 from Halifax)
I have a permanent job and have been working more than three years. (I got all the reference letters for halifax)
I'm a first time buyer
I have three address in the past three years (which made my score down as well, but we knew this issue when I got score B)
Any comment would be appreciated, it's really so frustrating in this moment...
Regards and thanks everyone for reading
This is my first time to post on this forum needing some advices on my mortgage application to Halifax.
I got my AIP from Halifax in mid March with grade B which means I could get 85% LTV but in that moment I was looking for 90% LTV so I also seek help from London & country mortgages as my mortgage broker. L&C turned out eventually saying they are unable to get the offer with 90% LTV for me from the market and I found there are two searches on my credit files already made by them in the beginning of April. (same day)
After L&C turned me down, I went back to Halifax, and prepared more deposit to get the 85% LTV two weeks ago and arranged the valuation done. (I did tell the advisor the truth that i tried the broker hoping to get 90% LTV but failed) Then I received the valuation letter last Monday and the advisor submitted my application on Thursday.
Because I haven't heard anything since then, today I rang the mortgage advisor, he told me the case has now been referred back to him due to the grade was pulled down to C which means I can't borrow the amount I want and he can also see there are three more searches on my credit files done last Friday which I would assume these searches should have been done by Halifax themselves. He is not sure if this is the reason changing the grade and I'm not sure if the searches made by L&C would impact my score as well....
He is now asking their internal assessor to double check the reason why my score was changed and we are also wondering if it's because the address format the assessor used is different from the correct one. ( when the advisor was trying to give me AIP, we did try a couple of address format searches to locate my details)
Before the advisor submitted the application, he told me I should get solicitor start search works now and there's no reason why their assessor would turn me down since he has underwritten my files and the valuation result is good. I didn't follow his instructions but asked my solicitor to hold until I received the offer and this does make my current situation better. However, the surveyer cost has been made and so much efforts I have put in to get everything ready..
I know getting a mortgage offer is not going to be a straight forward task to me coz of my situation (listed below), and that's why we spent much time preparing the documents and the advisor did give me confidence to carry on getting everything ready before having the offer but now I don't know what can I do.
If the score was changed due to the searches for mortgage application, would there be any chance to get the score back...?
My situation is as follows,
I'm not a UK citizen and my work visa only has 1.5 years before expiry. (This point makes halifax the only choice I could have)
No credit issue/ bankruptcy/ default on my credit report but now I might have 5 searches in total on my report (2 from L&C and 3 from Halifax)
I have a permanent job and have been working more than three years. (I got all the reference letters for halifax)
I'm a first time buyer
I have three address in the past three years (which made my score down as well, but we knew this issue when I got score B)
Any comment would be appreciated, it's really so frustrating in this moment...
Regards and thanks everyone for reading