Hi all,
I applied for a mortgage on a shared ownership house a few weeks ago.
I got in touch with an IFA who works very closely with sovereign and ticks all the boxes for this kind of mortgage.
After a credit check I received a decision in principle from Halifax for £99000.00 so my mortgage request for £25000.00 was well under what they were "prepared" to lend me. The DIP was subject to me providing the correct information - tick! and a satisfactory valuation on the property.
I received notification that my application for the mortgage had been accepted and the Valuation would then take place on Thursday last week, and I'm assuming it came back fine.
Now my problem is that Halifax have come across a linked address on my credit report. I have run an experian and an equifax report for myself and can't figure out what the problem is as I had no bad debt from that address, plus it was over 6 years ago. So now the mortgage is at risk.
I have asked equifax to remove the address, which the woman on the phone was quite confident in doing an online request with me for that reason.
Fingers crossed it will be removed and I can continue!
Now since the DIP was provided after my credit check AND my mortgage application was accepted, I have now forked out over £900.00 in solicitors costs and valuation fees only to find out it could all be for nothing.
Where do I stand in recovering these costs from Halifax if the mortgage doesn't go through? Surely if my credit was checked before the DIP was produced they should have seen this linked address then?
Thanks in advance.
Mark
I applied for a mortgage on a shared ownership house a few weeks ago.
I got in touch with an IFA who works very closely with sovereign and ticks all the boxes for this kind of mortgage.
After a credit check I received a decision in principle from Halifax for £99000.00 so my mortgage request for £25000.00 was well under what they were "prepared" to lend me. The DIP was subject to me providing the correct information - tick! and a satisfactory valuation on the property.
I received notification that my application for the mortgage had been accepted and the Valuation would then take place on Thursday last week, and I'm assuming it came back fine.
Now my problem is that Halifax have come across a linked address on my credit report. I have run an experian and an equifax report for myself and can't figure out what the problem is as I had no bad debt from that address, plus it was over 6 years ago. So now the mortgage is at risk.
I have asked equifax to remove the address, which the woman on the phone was quite confident in doing an online request with me for that reason.
Fingers crossed it will be removed and I can continue!
Now since the DIP was provided after my credit check AND my mortgage application was accepted, I have now forked out over £900.00 in solicitors costs and valuation fees only to find out it could all be for nothing.
Where do I stand in recovering these costs from Halifax if the mortgage doesn't go through? Surely if my credit was checked before the DIP was produced they should have seen this linked address then?
Thanks in advance.
Mark