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Halifax mortgage declined please help

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  • Halifax mortgage declined please help

    Halifax mortgage decline please help
    Hi there I applied for a mortgage last week with halifax but got declined. Upon checking my credit file goth registered a default that was satisfied. The debt had nothing to do with me and got it removed from experian and equifax. This is the main reason for the decline and the there were concern over amount of credit searches.

    The default shows on noodle still not sure about call credit. From the information below do I now stand a good chance of acceptance?

    Age 20
    Salary fixed employed 28k year over 4 years employment same company.

    House new build for 150k
    Deposit 7500
    Help to buy scheme 20% gov loan.

    7 credit searches in past 12 months 4 this year. No ccjs, defaults, missed payments, finacial associations.

    I also think I might have a CPD (credit policy decline with llyods will this make a difference? No account with halifax)

    5 credit cards, around 500 debit (just cleared £500 yesterday) and three mobile phone contracts.
    I just think if I pass first stage the underwriters will reject because of age. Though I'm keeping upbeat.

    Single application

  • #2
    Re: Halifax mortgage declined please help

    Try somewhere else.
    Just because Halifax refused it doesn't mean other lenders will.
    I suggest you avoid new homes and the help-to-buy equity scheme - you will probably get better value elsewhere in the market.
    BRAND NEW HOMES
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    • #3
      Re: Halifax mortgage declined please help

      New homes is right - depending upon your credit score you may have more success elsewhere.

      However, more detail is required to assist further.

      - help to buy equity scheme
      As much as I hate to admit it, new homes is also right regarding avoiding new buy equity schemes. Lenders apply a tougher credit score criteria when applying for such "affordable housing scheme" mortgages; I've seen clients pass at 90% loan to value for a standered mortgage but fail with the same lender at 90% loan to value for a equity share scheme.

      - age
      your age should have no affect upon your application.

      - lloyds group
      looks like you'll need to avoid the lloyds group - but there are other lenders providing equity share mortgages.

      - credit file
      to fully assess your chances, it would be a very good idea to see your credit file.

      I presume you are the sole applicant.

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