Bit of a problem and I'm hoping someone can help:
I recently applied through a broker for a mortgage, he initially contacted Nat West and we were approved in principle for a 90% - we found a property and began to make a full application and it was declined immediately. I was angry with my broker as I felt he had mis led me, we then secured a AIP with Halifax for 85%, he explained as the deposit was higher we should be fine on the credit score. I was worried but he assured me all OK - my partner has 2 defaults amounting to £590 on his Experien credit report, I asked my broker if I should pay these off as I was concerned it may effect a decision but he advised us not to as it doesn't make a difference.
Anyway, Halifax approved the full application based on salary confirmation, all good and all done, then internal file check was requested but came back fine, valuation transcript was requested and it was fine, we were told we would get an Offer of Loan in next 2 working days. I had to keep on at my broker and eventually he contacted his intermediary at Halifax who checked the case and sent me an email to say only needed 'rubber stamping' and it would be out the next day. I called my broker the next day to find Halifax had declined my mortgage????!!!!!
I am stressed, upset and now lost a house and have to move out of my rented flat as we were told we had the mortgage. After a number of phone calls to Halifax and broker it appears that the issue was my partner has had more than 3 addresses and they check the last one manually after all approved - this produced a default that we are not aware of and they won't tell us who it is with or the amount outstanding? We have made a complaint about the process they have used and we have been told we can appeal the decision although we must pay off the defaults - this is not a problem and I have done it today (I would have done it before the application however my broker said we didn't need to?).
Does anyone know if paying off £591 ans appealing will make a difference?? Is it likely they will change their minds in light of the fact that their process is awful and they should perform a full credit check at the outset of the application?
If anyone has any advise I would love to know what to do!