I have been struggling lately due to my family business closing, a divorce that’s another story but now the Halifax bank not renewing my membership that came up in spell checker first I meant mortgage. If you have seen the advertisement Oasis playing stand by me what an absolute joke. That’s the last thing they have done no help what so ever just asked me to fill in forms loads of them not easy with a brain injury as most of you will know. Then if I phone I have to explain in detail everything, every time, transferred, then on hold, more questions even how I intend to pay my wife after the divorce what’s that got to do with them? I already have a mortgage which I have been paying them for the last year. I just need to take my ex wife off that piece of paper but it’s made to be like an exam for becoming a lawyer??
I decided to go into branch and talk to a real person but unfortunately it’s still the same I have spoken to 2 managers and they have given me a case number. So now they refer to me as 154864243 or something similar they should have called me in 48 hours no phone call it’s been 2 weeks.
What I didn’t like though and maybe someone can explain to me what this means as I’m not entirely sure why they have put a star on the disabled toilet door? That’s where I was left to wait for the manager??
Thanks
Chris.
Written by
CW2002
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Hi Chris, there are a couple of issues that the mortgage company will look at, the ability to pay, I assume you were employed in the family business, that in itself would bring into question your ability to pay. What income have you got?
I also was going through a break up when it came to remortgaging, but I had severed all banking from my ex before the divorce.
Any mortgage will be based on ability to pay, so income and expenses, so all bills and any luxuries that you are paying. It will also take account of alimony as this is usually a legally binding obligation. Subtract all outgoings from your income, will give you your ability to pay.
Also from a credit score, they will look at this. If the original mortgage was based mainly on your wife's score, then your score maybe effected, or if you have a great score, but you wife has a poor score, until the link is severed this will impact their decision.
As for the star, I can only imagine that they feel you are special.
The problem I have is I have been paying the mortgage for a year through rental properties that I own this is part of how I earn my money. I also buy and sell properties to give me my income. They seem to dismiss this? What I really don’t understand is why it takes so long to make the decision 8 weeks and a million questions if it’s based on earnings ask what I earn and say no right away? Why put me through all the bull shit.
All they did was send a letter and say no based on earning first time around. So I said what do I have to do and the advisor said to get a job (as my wife also said 2 week after the business closed). My wife’s earning were 45 k and they asked for a letter of employment. So I even got a letter of employment and job just as they asked stating I was earning 45k. So start from scratch all the robotic process again. Still not good enough I have been paying it for a year and have enough equity in my house if I don’t pay take it away. So I have had my second rejection letter and no help whatsoever from them the manager in branch suggested I try somewhere else. Nothing like we could lend you slightly less. I took the following letter in to suggest a new song for the advert. You have to laugh about it 2 weeks still no call back.
In a world of political correctness I just thought the star was quite patronizing but wasn’t sure if it means something else I don’t know about.
The letter is amusing........but not too helpful. Maybe criplady's suggestion of using a broker might give you some options. I know for self employed, I would guess that you would be regarded as self employed, have to produce X amount of accounts.
My brother is facing the same problems that you are securing a mortgage as he and his wife are self employed. They started the process in January, and have repeatedly been asked for more and more evidence without any sign of resolution.
No consolation, but you are not alone in struggling with the securing a mortgage. I know that banks etc have been told to make applications easier, but I think that covid has put a spanner in the works.
If you find out about the star, let me know.
Maybe contact a mortgage broker. You will have to pay them but they can sort everything out for you.
It will cost me 4 k to end my mortgage with the Halifax and go to another lender. So that’s why I would like to stay with the Halifax, if I didn’t have to I would have tried to move weeks ago. The solicitors have given a 5 month dead line to get ex wife off the mortgage. Unfortunately the Halifax work to a robotic routine and I just don’t fit the bill even though I pay them every month. I don’t think they know how to deal with real people which contradicts the advertisement. I put a complaint in on the 17 June they should have called in 48 hours I phoned them after 3 days. Now I’m waiting again for the advisor to ring they said I would be called in 4 week 2 have gone 2 to go.Thanks
All bar one had her name on. It’s been massively costly all round I have instructed my usual solicitor Keebles to transfer to my name on the houses I have mortgage free but I’m still trying to get Accord done. The Leeds we’re fine just wish I had them all with them simply criteria if I don’t match it’s game over find another lender. If I don’t get any help from the Halifax I’m going back to a broker.
I hope it’s going ok for you I briefly read about your husbands accident. The first few years were the hardest for me but with time things got better.
Oddly enough a broker might be able to get you a Halifax mortgage if you talk to them about what you need - or find you the best deal in the market at the moment - nothing to stop you contacting a broker right now - you may not want to be in the position where you have been refused finance.
Do you think the already refused one will go against me as this is the second attempt with the Halifax? I sent my details to a broker already but he hasn’t come back to me yet.
I usually try to do thinks fairly quickly or tend to forget about them. Then get really stressed when it all comes back round again and end up not sleeping vicious cycle really.
Hopefully not CW. Mortgage brokers whether or not based in financial advisor businesses, are well used to cases that may not be totally straightforward anyway, and have access to the full market, so they should be able to sort something out for you pretty quickly - though they might be busier than usual with the property market being so lively.
Try to practice techniques to manage stressing and sleep. Try the free Headspace app to help zone out a bit..
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A little advice please.
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feeling low about how you cant manage, help please
