Halifax

[Asian]

Hello All,

Needed a suggestion. I applied for Halifax mortgage through couple of consultants, as per them the maximum Halifax can offer us 85% LTV. Unfortunately we do not have 15 percent deposit on us. I then tried applying for AIP myself but the result was same as above. I got a call from Halifax mortgage advisor today to understand if we are interested in going ahead with their mortgage, I did tell them the above issue, she suggested that we have a detailed call this week to check if 90 percent LTV is possible. Do you think it makes sense to have this call. Has anyone got positive results post this call. Please advise.

Speak to a broker

Yes I have spoken to couple, all say 85 percent LTV. The person who called me was directly from Halifax.

A broker will give you better deals as they can access the whole market, not just products from a particular bank.

Did your broker say why 15% only?

We were with Halifax when we moved house and needed to extend our mortgage. It tooks ages and they wouldn't lend us the amount we needed so we ended up changing lender (and paying the early repayment charge...) Very nice guy on the phone but a bit of a pain really.

If you got 90% there is a high probability that you are in negative equity 12 months from now x

i am a mortgage advisor and I would recommend that you find one. The branch advisors (in all branches) have a tendency to promise you what you want to get an appointment booked in. I’m not sure how it works but assume they have targets to meet with booking client meetings? A good advisor can tell you what your best options are.

Yes I am working with a mortgage advisor. Any harm in taking this call, maybe it will work out?

So Halifax is offering me 85 percent mortgage whereas I am looking for 90 percent mortgage.

Why apply to Halifax when they won't give you the ltv you need. What specifically is it about Halifax?

Since we are not yet UK citizens, only few lenders are comfortable with lending us. Halifax is one of them :)

That makes sense, it also makes sense why they are insisting on 15%. Some mortgage brokers are better than others though so it might be worth checking that yours is good on non typical cases, a good one wouldn't have put you in that position.

Try HSBC - very good with non UK citizens

Sure, will try