Link and Halifax Loan + sep Halifax OD

[Halfwaythere]

re:

 

Got a response from Link re my settlement offer of approx £2090 for £8152 and offered me 

£6,525.32 

 

20% discount

[London1971]

How very considerate of them..

[Halfwaythere]

Quite good for them they are particularly tight, no chance thought at that, counter offered £2800. And not accepting any until I get a CCA

[dx100uk]

who says you'll ever be paying anything, .............................

 

 

[Halfwaythere]

I probably will because I want to get a mortgage 

[dx100uk]

paying the debt won't help that any...the default is there for 6yrs paid or not, paying or not.

 

dx

 

 

 

[Halfwaythere]

Yes but if I apply whilst my Default is still on my account with a broker, then it being a paid off one will be better than an owing one surely ?

[dx100uk]

nope doesn't make any odds whatsoever.

brokers or IFA's will always rip you off on fees anyway.

 

go direct to your bank or other prime lenders.

but your defaults are 2018 so 2024 at best but it depends upon the lender

some as already said, will give you a good mortgage rate even with defaults...

 

dx

 

[Halfwaythere]

Wouldn’t I have to go through a broker to get a mortgage with adverse credit. So My defaults drop off jan/feb 2023 does this mean if they drop off owing lenders can’t see it? 

[London1971]

Right once your defaults have dropped, they are invisible to any lender. At that point it's likely you could walk into a branch of a high street bank and get a mortgage. 

 

Answer to whether a bank will lend to you at this point in time, is, give it a try but probably not. In fact it's unlikely, at least for another year or 2. Although a 25% deposit would probably make it work.

 

A decent broker won't charge you, they earn from the mortgage company.  They will be able to give you some sub prime options. Then after a couple of years you might be able to re mortgage onto a prime lender.

 

Also don't forget you can leverage help to buy, in order to boost your deposit on new builds! I would look into that also.

 

 

 

 

[Halfwaythere]

I would be looking at help to buy as I am a first time buyer.

 

so forgive me if I sound like a stupid broken record (I am well aware of this). If my defaulted accounts drop off with amount still owing will lenders see I still have an amount owing or am I better putting my 12k towards a mortgage than to them ? Thanks 

Edited July 24, 2020 by Halfwaythere

[dx100uk]

once a default reaches 6yrs the whole account and any duplicate entries for the same debt vanish from your file.

mortgage lenders cant see the calendar section of any debt unless they are in the same 'banking group' .

and ofcourse you don't tell them....

 

your issues are going to be getting rid of the dreaded AP listing, as i believe that is shown in the debt summary as arrangement to pay, same place as where defaulted date shows?

 

time to get reading up HWT

[Halfwaythere]

Request a SARS from Halifax from my loan and all I have got in the post with no covering letter just a couple of sheets of a run down of my loan payments/a statement, is this what I should expect?

[Halfwaythere]

Update I offered £2800 and link responded with a 25% discount. 5% improvement. Told them I can’t pay above £3000 and have been advised to apply for a DRO

[London1971]

You’d expect, screen shots, phone conversation dates and recordings etc as part of a Halifax SAR. 
 

I don’t know why you are wasting your time with Link. It’s a long thread To read back through did they return your CCA?
 

Honestly, even if they do I’d just ignore them.

[Halfwaythere]

No I just got 2 piece of payment statement, strange. 
 

No Link have not returned my CCA but it is only one week since they received it.

[London1971]

Maybe there is more on the way from Halifax ?

 

As for Link, I’d push them to the back of my mind.

 

 

[Halfwaythere]

Yes think I will for at least a year 

[Halfwaythere]

HELP!

 

i have just received about two phone books worth of info from Halifax after my SARS request, what am I looking for ? 

[dx100uk]

re read this thread

 

dx

[Halfwaythere]

I have and read the SARS link and I am still struggling with what I am looking for 

[dx100uk]

how much of the debt is real and not made of unlawful fixed sum £12+  penalty fees like late/over/letter/debt management 

add those all up from day one.

[Halfwaythere]

Ok, how do I know if it a lawful or not late fee?

[London1971]

Brilliant, there was more to come.

 

look carefully there should be a page of 3 letter codes.

 

One of them should give you the date of the default notice, when it was sent out

 

Plus you should be able to determine the exact date of your last payment to them.

 

Plus the date it was sold to Link.

 

From this you can tell if it's statute barred.

 

 

[Halfwaythere]

It all happened very quickly and I’ve kept paying so not statue barred .

 

soooo much paper work it’s all very foreign to me but they have included codes and explanations