Either Halifax’s rules are ga-ga or I am

Am I the only broker trying to deal with stupid rules and regulations set by Halifax policymakers?

Until recently Halifax seemed to have a relaxed approach to documentation but I have spent the past few days trying to understand why it is now making our job more complicated than it needs to be.

First, it applies the formula that if you have children it will lend less, but if you have children you receive a family allowance and it will lend more. Is it me going ga-ga here? I always thought it was a case of ‘keep it simple, stupid’. Will someone please tell the powers that be at Halifax this?

It then asks for three months’ payslips which I photocopy and certify only to discover it decided to write

for a reference anyway. I gave up as an employer eventually sent the income confirmation but failed to confirm the overtime.

“Sorry,”said Halifax, “We need it confirmed in writing.” I pointed out there are six wage slips showing regular overtime which any child could add up and quantify into an annual amount. But no, it stills needs it in writing. Then I am informed if overtime is regular it only allows 60%. Having got over that hurdle I discover it then deducts one-twelfth of this amount for holidays. Am I going ga-ga again? Why doesn’t it reduce 60% to 55%?

And am I the only broker who goes onto the Halifax calculator and always gets a different figure?

Please Halifax, make our jobs easier. Remove the silly factor for children. Allow a set percentage for regular overtime. Don’t ask us for payslips if you are going to write to the employer anyway.

Our job is hard enough without all this unnecessary red tape.