Santander Default

blogdroed · 3 September 2013 at 5:07PM

Sorry if this is a silly question or one which has been answered elsewhere but this is only my second ever post!

According to my Equifax credit report I have a Default Account from Santander from August 2008 which was settled in November 2008.

The Default notice sits attached to my previous address from which I moved to my current address in November 2007 - 9 months prior to the default notice!

Santander say I didn't inform them of my move - to be honest I thought the account was closed as it was an old savings account which I rarely used.

Unfortunately it was a few pennies/pounds overdrawn and in the 9 months following my move, the account accrued charges to the tune of £106 - charges and an overdraft I was unaware of as the new occupants of my house didn't forward any mail.

As soon as I became aware of the problem I cleared the debt and closed the account, which is why it appears as settled.

At the time I didn't think about credit ratings and the like, but now, five years later I'm worried it will be a problem when trying to sort out a better mortgage deal as it still appears on my credit checks.

Everything else on my Credit Report is green (apart from the odd 2 or 1 from 2005) so is it really a problem? Is there anything I can do to get rid of it? Or is it a case of sitting tight until August 2014 when it should disappear from my records?

Thank you for any help/advice

Tixy · 3 September 2013 at 5:17PM

Probably not much you can do about it.

In terms of timescales for recording the default they are probably within what would be considered reasonable timing for an overdrawn account.

When are you hoping to look for a new mortgage deal? There may be some mortgage lenders who it won't cause too much of an issue with, being that it is over 5years old and for such a small amount.
Also if your existing mortgage lender has a better deal that the one you are on currently they are less likely to be concerned about it.

If you do struggle then yes August 14 it will come off (although equifax are slow to remove and it can take them an extra couple of weeks)

matttye · 3 September 2013 at 5:49PM

Why did you think the account was closed? If Santander told you it was closed, or if you had a document confirming closure, you may be able to get it removed. After all, why would you update the bank as to your new address if you have no active accounts with them.

blogdroed · 4 September 2013 at 6:09PM

I suppose "closed" is the wrong word, I just thought it was a dormant account. Funnily enough, the direct debit which took me into the red was a three-yearly fee from one of those Card Protection Services which I hadn't realised I'd signed up for.

Ironically enough I received a letter from them out of the blue last month offering me a refund for the full amount they'd taken out of my account!

Santander Default

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