Mortgage Application - credit scoring

purpleems

Afternoon everyone

Was wondering if someone could offer advice? I think I have a brief understanding of how your credit report affects applications but I have a query.

My husband and I applied for a mortgage a couple of weeks ago which was referred to their head office as something had come up on the credit scoring. My husband and I both check our credit reports regularly and there was nothing which we could see that would have caused this. However the mortgage company came back to us within 48 hours to say it had been accepted (although they could not say what the problem was).

Anyway we went in today to sign paperwork (after a delay due to unforeseen circumstances) only to find that we had been declined again. There is nothing on our credit reports (have checked again) to indicate this. The only clue they gave us was that it was possibly the address (we are currently in rented accommodation and know that the last tenant left a lot of debts). However, I thought that addresses were no longer 'blacklisted', and it was people that issues were registered against. Am I wrong?

Can anyone shed any light?

Sorry for the long post but am very confused

Cheers in advance for any advice you may be able to offer

Em x

ziknik

I can’t answer your questions, but I do think you’ve been saved. Maybe you have a guardian angel (?).

Sit tight in your rented place for a while and let the crash work through a bit more.

Adam22

Hi

A similar thing happened to me not long ago, my credit report is fine but they could not explain the fault. I was also told it could be where im living but surely this cant go against you can it?

Someone elses debt should not be held against you. My mortgage advisor even checked part of my credit file on their system and said it was fine.

Feels like your going in circles at times!

purpleems

Thanks for the reply. Yes, it is a little confusing and you do wonder if you are ever going to get any answers!

Cheers for the feedback

happybroker

Whilst your bank don't have to tell you what the information was that led to the decline they do have to tell you the source of such information and I would persue this. Do it in writing also, keeping copies of the letters so you can evidence your efforts to clear your names.

purpleems

Thanks for that, HappyBroker, that's really useful information.

Will fire off a letter tomorrow to see if they can shed any light

money_maker_3

Just as a thought, but have you checked your credit file with experian, equifax and call credit or just one of them, as each one will show slightly different depending on which one is used by the companies involved.

Conrad

It wont be anything to do with previous tenants - thats an urban myth and would go comlpetely against data protection rules and Human rights law.

I'm guessing here that they have picked up whats known as a 'linked address', somewhere in your recent past that you have had a connection with.

For example either of you might have stayed at a temporary adress for a few months and left a financial footprint there.

Whenever this happens clients play innocent, but then gradualy they recall something like that store card they took out whilst at a temporary address or the utility bill they forgot to pay at the temporary address.

Best of luck, and think very carefuly about any other linked address's where an old debt may be lurking.

purpleems

Cheers Conrad - but if it was an old debt would it not be registered on our credit reports? I've checked Experian, Callcredit and Equifax and can find nothing on there.

I'm trying to think back over the addresses we have lived at and I honestly, hand on heart, can't think of anything outstanding - anytime a debt has been paid I make sure I cancel the account and check my report regularly to confirm that it has been done?

If it is not showing on any of the credit reports from each credit reference agency is there any way of finding out what it is?

Cheers

Gloster_Advise

Purpleems

You should be OK by the sounds of things. I have known clients to have a very "squeaky clean" credit history but a poor credit score. Having a good profile doesn't always mean you'll get a mortgage with every lender. Scoring takes into account many elements such as age, if your on the voters roll, time in job, dependants etc.

purpleems

Thanks for the advice - we have registered on the electoral roll but this hasn't updated on the credit reports yet so I guess it could be something as simple as this?

Really appreciate all the knowledge and advice that people have shared

Thanks