Urgent advice re refused mortgage application

LH79_2

Just had a mortgage application refused. Both of us are in well paying jobs, and have never had any finacial problems (tho I think boyf has forgotten to pay credit card occasionally). Financial advisor has recommended we get one of those credit checks that you pay for, as this should tell us the problem. What do you think? Worth doing? He also said it may be to do with available credit limits (I have several cards as am a rate tart - not closed them, so available credit is high, although actual balances are low). Finally... had a prob with our previous house whereby people tried to fraudulently register at our property. They never got on the electoral roll, but did manage to get a phone line reconnected, and also get mail redirected. I doubt they managed to apply for credit as not on electoral roll. Any help gratefully recd - am shocked application was rejected, and don't want to lose house we're trying to buy. Thanks in advance........

file_wizzard

Try https://www.creditexpert.co.uk you can get a 1 month free trial and this should give you an idea of what is registered in your name at present.

Also if you say you were a “rate tart” did you close all of these account when unused?, or do you have a number of “dormant” account with no current balance?, this could be one reason however until you get a copy of your file it could be anything !

LH79_2

thanks for your advice, will check that out. Unfortunately, I do have a number of dormant cards. To be honest, didn't realise it would be a problem - will sort out closing them asap!

*Sparkle*_3

Hi

I would definately get a copy of your credit file and your partners, i would want to know straight away. You can get copies from equifax and view them online straight away.
It is recommended that you check your files regularly to avoid things like fraud etc.

flossy_splodge

No offence but I assume you have done the obvious and presented yourselves in person to the financial body you applied to and asked them why they refused? Sure you have but just wondered if there was any clue in their answer?

Doozergirl

My aunt was refused her mortgage - when she checked, the new tennant at her previous address had been applying for credit all over the place in her name. She'd made guesses at middle name and birthday and had actually managed to get 2 store cards, and not pay, of course. It took a lot of tears, foot stamping and faxes but her credit record was rectified within 24 hours.

If you say that similar has happened to you, it may well be that.

LouLouHelen

My friend who found herself in a similar position and the financial adviser asked the lender what type of problem made them decline the application. I know due to Data Protection they can't tell him exactly but they will be able to say if it is credit, too many addresses in last 3 years, non dicslosure of a credit commitment or something like that.

But I do agree with all of the others getting a copy of your credit report is quite simple and it does give you the knowledge of seeing what the lender will see about your credit history.

Best of luck!