Morgage Advice Urgently Needed

beecher

Wickedkitten wrote: »

It would however result in a lower credit score, One of our friends has actually been declined recently because he pays off his bill every month like a good boy and has a low score.

Mind I'm not saying in this case it's the sole reason it was declined but surely it wouldn't help, no?

I doubt it - I have always paid my credit card off in full but have an excellent credit score.

herbiesjp

Showing you can pay - can only help your cause

herbiesjp

carole1705 wrote: »

My daughter is having the same problem. She wanted a broadband dongle so approach carphone warehouse and they suggested the orange network, for some reason orange declined her. So she went to phones 4 u and got one on the 3 network. So far so good, a few days later a dongle arrived from orange (the one she had been declined for) and then 1 from 3. She rang Carphone warehouse and they tried to persue her to keep the orange dongle (offering her £50). She again rang Carphone warehose and eventually they sent her a special envelope for her to send the goods back, which she did. In the meantime a bill arrived from orange, after several phone calls and a reminder arriving from Orange, Carphone warehouse told her to pay the bill and they would refund her. My advise was not to pay anything to orange as she would be entering into a contract. Carephone warehouse eventually did send out a cheque to my daughter to cover oranges payment. They insisted the contact with orange was cancelled. She sent off a cheque and heard no more for 3 months. Then a debt collection agency letter arrived and my daughter rang and paid the amount by card the same day. She has subsequently checked her statements and the cheque she sent off has neva been presented for payment.

Now she wants a mortgage she has been refused because she has a late payment of 3 months or more on her credit file. It for the grand sum of £22. I have written a letter to orange but not had a reply as of yet. So she cant have a mortgage because a company blacklisted her for the own mistake and asking her to pay for something she had neva used. It is so annoying.

Put a notice of correction on the credit file explaining that this is in dispute, and that is it a service that you have never taken up.

She should be able to get a mortgage, as the sum of £22 is well the below the tolerance of a lot of lenders.

Having said that, it will also depend on the overall scenario as to whether or not she fits the lending criteria of the lenders in the current climate

carole1705

Good news after the letter sent to orange they have wiped it off her credit file. But unfortunately too late for her original mortgage application. She has now applied to a different lender, fingers crossed.

:beer:

Wickedkitten

Excellent news Carole

D_O_S101

Ok time for an update. We received the Credit File and have read through it. Firstly the good news,
1) The old morgage isnt listed anymore
2) There is no CCJ listed regarding the non payment of the council tax
3) There is a good status listed on an account she had with Next

Ok for the bad news now. We have 1 debt listed on the report. This debt is with Blackhorse LTD and is for £7,900. However heres the silver lining on it. Its a joint loan with her ex partner, however, its a loan which my partner knew nothing about and more importantly hadnt signed the credit agreement. We've contacted the loan company and they've asked us to fax through to them a copy of the letter we were going to send them plus a covering letter asking for them to send a letter confirming there is no liability on this loan and it is to be cleared from her credit file.

In the mean time we went back to the nationwide and spoke to them again. With this new evidence they have told us to appeal the original decision. There are a few hoops we have to jump through these are,
1) Provide 6 months worth of bank statements each
2) Provide our last 3 payslips and P60
3) Provide a letter confirming that the deposit I'm getting from my parents is a gift and is not a loan
4) A letter from blackhorse confirming that its not my partners loan and they will remove it from her credit file

Once we've submitted all of these things it should take about a day for them to come to a decision. We've faxed blackhorse today and asked them to fax a letter to the Nationwide stating that the loan is not my partners liability. So I'm keeping anything I can cross crossed that by the early part of next week we should have a decision one way or the other. If it goes against us fair enough but at least no one can say we havent tried hard.

Robert_Sterling_3

Good luck to you. :EasterBun

gizmo111

Good Luck - but dont expect black horse to comply easily.
Also you do not get CCJ's for non payment of council tax and it is not listed on yoru credit report.

D_O_S101

Does anyone have any direct phone numbers for ringing the CRA Department at Blackhorse. My partner tried ringing yesterday but the girl on reception said they didnt have any numbers listed for that department and all communications had to be through letters. She agreed to let us fax the infomation through which we've done yesterday. I've also faxed again this morning asking them to supply us with a letter today faxed to the woman at Nationwide, I've also requested a copy to be faxed to me at work. I've just been down to check and so far we've still not received any faxes.

dmcculloch

hi
i was a mortgage underwriter for 8 years for both high st lenders and sub-prime lender,
the underwriting of a mortgage application is all based on your income / ability to repay the monthly debt and your previous credit history, all lenders will take into account your last 6 years credit and how good/bad it is. high street lenders base lending on a scoting process and if you have any bad debt you get a lower score resulting ina failed application,
you can however apply to sub-prime lenders who charge a bit higher interest but are more lenient and flexible as they dont use scoting method but their own underwriting policy, usually they will offer lots of different rates based on how bad your credit is
ie if you have 1 ccj upto value of 250 they will charge say 5% but if you have a ccj upto value of 500 they charge 5.5% and it goes up in a scale and they will consider ccjs upto tens of thousands or even unlimited bad debt the interest charge reflects how bad your debt is.they also consider people who have had defaults , unpaid credit cards, self employed etc. the only problem is due to the current "credit crunch" and economy a lot of these lenders went bust within the last 12 months or have temporarly ceased trading until things pick up,
would be worth going to a mortgage broker who deals with all lenders or have a look online but most subprime lenders only deal with mortgage brokers and not durect with the customer as they dont have fully certified mortgage advisor employed to give you advise.
although you will pay a higher rate for 2 years by they time your credit will be much beter as the bad debt your partner was involved in a few years ago will have dropped off and you can then go to a high street lender again.... hope this helps but unless you can either afford the mortgage in your name only as you have good credit you will have to think of a subprime