Obtaining a mortgage with some credit / identity issues

gogsboy

First of all I have no credit issues, have never missed payments and not had much payments as such bar current mortgage (in my name) which has always been paid..and some more.

The problem is my partner and I applied for another mortgage, joint obviously and the underwriters have said no.

The reasons they cant divuldge but they are advising my partner to obtain her credit report, now this is something she done probably about 6 years ago, a good while ago anyway and the company Experian seemed to be as much use as a chocolate fireguard and they were not very contactable, perhaps times have changed?

She got her report back then and it showed up stuff that was in her name but not hers and at an address where she has never stayed.

She told Experian this but the attitude was so what and from the information given there was not enough to track down companies or whatever the route is.

So if you find there is something up with your report what is the fix if you like, she will have some nasties on there I'd imagine due to being in a previous relationship where the other person in question was not doing what he should have done with money regarding mortgage payments and other things but the slate is wiped clean on that front, house was sold and mortgage fully paid off.

Other things are likely to be missed credit card payments, the late charge of course, not sure if that's an issue, it hasn't happend for a while since I have educated her.

Another more recent issue was whilst I was checking her statements, I found a company had been taking payment from the account and she knew nothing about it, so got that sorted out and even more recent as in the last couple of months or so there was a direct debit had been set up by link financial, debt recovery I believe, again she knew nothing of this and the money was put back in by the bank.

Any help would be appreciated and of course we would now look to me getting a second mortgage in my name but as we have opened a joint account recently I guess that makes me financially linked and would tag me with the issues or is that not the case?

Thanks

~Beanie~

I think the first thing to do would be to actually get an up to date copy of your partners credit file, from all 3 agencies not just Experian.

simpywimpy

Have you thought maybe she knows about some of these items but perhaps was too embarrassed to admit it? A debt company can't have just plucked her bank details from thin air.

gogsboy

simpywimpy wrote: »

Have you thought maybe she knows about some of these items but perhaps was too embarrassed to admit it? A debt company can't have just plucked her bank details from thin air.

I was waiting for that one, I know all whats gone on etc and it was myself who instructed solicitors to get it all sorted, sacked one if you like for not getting the job done, so I know what is owe and not owed.

Direct debits can be set up incorrectly according to the bank, apparently is was not so easy before but now it is.

gogsboy

~Beanie~ wrote: »

I think the first thing to do would be to actually get an up to date copy of your partners credit file, from all 3 agencies not just Experian.

How do you cancel from Experian though, it would appear you need to call the 0800 number and select option 4, well I have been testing this 0800 over the past few days and there is no option 4 or human option so it would appear they are just as incompetent as they were all that years ago.

And if we get the reports are these companies meant to assist in getting to the bottom of why you may have things on the report that are not linked to you, ie addresses you have never stayed at?

Have seen about a £2 report rather than the free trial that is not so easy to cancel but does this go for all the companies or just experian.

And should I be concerned I am not financially linked so to speak?

Robert_Sterling_3

gogsboy wrote: »

The problem is my partner and I applied for another mortgage, joint obviously and the underwriters have said no.

They are advising my partner to obtain her credit report. now this is something she done probably about 6 years ago, a good while ago anyway

[ In these circumstances let us assume it is less than six years since you wiped the slate clean as if it was less than six years the Credit Check Companies will not have wiped your partners slate clean yet. So get a £2 report and maybe get all three reports.]

and the company Experian seemed to be as much use as a chocolate fireguard and they were not very contactable, perhaps times have changed?

[ You are not their client. The lender is their client. Their duty to your partner is to send her a copy of her report for £2 and then to correct any proven inaccuracies on the report. ]

She got her report back then and it showed up stuff that was in her name but not hers and at an address where she has never stayed.

[ Your partner can ask for the inaccuracies to be erased from the report. ]

She told Experian this but the attitude was so what and from the information given there was not enough to track down companies or whatever the route is.
So if you find there is something up with your report what is the fix if you like

[I cannot explain this ]

She will have some nasties on there I'd imagine due to being in a previous relationship where the other person in question was not doing what he should have done with money regarding mortgage payments and other things but the slate is wiped clean on that front, house was sold and mortgage fully paid off.

[ My guess is that the slate was not wiped clean. Details of late payments and missed payments etc may remain.
Perhaps you should ask your partner to show you the report so that you do not have to imagine what is on it. ]

Other things are likely to be missed credit card payments, the late charge of course, not sure if that's an issue, it hasn't happend for a while since I have educated her.

[ It will matter. ]

Another more recent issue was whilst I was checking her statements, I found a company had been taking payment from the account and she knew nothing about it, so got that sorted out and even more recent as in the last couple of months or so there was a direct debit had been set up by link financial, debt recovery I believe, again she knew nothing of this and the money was put back in by the bank.

[ Any money taken by Direct Debit is guaranteed by the bank to be returned if the DD was not authorised by the customer concerned i.e. Your partner ]


Any help would be appreciated and of course we would now look to me getting a second mortgage in my name but as we have opened a joint account recently I guess that makes me financially linked and would tag me with the issues or is that not the case?

[ That is the case ]

Conrad

You dont say what LTV you are considering? Is it 90%, 70%

All in all from what you say, lenders will deem her high risk so a mortgage won't be easy even with a large deposit.

There are a few sub prime lenders left;

Beacon
Melton Mowbray (incredibly fussy - she will have to prove she is very stable and secure - they dont like address or job hoppers)

Platform
First National

Rates today from 6.6%, up to around 10%.
Minimum deposit will be 20% based on the picture you have given

The key to imporve credit score is STABILITY, STABILITY, STABILITY. Lenders like people who are like them. If you like, nerdy careful types that settle down with stable partners, vote, pay everything on the nose, treble check everything is paid and then check again the next day, never rely on verbal assurances - always want Banks to confirm in writing that payments have been made, in otherwords a non chaotic existence.

Good luck

freeasabird

Link Financial have come up on the website before:

http://forums.moneysavingexpert.com/showthread.html?t=1028779

Your partner may have an outstanding debt, for example for a student loan that may have been passed to them.

This is a difficult thing to tell you but is it possilble that you don't know everything about your partner or the financial problems from her previous relationship? Your partner doesn't sound as if she has always been financial wise. Get all three credit reports and have a heart to heart with your partner.

gogsboy

Conrad wrote: »

You dont say what LTV you are considering? Is it 90%, 70%

All in all from what you say, lenders will deem her high risk so a mortgage won't be easy even with a large deposit.

There are a few sub prime lenders left;

Beacon
Melton Mowbray (incredibly fussy - she will have to prove she is very stable and secure - they dont like address or job hoppers)

Platform
First National

Rates today from 6.6%, up to around 10%.
Minimum deposit will be 20% based on the picture you have given

The key to imporve credit score is STABILITY, STABILITY, STABILITY. Lenders like people who are like them. If you like, nerdy careful types that settle down with stable partners, vote, pay everything on the nose, treble check everything is paid and then check again the next day, never rely on verbal assurances - always want Banks to confirm in writing that payments have been made, in otherwords a non chaotic existence.

Good luck

I'm not fussed about the mortgage now it's been refused, I want to safeguard my own rating more than anything as I suggested from the start it would be better to forget about the joint account / joint mortgage based on credit issues as I would have got the mortgage on my own.....but...well you know how it is!

How do I break the so called financial link, close down the account immediately or is the link in the mortgage application?

I'm not a nerd but I vote on occasions, pay everything on the nose probably, I dont see that as a bad thing, I hate being in debt therefore I pretty much pay for stuff upfront...obviously with a house it not that simple.

I have never requested a bank write anything to me, get enough junk through the door so certainlly don't want more.

gogsboy

freeasabird wrote: »

Link Financial have come up on the website before:

http://forums.moneysavingexpert.com/showthread.html?t=1028779

Your partner may have an outstanding debt, for example for a student loan that may have been passed to them.

This is a difficult thing to tell you but is it possilble that you don't know everything about your partner or the financial problems from her previous relationship? Your partner doesn't sound as if she has always been financial wise. Get all three credit reports and have a heart to heart with your partner.

Seriously I am not going to paint the whole picture here as that's not 100% essential, no heart to heart is needed so scrap that school of thought.

She does have an outstanding debt, one student loan which is not being paid off in one go as it does not make sense to, however it has been paid all the time on the button.

I know the problems from the past like I said, it was me who ended up getting it all kicked into touch, I was the one who got rid of the solicitor who was working in slow motion and doing very little before getting one very on the ball female solicitor who done the business.

I know all the history and I see all the statements, I know whats going out etc, that's why it's me who picks up on money going out of accounts that is not accounted for and that has only happened twice, one was a daft sign up thing that lots of people fell for, not a credit issue, the other being this recent link financial fiasco..she seemed to think from google it was a debt agency but I'm not so sure, like I said that was 100% mistake/fraud and rectified by the bank in seconds!

gogsboy

Robert_Sterling wrote: »

gogsboy wrote: »

The problem is my partner and I applied for another mortgage, joint obviously and the underwriters have said no.

They are advising my partner to obtain her credit report. now this is something she done probably about 6 years ago, a good while ago anyway

[ In these circumstances let us assume it is less than six years since you wiped the slate clean as if it was less than six years the Credit Check Companies will not have wiped your partners slate clean yet. So get a £2 report and maybe get all three reports.]

and the company Experian seemed to be as much use as a chocolate fireguard and they were not very contactable, perhaps times have changed?

[ You are not their client. The lender is their client. Their duty to your partner is to send her a copy of her report for £2 and then to correct any proven inaccuracies on the report. ]

She got her report back then and it showed up stuff that was in her name but not hers and at an address where she has never stayed.

[ Your partner can ask for the inaccuracies to be erased from the report. ]

She told Experian this but the attitude was so what and from the information given there was not enough to track down companies or whatever the route is.
So if you find there is something up with your report what is the fix if you like

[I cannot explain this ]

She will have some nasties on there I'd imagine due to being in a previous relationship where the other person in question was not doing what he should have done with money regarding mortgage payments and other things but the slate is wiped clean on that front, house was sold and mortgage fully paid off.

[ My guess is that the slate was not wiped clean. Details of late payments and missed payments etc may remain.
Perhaps you should ask your partner to show you the report so that you do not have to imagine what is on it. ]

Other things are likely to be missed credit card payments, the late charge of course, not sure if that's an issue, it hasn't happend for a while since I have educated her.

[ It will matter. ]

Another more recent issue was whilst I was checking her statements, I found a company had been taking payment from the account and she knew nothing about it, so got that sorted out and even more recent as in the last couple of months or so there was a direct debit had been set up by link financial, debt recovery I believe, again she knew nothing of this and the money was put back in by the bank.

[ Any money taken by Direct Debit is guaranteed by the bank to be returned if the DD was not authorised by the customer concerned i.e. Your partner ]


Any help would be appreciated and of course we would now look to me getting a second mortgage in my name but as we have opened a joint account recently I guess that makes me financially linked and would tag me with the issues or is that not the case?

[ That is the case ]

Have requested the Equifax one that seemed to be painless, and that is what the underwriters were looking at.

Exactly on Experian their duty is to be contactable as per website on the phone number provided and like you said correct accuracies, I know they were not interested back then, like I said there was an address on their that she had never lived at and that I do no and Experian were not bothered or interested, she could have proved this to them if they were willing to listen and correct.