turned down for mortgage, current account not on credit file?

nathan_1986

Help needed please folks, ive been turned down for a mortgage today, the mortgage advisor was surprised to find out id been turned down as im looking at a property for £80,000, i have a 15% deposit so need to borrow £68000. i have an income of £22000, i have missed the odd payment so i am no saint. My advisor told me to check out my credit report to see if there was any incorrect info on there, now i have two current account, the first with natwest which ive had around 8 years and have an agreed overdraft which iregularly use, the second isa relatively new account with barclays whichi have been using to get my deposit together, the is no borrowing involved with the barclays account, I checked my credit fileto see that the barclays account is there, but there is no trace whatsoever of my natwest account? this is the account which my salary is payed into each month? im starting to think that if i cant see it then neither can lenders? so they cant see any proofof income?

Please help!!!!!

Nathan

herbiesjp

The fact your Barclays account is not showing would not be the reason for a decline.

They would see proof of income from either payslips, P60, or hard copies of bank statements

It is more likely the missed payments are causing you the problems - who have you applied to for the mortgage?

nathan_1986

The Barclays account is the one that does show up, its my natwest one which my salary goes into that isnt showing? they applied with natwest and with nationwide. the worry was that they could not see my earnings or infact the good borrowing record i have with my natwest account. its the first time ive applied for a mortgage so i am unsure if how things work, so my credit report shouldnt show my income anyhow? it says i have £0 worth or credit account which is incorrect as i have an overdraft with natwest.

thanks for your reply and patience explaining this to me

Nathan

herbiesjp

Sorry got the accounts the wrong way round

Your credit file does not show your income

Nationwide have always been tight on criteria and so with missed payments you would always be struggling, more so in the current climate.

You may want to get a second opinion from another broker before applying anywhere else as all these applications could be doing your credit file more harm.

nathan_1986

ok i see, well i will take your advice about speaking to a broker and will update the thread hopefully tommorow to get some advice about what they suggest. thank you very much for your help. very kind

Regards Nathan

Robert_Sterling_3

You said you have "missed the odd payment".
How many odd payments have you missed and when and did you actually pay them later?