i dont know who to talk to about this problem

nathan_1986

Ive been having a problem getting a mortgage over the last few days, i have been refused a mortgage by Nationwide and i went to an independant mortgage advisor to apply. im desperate to buy the property i have seen for 80k and have a 15% deposit. im 23 living with parents and earn 22000 per year. I was advised to check my credit report with experian to check out what my score is like. ive noticed that my current account to which i have an agreed overdraft is not listed on my credit file which worrys me a little, i have 2 defaults on my account from 3 years ago, one for £200 and £300. I was stupid at the time and did not realise the adverse effect it would have on my score. since then i have not had any bad credit but have had a car loan which was payed off perfectly. I have contacted experian who say that the problem lies with natwest with regards to my info account not shown on experian. ive been passed from department to department today with no conclusion. Imfinding it hard over the phone to get anywhere with this but im working all week until saturday and if ive not sorted it by then il go to my local brach. A friend says he thinks brokers are better to deal with than independant advisors allthough i dont know the difference?? please help!!!

Regards Nathan

dunstonh

ive noticed that my current account to which i have an agreed overdraft is not listed on my credit file which worrys me a little

Many banks dont pass current account details on.

A friend says he thinks brokers are better to deal with than independant advisors allthough i dont know the difference??

IFAs are investment advisers and financial planners. Some do also do mortages but when they do, they do it with a mortgage adviser/broker hat on. Most IFAs employ or utilise mortgage advisers within their business (if they dont do it themselves). So, in reality there is no difference and your friend is a little confused there. That said, given the choice, I would prefer to use an independent mortgage adviser than an IFA purely on the basis that a mortgage adviser is the specialist in that area.

herbiesjp

The decline will not have anything to do with your current account not showing

It will have everything to do with the fact you have two defaults, and the lender you want to go with is Nationwide - very tight on the criteria front

You need a whole of market mortgage adviser who will be able to tell you if you can get a mortgage based on the fact you have the two defaults, and if so, which lenders.