Refused - Excellent / Good credit rating

joeyv

Who do I go to?

I have an existing mortgage but today my lender refused me and my husband a new one on poor credit rating. We both had an immediate panic and checked experian - my rating is excellent (best you can get) and his is a few point below, just dropping into the good category.

Three months ago he was a couple of weeks late with one payment.

Will anyone still lend to us? Even though my salary is high enough to cover the mortgage and our LTV ratio is good, they then told me they couldnt put it to just me due to the financial link between us.

Where are these people that they are apparantely increasing mortgage lending to???? They told me our credit rating was rated as the worst it could be.

laineymoo

The late payment will appear on your credit history, I would doubt very much if its just 1 missed payment if this would effect your credit history that bad esp if his credit score is sitting in the good category and yours the excellent.

I would perhaps speak to another mortgage advisor or your bank

Something

joeyv

Thanks for reply, yes its just one late payment - thats all thats showing on his report - his score is 948 and mine 999!!!

Lender is linked to our bank - i am mystified!!

joeyv

Unless something wouldnt show on the credit report? We asked about the same mortgage deal about the same time he missed the payment and were given a resounding yes, thats fine!!

danielanthony

Check Equifax AND Call Credit, there might be something on the other CRA's which isn't on Experian....

Could also be outstanding loans or credit card balances.

joeyv

Thanks, will do - have always just checked experian so will have a look at the others.

joeyv

Equifax again the same scores.... should i just try a different lender?

Mrs_Bumble

It won't be about the score there must be something showing on the payments, what credit is showing on both of your credit files? Are all the payments 0? Apart from the one missed that you know of that will show as a 1?

joeyv

All my payments show as a 0.

My husband just has the one payment that shows as a 1.

Execept for one for me which shows as a 1 back in 2005 - before we got the mortgage with this lender.

Mrs_Bumble

Is the missed payment a mortgage?

Are you looking at a fresh copy of your credit report, after the search would have been done by the lender? Can you see the search on the report?

Who is the lender?

joeyv

No it was a small credit card payment of less than £50.

We have both ran fresh credit reports today, and i have checked Experian and Equifax.

Lender is C&G. We also bank with Lloyds. We do have credit cards but all up to date and well within their limits. I balance transfered a card earlier this year and was given a crazy limit of £14,000 by Barclaycard - I dont need even half of this amount, and they are the only people who have credit checked me this year.

No searches for my lender show up - even thought they advised us a few months ago that we were all checked and ok to borrow what we asked for? But this is not on there. neither is todays search.

Many thanks for everyones advice!