Homebuy Direct HEARTBREAK

biggurs

Hi
I am at my wits end.. i really am!
In april applied for homebuy direct for a new build property which after many weeks of messing about by orbit eventually was accepted. Then the mortgage was accepted by RBS. Initiall homebuy application was joint name with my wife although she doesnt work but thats what i was told to do. The reservation form just had my name. Financial advisor said it has to be the same on both so had to re apply for mortgage. Following day got a text from RBS saying mortgage offer has expired. Rang financial advisor who said he had re applied and so should be ok and secure the original interest rate.
BUT THEN I WAS REJECTED BY RBS
They said there was a 'marker' next to my name which was missed the first time. I took out a loan from RBS 11 ELEVEN years ago and defaulted due to numerous problems in my life at that time, couldnt pay, but they never took me to court, just threaqtening letters and phonecalls etc etc but did not apply to the courts.

Anyway when i checked my credit report my score was maximum 999 and completely clean record. I have had numerous loans and credit cards in the past few years and no problems, good stable job etc etc.

So now RBS have said no.
My wife has gone away to see her mother with our daughter. HOW CAN I TELL HER?
I am a man, but i have not slept and cried all night!

I DONT REALL CARE ABOUT RBS but i do care for my wife and family and what was to be our dream home.
How can RBS reject me now? how dare they. My credit file is spotless. OK i understand I didnt pay them, but why did they not go to court and get court notice?

There is only one more lender and that is the halifax. (nationwide do it but they need a deposit, no problem, but according to my FI they undervalue new builds so wont lend the full amount)

WHAT I WANT TO KNOW IS WHAT IS THE LIKELY HOOD OF THIS 10 YR OLD PROBLEM WITH RBS BEING PICKED UP BY HALIFAX?
my credit score is maximum, clean record in the last 6yrs, stable employment, electrol register, no defaults... nothing except for RBS loan i took out in 1998!!!!

I cant sleep, I feel like applying direct to halifax for homebuy mortgage because my FI will do it tomorrow and i cant wait, but when halifax do credit check and then they do one again when FI applies then that can go against you apparently.

I just need some support because I'm more concerned about letting my wife down. I cant see why halifax will reject me if i have clean record, homebuy direct have done their checks and have accepted me (if you do have poor credit then homebuy direct dont accept you)

Shouold there be any reason halifax will be aware of this personal problem between me and RBS dating to 1998 and should there be any reason halifax will refuse me because of that problem.
Thankyou for reading and listening.
im heart broken i really am

housebuyer_abc

It sounds like this is a marker within RBS, I doubt other lenders could see it.

However as RBS have been burnt in the past they have their own 'do not lend' list, which your previous defaults seem to be on.

wynnvegas

Sorry to hear about the mess they've left you in. I wouldn't hold out too much hope of any other lender missing it I'm afraid as it's likely to be a marker that, now rediscovered, others will be privy to. You can only apply elsewhere and hope you get the first pass cursory check that RBS obviously did initially.

Best of luck and hope it goes through with the Halifax tomorrow!

Incidentally, keep your wife in the loop where at all possible. You'll need support through this process as well and you'll be stronger together.

Voyager2002

Since your default never led to court action, it will have dropped off your credit record after six years. Obviously RBS keep records of their own lending experiences for ever, but no other lender should be able to find out. So I think your chances with Halifax are good.

katelu

I think your chances with Halifax are pretty good. To boot they work very quickly and I have gone from nothing to a full mortgage agreement and survey done with results in 10days! I also had a record of another mortgage application (I had been going through the ownhome scheme before it ran out of cash) and they weren't worried about it. HTH's and good luck!

thriftymomma

Get onto the Halifax asap. Good luck!

biggurs

Thankyou for everyone who has posted such quickly. Believe me you dont realise how helpful you have been. I dont want to break my wifes' heart just yet so I will await until halifax have made a decision.

I agree with what everyone says. It is an internal 'marker' with RBS which does not show up on my credit file and hopefully wont show up on other lenders systems. My credit score with experian is 999 (the maximum) and record is squeeky clean, no defaults or late payments or anything. So logic and my head tell me it there is no reason why halifax will refuse me, credit file clean, good stable employment, electrol register, no missed payments, I successfully get loans from the bank, credit cards, mobile phone contracts, broadband contracts etc etc and based on this there should be no problem (just as RBS initially agreed to mortgage)

But i'm always worried about things and I wont sleep until I hear something from the halifax.

I just need people to tell me its gonna be ok. A problem shared is a problem halved.
I cant see any reason for halifax to say no. So fingers crossed. This feeling I'm feeling is awful. Its worse than when I've had a death in the family.
We have seen this house been built from the foundations up, we have selected our finishing touches, kitchen colour, units, tiles etc etc and for that to be taken away from my wife and child.......... i will personally hunt down that RBS chairman and give him a piece of my mind (to put it politely)
thanks again everyone

psoley

I think your chances with the Halifax would be much better. I got turned down by the Nationwide due to a default from 2 years ago, but the Halifax said yes.

Our advisor there was great and they were very very quick.

best of luck

sgh1976

RBS are a nightmare. They gave us a dip then rejected us on the hbd scheme. Halifax then gave us a dip and a full offer and it took them 4 days. Good luck with the Halifax

sgh1976

biggurs wrote: »

I feel like applying direct to halifax for homebuy mortgage because my FI will do it tomorrow and i cant wait, but when halifax do credit check and then they do one again when FI applies then that can go against you apparently.

I have posted in a few threads on here about my mortgage application and having a CCJ on my file that wasn't mine. It appears that after RBS gave us our D.I.P they then changed their minds based on that CCJ.

This was on a Wednesday evening when we found out. The next day, our IFA called back and gave us the rate for the halifax mortgage, a little higher than RBS but well within the budget. We gave him the green light to go ahead. Expecting another 2-3 weeks of waiting like we did with RBS.

He said he had done a worst case scenario on the Halifix calculator for us both and put that he expected us to get a "C" rating. When he got the result from that he then contacted Halifax, they ran the checks and said we had a "B" rating. They electronically found us (as our IFA put it) so that made the application easier apparantly. The following Monday evening we noticed out valuation fee had been taken, and the next morning we got a phone call to say it had been approved.

If your credit rating is as good as you say you will get an A or B rating. Which seems to make the application far easier and quicker. I think they do further checks if you come out with a C rating.

rinkydinkpanther

i will personally hunt down that RBS chairman and give him a piece of my mind (to put it politely)[/QUOTE]

Will you also give him back the money you borrowed and then didn't repay ?

I feel for you, the situation you're in, but did you seriously think a bank that you have essentially stolen money from previously is going to risk lending to you again, just because some time has passed ?