Will they reject my mortgage application because I don’t have a credit history?

happybroker

HSBC don't share info and there are others that take this stance also. It's their choice and unfortunately no amount of complaining will change that for you.

Use that time instead to find an account that will share your information with Experian/ Equifax. Mobile companies and most lenders do but as I say not all I'm afraid.

heg9

just found out why the accounts are not there. They have changes the law not long ago. The lenders dont need to provide the info to credit reference companies if the accouts was opened 10 years ago.

My hsbc account was opened more than 10 years ago. So hsbc can refuse to share my information with Experian etc. Its totally lawful.

I guess I cant do anything apart for 'begging' them to share my info.

By the way, I have one mobile contract on the file as well. But that is all i got

heg9

Credit reference companies won't accept the proof of residency. They only look at the electrol roll. Also experian does updates from Jan to Sep. So if you miss the update in Sept, you need wait until Dec.

However, Experian has adviced me to bring the letter confirming that I will be on the electrol roll in Dec to the bank.

For those who cant be put on electrol roll. You can put a note on your file like FraudBuster mentioned. So the banks will take that into account.

hells_2

You could always try applying for a mortgage deal with a lender that doesn't run a credit check, that assesses applications on an individual basis?

I took out my first mortgage with Bank of Scotland (no credit scoring) and secondly, when I switched with Leeds BS there was no credit scoring.

Could be worth a try.

heg9

happybroker wrote: »

HSBC don't share info and there are others that take this stance also. It's their choice and unfortunately no amount of complaining will change that for you.

Use that time instead to find an account that will share your information with Experian/ Equifax. Mobile companies and most lenders do but as I say not all I'm afraid.

Just called HSBC. They have an agreement form for me to sign before they can share my inforamtion with the credit agencies. The form will arrive next week. Finger cross that they will put me on straight away.

heg9

hells wrote: »

You could always try applying for a mortgage deal with a lender that doesn't run a credit check, that assesses applications on an individual basis?

I took out my first mortgage with Bank of Scotland (no credit scoring) and secondly, when I switched with Leeds BS there was no credit scoring.

Could be worth a try.

Thanks Hells. I will definitely try them out. Its unusual not to run a credit check to get mortgage though..well, dont really understand how banks work ....

Innocent_Guy

happybroker wrote: »

HSBC don't share info and there are others that take this stance also. It's their choice and unfortunately no amount of complaining will change that for you.

Use that time instead to find an account that will share your information with Experian/ Equifax. Mobile companies and most lenders do but as I say not all I'm afraid.

HSBC do share info!

My accounts show!

Are you telling me that if you defaulted on one of their products they wouldn't report your info to the CRA?

:rotfl::rotfl::rotfl::rotfl::rotfl:

chambta

hells wrote: »

You could always try applying for a mortgage deal with a lender that doesn't run a credit check, that assesses applications on an individual basis?

I took out my first mortgage with Bank of Scotland (no credit scoring) and secondly, when I switched with Leeds BS there was no credit scoring.

Could be worth a try.

A lender that doesn't run a credit check in 2009?

Not sure how long ago you took your mortgages out but it must be some time ago. That, or you're mistaken.

heg9

Innocent_Guy wrote: »

HSBC do share info!

My accounts show!

Are you telling me that if you defaulted on one of their products they wouldn't report your info to the CRA?

:rotfl::rotfl::rotfl::rotfl::rotfl:

no, they wont show if you keep up your payment on time and your account is over 6 years old. That is what happened to me. Because I have been such a 'good' customer, my account disappeared.

For old accounts (opened ten years ago), unless you got a default from them,you wont find your account on credit report. In that case, you have to sign an agreement with them so they will share your account with the credit reference companies. That what I was told by HSBC and Experian after ten phone calls. If your account was opened less than 6 years ago, they need share the info!