mortgage company using old credit report

duarab

Ok i bought a house last week so went to see about porting my mortgage, filled all the info in and application was rejected, i checked credit file and seen i had a default and missed payment which was not my fault, anyway on thursday i phoned the company to blame and they agreed to remove as it was a mistake, today my credit report was clear on both experian and equifax, my score on experian was up from 616 to 958. My mortgage broker pleaded with the mortgage company to check application again so they did, rejected again, broker then asked why and they said i had a default and missed payment, my broker new this to be false so complained and it turns out the credit report the mortgage company have was for a date in january, after some very strong words they have agreed to look at my copy of the credit report and requested the letter from the company which made the mistake stating they had removed the wrong info.This was submitted today but my broker does not hold out much hope as the mortgage company in question were very unhelpful and have a bad reputation. My question really is how often do these companys download the credit report, is it once a month? i could move mortgage company but i would be worried they have old credit report too. Also how can i have access to an upto date report but they cant?

luckyfool

Their system will automatically be using the older report that they had run earlier, there will be a cutoff date after which it would update the report but there is obviously a safeguard in place to avoid too many unnecessary credit checks against people.

A new lender will get a new updated credit report so there should be no issues with an "old" report in that scenario. Do check that your report is clear with all 3 agencies though.

duarab

Hi, thanks for your reply, thats good news, i am clear on equifax and experian, i would really like to stay ware i am as i would have a £3000 fee to pay to leave, the company abbey/santander are very unhelpful, surely it was only a case of them requesting a brand new report. There report is old and they keep saying to my broker that i have a default but she has argued thats not the case as she has my updated credit files which are clear, i think a score of 958 now is pretty good, if they dont look at this or request a new report she thinks i should go to the fsa.

duarab

Hi, just relised that my first application was the 2nd feburary but when my adviser spoke to the mortgage company the credit report they were using was dated sometime in january,how can this be?