CIFAS warning when applying for mortgage

harding1985

Hello All,

Me and my partner applied for a mortgage with the nationwide on Wednesday but the decision got refered because of a CIFAS on one of our credit ratings. Now i'm quite worried we are going to get rejected because of this.... I've checked my credit rating as I have 0 CIFAS warnings so this must be on the partners, we have £0 debt and have never missed any payment of debt in the past.

What are the chances my mortgage is going to get rejected?

The Mortgage adviser at NW said if it did get rejected she will refer it to head office.

We are quite worried because of house purchase is hinging on this :mad:

Lee

VIGILANT22

You should obtain a copy of your credit file to identify the CIFAS

harding1985

Hi, my partner has requested a Credit Report, but have to call Equifax tomorrow to confirm details etc. Should find out if NW have accepted our application too

harding1985

CEFAS on both credit ratings are clear, we have none, not sure how this has been flagged? :mad:

brians_daughter

CIFAS entries can be hidden from you on your file. I only discovered this recently.

I do have some info on it but its on my home PC. When i get back i will post a link.

You should SAR CIFAS

http://www.cifas.org.uk/default.asp?edit_id=692-59

Also see http://forums.moneysavingexpert.com/showthread.html?p=29493087

post 1174 (i think!)

dasilva_2

brians_daughter wrote: »

CIFAS entries can be hidden from you on your file. I only discovered this recently.

I do have some info on it but its on my home PC. When i get back i will post a link.

You should SAR CIFAS

http://www.cifas.org.uk/default.asp?edit_id=692-59

Also see http://forums.moneysavingexpert.com/showthread.html?p=29493087

post 1174 (i think!)

Quite agree, but it will cost £10 each. Is there any right of redress if the information is found to be incorrect.(ie do you get the fee back)

brians_daughter

dasilva wrote: »

Quite agree, but it will cost £10 each. Is there any right of redress if the information is found to be incorrect.(ie do you get the fee back)

I imagine not - would the bank concerned could divulge where the CIFAS has originated from. OP have you asked ? The SAR can take a while to come back, so may delay your application

In 2009 things changed and we are only entitled to see 2 types of warnings.. cat 0 and cat 2 (i think off top of my head) so you would not be aware of other enteries except for situations like this where it causes issues. OP i hope you can get it sorted asap

harding1985

Still waiting for a reply from Nationwide so no idea if the mortgage has been accepted or rejected yet, if it does get rejected there goes our dream house

brians_daughter

A lender should not reject you just because of the CIFAS warning. The warning means that the lender should look at the application in more detail - probably explains the wait.

In reality CIFAS can mean rejection - but it isnt meant to IYKWIM?
I hope it all turns out ok, it may not be the end to your dream home - a whole of market martgage broker may be able to assist further if you get rejected



Is my application for a service, product or credit automatically refused because I have a CIFAS warning on my file?

No CIFAS member organisation that receives a CIFAS warning from the system when checking your application or account is allowed to automatically refuse to supply the facility, product or service to you because of the warning. What they should do is make further enquiries to confirm your personal identification details before making a decision. If fraud is identified, they will not normally process an application further or continue providing a service.
However, there are occasions when, even though a CIFAS warning is present and your personal identification details have been properly confirmed, your application will not be approved. This is because your application is still subject to the member's standard checks and lending policies - criteria which you may not meet.
You may ask the organisation why they have declined your application or closed your account / facility. The member will normally be able to tell you whether the decision was due to a credit score, data recorded at a credit reference agency or their own specific policies. They should advise you which credit reference and fraud prevention agencies they used when assessing your application.

Conrad

These flags can normaly be worked around. Often the warning results from a third party attempting to use your accounts fraudulently.

If they reject you, tyr a small Building Society as the staff tend to be very much 'closer' to thier clients and as such can take a common sense approach rather than a corporate culture 'computer says no' methodology.

harding1985

Thanks all, spoke to NW they are still investigating there end, nearly a week now. Told me to call back tomorrow or Wednesday.

Still going to contact CIFAS directly