Mortgage Help

PoppyTat

Looking for some help on a couple of things about credit history ahead of a mortgage app.

We've got AIP's from three lenders (soft footprints only!) but after reading these forums I've realised these only credit score and won't look at my linked addresses.

Got my credit files on experian and equifax ahead of applying for a mortgage. Discovered some issues at a previous address of mine. One is a default of £29 for O2 from July 2005. Didn't know about this so called O2 a couple of weeks ago a to cut a long story short because there was some uncertainty I had been notified they agreed to remove the default from my file. No removal as yet though.

The main problem is with another credit card account which was settled in 2005 but appears on my Equifax file. These are showing payment history from 2002 - 2005, at which time I was behind in my payments, in some cases these are showing a status 6.

Does anyone know whether:

A) equifax and the lender should still be showing this data, given that it's over 6 years old and is not down as defaulted? My experian file only shows six months payment history for this account and these are shown as up to date.
Will any lenders consider me with this on my file? We have a 25% LTV and we have enough income to meet lending criteria etc.
C) Are there any lenders who just use experian for their linked address searches at full app stage?

Any help would be really appreciated!

Experian_company_representative

PoppyTat

Any credit checks/scoring should take account of previous addresses going back several years, including those carried out for mortgage Agreements In Principle.

Some general points:

- AIPs are credit applications not price quotes so these searches will be seen by other lenders and if you collect lots they could affect future scores. Why would you need three AIPs?
- Settled accounts are kept on credit reports for six years from the settlement date and each one can carry a three-year previous payment history. Ths is just how the system works. However,...
- Lenders tend to focus their scoring on your most recent behaviour, so I actually wouldn't worry too much about late payments that were registered five or more years ago.

James Jones
Experian

luckyfool

JamesJones wrote: »

- AIPs are credit applications not price quotes so these searches will be seen by other lenders and if you collect lots they could affect future scores. Why would you need three AIPs?

AIP's can take the form of full credit searches, or "quotation searches" which leave a soft footprint. A soft footprint is visible on the credit file to the applicant, but not to other credit providers and hence should have no impact on their credit score.

As someone who seems to be claiming to work for Experian I would have thought you should know this? If this isn't the case you should get onto Halifax, Skipton and various other lenders who claim that their agreements in principle are soft footprints and do not impact on peoples credit history.