Mortgage Lenders that only use Experian

heple

Hi,

Are there any mortgage lenders that ONLY use Experian?

Thanks

poppy10_2

No .

Wh05apk

Why? are you looking to submit a fraudulent application (by not declaring credit issues) as it only shows up on equifax?

heple

No, I applied for a re-mortgage with first direct who use both Experian and Equifax. My partner has a CCJ which i declared but they declined to offer a mortgage due to the fact that Equifax came back with a bad score for the application. Experian did not do this so they advised looking for a mortgage lender that did not use Equifax (Not sure the guy i was speaking to knew an awful lot - He didnt fill me with confidence)

So i did my own research and found very few lenders that do not use both, hence the question.....

However from my research i have found lenders that will take into account my partners CCJ more favourably so i am looking into their products.

sherrybaby

We've just been approved by Nationwide, their search only shows on my Experian file, not my Equifax file. However I'm not sure if this confirms that they only use Experian.

spadoosh

i tihnk halifax use experian only, not sure though

efunc

the credit score is irrelevant. the lenders will utilise their own analysis based on available information. So I wouldn't worry what credit referral agency is used.

fishty

Hi there,

I'm in the same boat and as far as I can work out Nationwide do only use experian but am yet to phone them to confirm. I am waiting for a previous loan to show settled (any day now) then I will be applying for a loan first then move my mortgage to them in 6 months when I'm out of my current fixed rate (depending on what happens in the next few months with the rates).

The reason I have difficulty with Equifax is that they hold payment history going back more than 36 months which can seriously impact your credit rating - especially if you have any "arrangement to pay" inputs on your accounts as I have. On MY Equifax file it shows two months in 2007 as "AP" and since then all green and up to date ~ quite annoying as it is not a default and shows that measures were taken to get the account back in order! It may be worthwhile you checking this out on your Equifax file.

My Experian file is fine and scores 999 (I know that this score isn't what lenders use but it does indicate the state of your file is in good order – but not necessarily your personal credit worthiness)

Anyway - to sum up, I would definitely try with Nationwide, but before you go on to application just ask them which credit reference agency they use and they will tell you.

Good luck and let me know how you get on.
:beer:

fishty

Wh05apk wrote: »

Why? are you looking to submit a fraudulent application (by not declaring credit issues) as it only shows up on equifax?

I fail to see why you may feel that this would be a fraudulent application - if equifax have an indicator that experian do not - how is this a fraudulent by the creditee :think:.

jonathanmiller

fishty wrote: »

I fail to see why you may feel that this would be a fraudulent application - if equifax have an indicator that experian do not - how is this a fraudulent by the creditee :think:.

One of the questions asks about previous credit issues. If you say no to having credit issues in the past when you are fully aware of a CCJ on equifax, then its false information.

Lenders would rather you own up than they find out. Some are getting more flexible with 'blips' in the background.

Also, some lenders starting to use callcredit for searches too.

fishty

jonathanmiller wrote: »

One of the questions asks about previous credit issues. If you say no to having credit issues in the past when you are fully aware of a CCJ on equifax, then its false information.

Alot of people may not know that they have conflicting credit file information if they do not check each file. Quite an expensive hobby to pay £6 to each of the CRA's each month to keep track. I use one

jonathanmiller wrote: »

Lenders would rather you own up than they find out.

Indeed - so they can send you down the road to the roaches with high interest rates.

jonathanmiller wrote: »

Some are getting more flexible with 'blips' in the background.

The ones that are getting slightly more flexible are also at a higher APR. These be sourced but with the risk of multiple searches from multiple application failures.

jonathanmiller wrote: »

Also, some lenders starting to use callcredit for searches too.

Also agree - Call Credit IMO are a waste of space but unfortunately we are at their mercy more and more - I don't think they have much of a customer service!

Basically if one CRA file favours the other, I still cannot see how this could be construed as """fraudulent""" when using this to your advantage. Even IF you are aware of any adverse credit on another file. As the A.N.Other creditor in question does not perform a search on this file then one would assume they do not legally require you to mention any information on said file ~ so if they're not bothered why the hell should we be?