please help

daisymay2008

Our mortgage application has been refused today by the Skipton, my credit score was very good and it's now gone down to poor even though I have no idea why and have not taken out any credit or missed any payments on anything since i took out the application, my mortgage broker is equally baffled, we will be looking elsewhere but i am so worried about this.....i was going to look online through experian to see my file but will this in itself effect my credit score? i'm so paranoid that it will scupper everything:mad:

Thrugelmir

Your credit score report is only of interest to yourself. Lenders view a far more detailed version (that's if they use the same agency).

daisymay2008

well i;ve just paid for an online check with equifax and my score is in the excellent band, so even more confused now:rotfl:

GMS

Ignore score with credit agencies. Until they start lending money it is irrelevant. Check the data within it and ensure accurate.

May be that Skipton use Experian or Call Credit. Get statutory online reports for each. £2 do not pay for the score.

What LTV were you applying for? Skipton are strict on criteria.

What was the reason for decline?

daisymay2008

GMS wrote: »

Ignore score with credit agencies. Until they start lending money it is irrelevant. Check the data within it and ensure accurate.

May be that Skipton use Experian or Call Credit. Get statutory online reports for each. £2 do not pay for the score.

What LTV were you applying for? Skipton are strict on criteria.

What was the reason for decline?

we were applying for 90ltv but could push to 85ltv...sorry my score was from experian not equifax, skipton told my broker they were equally confused but basically the computer had said no and thats that...i just don't understand how its gone from very good to poor when i haven't done anything:(

sammyjammy

As GMS has said you need to go back and look at the actual report not the score they give you, it means nothing. One vital thing is are you on the electoral role where you live?

daisymay2008

sammyjammy wrote: »

As GMS has said you need to go back and look at the actual report not the score they give you, it means nothing. One vital thing is are you on the electoral role where you live?

yes we are on the roll

Jojo1daffy

They won't have looked at your credit file and the payment history etc on it, they will have done a general ID verification and credit score. From my recent experience most people seem to be being declined at this stage and referred to the underwriter. You should get a full copy of your credit file showing the payment history and send that in for the underwriter to consider. They will then reconsider your credit file and application on that basis. You would think that the underwriter would be able to just access your full file and speed up the process but the banks would have to pay to access your file whereas you can get it for free, hence the long-winded process.

poppy10_2

daisymay2008 wrote: »

Our mortgage application has been refused today by the Skipton, my credit score was very good and it's now gone down to poor even though I have no idea why

Maybe this?

daisymay2008 wrote: »

my overdraft is 400 and during this period i went over it by £1

daisymay2008

poppy10 wrote: »

Maybe this?

i wouldn't have thought that would have such a massive impact on taking my score down so much?? anyway we've had an agreement in principle from another lender today so all must be ok after all

m00m00

As Skipton are the former owners of Callcredit it's highly likely they will use them. Call Credit are also the most 'lax' of the 3 credit reference companies when it comes to removing incorrect or out of date information, so it' s always worthwhile getting your £2 statutory report from all 3 of them. Don't pay for the overpriced on line monthly subscriptions, and definitely ignore any 'credit score' that is generated. All these scores generate is income for the Credit Reference agencies.