Incorrect adverse credit rating, and it's effect on getting a mortgage..

DR_EVIL_2

Help!!

Have recently had an offer accepted on a property, which is well below the asking price, and is conditional on us completing quickly. we need a mortgage which will be about 88% LTV on a short term basis, until I sell a property.

Ran through the mortgage deals available, and had settled on a provider, only to be told that I had an adverse record on my report. Upon checking Experian, I can see there's a record of a late payment in January this year relating to a mortgage I hold- which is incorrect (I changed jobs, and so my salary payment date changed- which messed up the STO dates- was told repeatedly by halifax that no adverse data would be recorded, as the payment was made by the end of the month).

Have now escalated this as a complaint to Halifax, who are looking in to it, and have 40 working days to do so. Trouble is, we're going to lose this deal if it doesn't complete in time.

Does anybody on here have any experience with lenders who would look at this at present, given the high LTV, and the late mortgage payment in place? (which will hopefully be removed within a couple of months)...

Ideally don't want to be tied in, as the debt levels will fall when I sell the other property.

Servicability not an issue on this from every lender I've spokent to so far..

All help greatly appreciated!

handytips

Sorry until the late payment is removed you have no chance (other lenders will look on this as an arrear unfortunately) you can put your case forward to each and every lender but the outcome will still be the same. One glimmer maybe go to a small mutual where the underwriting is done manually (Monmouthshire, Bath etc) and you may have some luck.

DR_EVIL_2

handytips wrote: »

Sorry until the late payment is removed you have no chance (other lenders will look on this as an arrear unfortunately) you can put your case forward to each and every lender but the outcome will still be the same. One glimmer maybe go to a small mutual where the underwriting is done manually (Monmouthshire, Bath etc) and you may have some luck.

Monmouth would have done it at 80%, and we could just about get to there if need be, but their underwriting is external over 80% from what the advisor told me.

Have been told by today that some lenders look back for varying lenghts of time- some as little as 6 months, others up to 12 months. Anybody able to shed any light on this? I'm wary of going to too many lenders at the moment, and risk damaging my credit file worse, as a result of more searches...

handytips

Usually if Monmouth say they will do it, then this is usually the case. I would stick with them.