Mortgage and credit searches

hd7481

On the 2nd Jan my husband phoned our current mortgage provider (who i shall keep nameless just now) to ask them if we could get a mortgage for a different property but with the same value. The customer service advisor said he would do an affordability check, which would not involve running a credit search. Anyway, this affordability check came back declined and he wouldn't say why. It is bizarre as we are currently paying £350 a month on a silly rate for £50k and we wanted to buy another property (and sell ours) with the same amount of mortgage at their better rate and they said no!?!

Anyway, i logged into our experian credit file today to see that our mortgage provider ran 2 searches on the 2nd Jan, one for my husband and one for his financial associate (me). He phoned them today to question them about it and they said they would listen back to the call. They then called back to say they couldn't find the call and would hand our dispute to the complaints department. But whatever happens they cannot remove the search from our file.

Where do we stand on this?

To be honest i am not as worried as i was earlier about the credit search affecting other mortgage applications, as my husband lost his job today, so that puts moving on hold, unless we get the house taken off of us!

MortgageMamma

Oh dear your having a bad time of it. I hope things pick up soon. If the customer service rep said no search would be run and in fact a search was run you can make a formal complaint and ask for the search to be removed from your credit files.

About your husband and his job, do you have mortgage payment protection? What are his chances of finding work quick;y even a temp job? There are measures you can take now, such as a temporary payment break or switching your mrotgage to interest only. Inform your lender without delay, they will be more sympathetic if you speak to them before any arrears occur. You may find the following link helpful http://www.moneymadeclear.fsa.gov.uk/tools/publications.html scroll down to the mortgages section and read - what happens when you can't meet your mortgage payments.

HTH

MM

hd7481

Thanks for that MortgagMamma, i think i will get my husband to phone them back and chivvy them along, regardless of whether they have found the call yet. And the fact they told us they would not be able to do anything about it well hmm. We do not have mortgage payment protection, things should be ok moneywise as he is prepared to do anything, even odd jobs for people so i am not too worried at the moment.

UK007BullDog

He will have to do it in writing and sent be registered mail.

They do not like to do things over the phone. Data protection and all that.....