Please help ref searches!!!

Katg1

My partner and I had an AIP from the Coventry in sept valid for 28 days. Since then we have found a property and had an offer accepted. I sent back the mortgage paper and Yesterday discovered I have had arrears added to my credit file for September November and December with regards to exceeding an overdraft limit.

excesses are on a dormant account which was accruing interest charges. I was not sent a letter by my bank to tell me my limit had been exceeded and I am devastated to have found the arrears upon checking my credit file.

The Coventry carried out a credit check on 01/09/11 prior the the arrears being being registered. Are they likely to carry out further searches? Should i inform them of the problem? Are they likely to turn us down?

I have cleared the overdraft and will close the account. I am also writing to my bank to ask them to remove the arrears from my record, but that could take forever!

Advice please!!!

KingElvis

Yes, they will carry out a full credit check when you make the full application.

What do you mean arrears? are these marked on your credit history and what do they say?

Katg1

I have incurred interest charges on a bank account which have taken me into arrears. There was a small negative balance on the account which I had totally overlooked. The account has been incurring interest charges over the last two years which have taken it outside of it's agreed limit. I was not aware of this as I had not touched the account in the last two years, nor did my bank send me a letter regarding any arrears. My credit file now shows 123 for sept to nov.

I only found out this week and unfortunately after having sent back our mortgage application forms! I am so worried about the mortgage companies second search as this was not showing when they first carried out a credit check for the AIP. Should I contact the Coventry about this? Will they decline us now?

Thanks for your help!

kingstreet

TBH we have absolutely no way of telling you if this will have any impact. All you can hope is the overall strength of the remainder of your application is sufficient to outweigh the negative impact of this, should any occur.

Katg1

Hopefully it will be then! Can't believe I have been so stupid as to not keep a closer eye on things.

Do you think I should call the Coventry and let them know what I have found out about my credit file? Or should I keep quiet and hope for the best?