Refused a remortgage!!! Help please!

dotty_totty

We've had our mortgage with a certain high street lender for 3 years and our initilal term has just ended. We went to see an ind. adviser and it seems like the deal our own lender can offer is the same as the ind. guy can get us, so we applied to remortgage with our crowd and borrow a few quid to get bathroom and kitchen revamped. Mortgage is only for £57k on a property worth £160k and wanted extra£10k.

Hubby had (unknown too us until we did a credit check before xmas) a CCJ against him from an OU course he started 5 years ago and at the time paid a final fee to pull out early. Unfortunately the CCJ was there so we paid it in October and asked for a note to be put on his credit score to say that its been settled. we only owe £1500 on credit cards between us and nothing else.

High street lender has refused to remortgage for us even though they initially gave us the mortgage when this CCJ was active against us, WHAT CAN WE DO?? Does anyone have a template letter we can send to them to ask them to reconsider? Dont wanna keep appyling elsewhwere if its gonna effect the credit system!!

Please help me!!!:beer:

LisaT186

No template letter I'm afraid, but the way you've worded it above makes perfect sense. Just write to them appealing the decision and explain the situation fully, particularly that they advanced the loan when the CCJ was already in force.

Was this the only reason they declined the application? No problem with affordability or general credit score? I only ask, because as they have lent while you had a CCJ then it does seem strange to refuse now unless there is something else. It may be that the court took a long time to put it on your record.

dotty_totty

Thanks Lisa,

Affordability is fine, hubbys wages have gone up and i've started working, credit score is fine except this CCJ thing. Is it worth phoning experian and trying to speak to someone?

danjberry

there will be no point in calling experian, they will not tell you anything, there should be date the CCJ started on your report and date it was settled. just explain that to the lender lisas point and ask them to explain why hey declined you when they were happy in the past.

i take it when you mean remortgage you actually mean you are staying with the same lender and taking on a new product and further advance, and not actually changing lenders?

LisaT186

As Dan says, no point in phoning. If you want to see dates registered etc you can go to https://www.experian.co.uk and register for the 3 months free trial to view your report on line. That will show you dates registered, settled etc. (Don't forget to diarise to cancel if you don't want it for future!). Sometimes they require you to send ID up before you can view, but not always.

dotty_totty

Thans Dan/Lisa
Yes we were looking at staying with the same lender, just going onto a different product. Will register with experian and see whats on there.

TKPeters

Try http://www.annualcreditreport.co.uk as it is FREE

dotty_totty

Thanks TK :beer: