Nationwide rejection

Thrugelmir

HARSA wrote: »

You may be right but how often is this used?

I'll let you decide how seriously the matter is viewed. Certainly not a game.

The NationalHUNTER system is an anti-fraud data sharing system for use by members of the Financial Services Industry.It was founded in 1993, with the assistance of the Council of Mortgage Lenders (CML). From the initial six member organisations, the system has grown to include approximately 90 sites, all sharing application information for the purposes of fraud prevention.

N HUNTER Limited is an independent not-for-profit company and is solely concerned with the prevention of application fraud within the Banking and Finance community.

What is Application Fraud?
Applicationfraud is when an individual or group of individuals apply for financial services and knowingly misrepresents facts within their application. Some examples are given below:

An applicant impersonates another person after obtaining personal information about them and applies in their name.
An application is made and the applicant deliberately fails to disclose previous address information as they have adverse financial information present at that address which would prejudice the chances of the application being successful.
An applicant inflates their annual income to facilitate access to additional borrowing.
There are many more types of application fraud, but all involve untruths being present within the application.

HARSA

Again I am not bothered - the evidence is that a lot of people have obtained credit with one clean credit file.

The hunter stuff is been blown out completely by you and the likes of Brit1234. This operation is more on catching out people who carry out fraud on a bigger scale.

Someone who simply failed to declare that they had a ccj some 10 years ago is hardly going to be pursued. I can bet my life that they wouldn't make the top 10 most wanted:rotfl:

And it is not a crime but rather a law of tort which is purely a civil matter between the lender and the borrower.

Now if this was an organized crime (wide scale fraud) then I am sure it will come to the attention of this BOUNTY HUNTER operation

However I totally agree with you that giving false information on any application is not the right thing to do.

Yorkie1

Someone who simply failed to declare that they had a ccj some 10 years ago is hardly going to be pursued. I can bet my life that they wouldn't make the top 10 most wanted:rotfl:

And it is not a crime but rather a law of tort which is purely a civil matter between the lender and the borrower.

HARSA your information about fraud / civil law is completely incorrect.

If anyone is asked a question on a mortgage application form and lies in response, that is a clear-cut example of offence of fraud by false representation for which there is a maximum penalty of 10 years' imprisonment. The guideline for sentencing for this, for a mortgage valued at £20K - £100K, is up to 12 months' custody. Hardly something to be laughed at.

There is also the offence of false accounting, although that's going to be less frequently used in the light of the availability of the fraud offence.

Thrugelmir

HARSA wrote: »

The hunter stuff is been blown out completely by you and the likes of Brit1234.

I've spent plenty many years being involved with finance issues (and when necessary recovering debt and approving the granting of credit).

HARSA

Thrugelmir wrote: »

I've spent plenty many years being involved with finance issues (and when necessary recovering debt and approving the granting of credit).

Very well my contribution to this thread ends. The other person and few other people in a similar situation will now have all the information they need

The fact remains that you can get a mortgage and other forms of credit if you choose the right lender. In a sense that one credit is poor but the other is clean.

Luckily I am not in a position whereby I have to lie as my finances are in order and I am clean on alll 3 credit files. In the event I wasn't and needed to get a mortgage that I know very well I can afford and will not default on nor defraud then I will not think twice using this 'loophole'

The decision that lenders make to just search on one credit file and not on all or for that matter report to all three is mainly their fault.

A single person making application with no intend to commit massive scale fraud and only using this opportunity does not fall under this so call Hunter operation.

So it's up to the other person what he does with this information.

FACT IS THAT NATIONWIDE AND FEW OTHER LENDERS WILL SEARCH ONLY EXPERIAN. SO IF YOUR EXPERIAN FILE IS CLEAN BUT NOT YOUR EQUIFAX THEN USE THEM IF YOU WISH TO DO SO

Thrugelmir

HARSA wrote: »

The decision that lenders make to just search on one credit file and not on all or for that matter report to all three is mainly their fault.

Sometimes I just give up.

Angry_Bear

Thrugelmir wrote: »

No settlement date.

This is incorrect. See here.

Default - Six years from the date the account was settled, written off or defaulted – whichever happened first
CCJ - Six years from the date of judgment/decree

SHIRESLAYER

Hey,

Cheers for posting that link for me :-)

Im still confused though as if it says what ever happens first are'nt you always going to default first and presumeably settle later?

Just unsure on the wording?

Sorry for being dim in advance btw!

Angry_Bear

I'm not sure, it does seem a bit odd that you might settle first and THEN default - but maybe that's what happens if you agree a partial settlement.

HARSA

Angry_Bear wrote: »

This is incorrect. See here.

Thrug always comes up with his one liners mainly defending the financial industry. He is !!!!! of the industry and last time I checked this site is a consumer forum geared towards helping eachother on how to explore loopholes and general saving money tips and basic financial advice.

Getting credit on one clean credit file is so MSE and it's the responsibility of the banks to close this loophole and carry searches and report with all three agencies.. Better checks and reporting will mean that they don't have to spend more time and money setting up bounty hunter operations

Which clearly doesn't work as people with bad credit history on one file and not on another go on to successful obtain credit.