arrangement to pay - mortgage application

AliceBanned

I have accepted them, as clearly I am trying to get in a strong position to buy, despite it being made so much more difficult than even it was 15 years ago, but I am not the first person to express the hypocrisy of it all, after they were bailed out by taxpayers.

mic200202

An arrangement to pay will show on your personal credit file copy but most lenders systems are geared to look for late/missing payments particularly over the last 3 years.They will not see all the info on a full credit report as it goes beyond what they are really interested in.

I doubt very much the arrangement to pay will cause you too much of a problem as long as you prepare the groundwork with your broker over the next while.

AliceBanned

mic200202 wrote: »

An arrangement to pay will show on your personal credit file copy but most lenders systems are geared to look for late/missing payments particularly over the last 3 years.They will not see all the info on a full credit report as it goes beyond what they are really interested in.

I doubt very much the arrangement to pay will cause you too much of a problem as long as you prepare the groundwork with your broker over the next while.

Thanks, that's some good news!:)

Simon_gloster

AliceBanned wrote: »

I have accepted them, as clearly I am trying to get in a strong position to buy, despite it being made so much more difficult than even it was 15 years ago, but I am not the first person to express the hypocrisy of it all, after they were bailed out by taxpayers.

Not all lenders were bailed out you know. Was RBS, LBG one of the lenders your having problems with?

As mentioned time is a healer, blame the American Mortagage Brokers for the issue you have not anyone else i'm afraid!!!!!

Thrugelmir

mic200202 wrote: »

They will not see all the info on a full credit report as it goes beyond what they are really interested in.

Lenders receive datasets from the agencies based on their own requirements. Credit reports are products for consumers to buy. They are hold no value to the lenders themselves.

AliceBanned

Simon_gloster wrote: »

Not all lenders were bailed out you know. Was RBS, LBG one of the lenders your having problems with?

As mentioned time is a healer, blame the American Mortagage Brokers for the issue you have not anyone else i'm afraid!!!!!

It was a global thing, surely, the way the mortgage market was?

AliceBanned

Yes RBS was one of the lenders.