Call Credit!

SilentBob

Right, my wife and I are looking at getting a new mortgage, the Building Society we are applying to use Call Credit for their credit references.

Anyway, due to issues, I was advised to look into my credit file. I tried to use Call Credit but had to wait for a PIN, so got my report off of Experian, that came back with no issues (excellent rating apparently). I also went to visit my bank to look at a mortgage and got told both my wife and I have a Grade A credit rating (didn't proceed with mortgage through them due to other reasons). Finally get to view my Call Credit rating and they have me as an average rating.

How on earth can the reports vary so much?

MoneySaverLog

Forget the ratings, what data is in your call credit report. That's what they are looking at.

It's different cause potentially all 3 credit agencies can show different data based on what lenders have put there. Some report to 1 others to 2 and yet others to all 3.

SilentBob

In the Experian credit report it showed 1 missed payment in 2007, the Call Credit report showed that all of my credit accounts as having green "pebbles" or being settled...

Dave_Ham

Come on Bob - there is definitely something you are being silent about...

Do not beat around the bush, tell us the issue.

As I read this, you are trying to get a better understanding of a specific issue without asking it outright..

So I will take a punt that you are ex bankrupt or IVA and that you are now trying to use Ipswich BS and they have picked up something...

I may be miles off, although when you give limited information you can only receive limited information.

Experian and Equifax both get more information from lenders than Call Credit, but the points scores are useless and only the data within them is worth anything.

Had a client last week with 996 on Experian, 2 CCJs and a default within last 3 years - work the logic in that....

SilentBob

No CCJ's, IVA's or Bankruptcy thank you very much, never defaulted on an account in my life.

It just appears this Call Credit bunch are holding wrong information on me.

Dave_Ham

Ok - but I am still confused.

None of the top tier lenders use Call Credit and the places that do only use them to check against and not to undertake a computerised credit score.

Why have you got to use this specific lender if all else is good...?

Thrugelmir

SilentBob wrote: »

How on earth can the reports vary so much?

Different scoring systems. The consumer reports are of no use to lenders. Who access different data sets when underwriting loans.

SilentBob

Dave_Ham wrote: »

Ok - but I am still confused.

None of the top tier lenders use Call Credit and the places that do only use them to check against and not to undertake a computerised credit score.

Why have you got to use this specific lender if all else is good...?

Basically it's a new build, we are part ex'ing our existing property but due to negative equity in our existing house (we bought at height of market in 2007), we need a 95% mortgage.