Experian Mistake

oligopoly

Hi there forumites,

When applying for a new mortgage a fortnight ago, Nationwide couldn’t seem to find my current address or historic mortgage payments via a credit reference search and so could not approve my mortgage application based on just a Vodaphone contract from 4 years ago. My financial adviser suggested I sign up to Experian and download the credit report so we can see what’s going on. On this report, there was no history of any mortgage payments or British Gas payments for the last 2 years (since I moved into current property). Consequently my credit score was in the mid-600s. I called Experian to see what the situation is – they apologised, saying the information is on there, it was just ‘written in a different way’. They asked me to check again the next day.

The next day all this information was magically on my report and my score had climbed to mid-900s! Problem solved I thought; only Nationwide still couldn’t see this information. I called Experian again – they said the problem lies with Nationwide; Nationwide say the opposite.

I’ve just spoken to my Financial Advisor and he says as ludicrous as it sounds, once Nationwide has run a search, they can’t do so again within 90 days. They won’t accept a PDF of my credit report/credit score either.

I am not prepared to wait 3 months as this will almost certainly kill both the purchase and sale. Due to my needing to use 50% of bonus payments to secure a mortgage, there is only one other provider that will lend me the required funds: Halifax. The issue is that my monthly payments will be £60 PCM higher...

So in essence, Experian’s mistake will cost me £1,500 over the course of the 2 year package. I'm sure Experian will deny accountability, saying I should have checked my credit score when I started looking around for houses some time ago and/or I could just wait 3 months, despite this not really being an option. Has this happened to anyone before? Is it worth writing a letter of complaint? I'm not expecting any financial remuneration but I am very angry.

Thanks everyone.

DVardysShadow

Ah. Computer says No.

Find a lender with a proper computer rather than a broken record player.

holly_hobby

Having explained the exprian issue to them, why won't they accept documentary evidence re your mge history from the lender (in the form of previous mge statements and an intrim statement), together with payment history (which will also act as POR) from BGas ?

Or why can't they write to the same to confirm you have resided and paid both mge (with no history of arrears), and bgas regarding utility payments, from your home address over the reqd period ?

Further POR should be accepted in the form of driving licence, passport, council tax payment book/statement, bank statements, etc, etc.

Has any of the above been suggested to them ?

What is your broker doing to assist (if you have one) ?

If Nwide are steadfast in their refusual to re credit check/score within a 90 day window, then you will need to consider another lender if time is of the essence.

Hope this helps

Holly

oligopoly

Thanks for the replies. It literally is a question of 'computer says no' I'm afraid. Nwide dont have the gumption or jurisdiction to 'overrule' what the computer says. After sending Experian a letter of complaint they responded with what can only be described as a lie - claiming that the information was in fact always visible to all...

Suffice to say i now can't be bothered to spend any more time and effort on this. It's left me with a bitter taste in my mouth with regards to Experian; I just want to get into the new property and have accepted i will have to pay an increased monthly rate.

Thanks.

AndriaG

oligopoly wrote: »

Thanks for the replies. It literally is a question of 'computer says no' I'm afraid. Nwide dont have the gumption or jurisdiction to 'overrule' what the computer says.

just realising this myself

Experian_company_representative

Sorry you've had a problem with your report. The data is on our database, it just sounds like there are various ways of putting your address into a credit check. It's clear that when you came back to us we adjusted the address in your CreditExpert profile to the correct format you then saw all of your data. Exactly what Nationwide saw really depends on how they searched your address - that is not something within our control. We have helplines for lenders who use our services so that, for instance, if they have any problem targeting a particular address they can ring us for advice.

James Jones