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Will I be able to get a mortgage?

Hi,
I am considering buying a house and requested a copy of my credit report from Noddle yesterday to check it over, I have been given their worst score possible :(
There is only one thing mentioned that it could be:

In April I applied for finance on a PC and was suprised to be turned down, it was only afterwards I realised what had happened. I wasn't very well prepared and they wanted my bank card number to do an identity check but I didn't have it with me and in error from memory I quoted a card number from one of my old bank accounts.
On my credit report the search appears as being done by GB Group Plc - which appears to be a fraud and identity theft organisation, and the purpose was for 'Anti-Money Laundering'!!! :mad:

Hopefully I can get this sorted quickly, I still have a few months until I intend to buy but it is very concerning. The company will only deal in writing too so I just have to hope that they are prepared to help me out quickly with this. I am also waiting for a call back from Noddle, hopefully the are able to advise me if this is the only reason for my bad score.

That was yesterday, today I turn on the TV and the story of the day is about how house prices are going down as people are currently unable to get mortgages without big deposits.
A bit of a double whammy :(

Providing I can sort this credit report thing, does anybody have any advice to offer me about applying for the mortgage?
I'm looking at buying a house for around £70,000 (50% Shared ownership, and will have a 10% deposit. My salary is £23,500

Any comments about the mortgage or the credit report thing would be much appreciated, I am starting to wonder if a 10% deposit will we enough?

Many thanks x

Comments

  • kingstreet
    kingstreet Posts: 38,987 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You've skirted all around the issue, but not actually told us the problem. What is on your credit file which is causing this problem?

    I suggest you obtain the paper versions of your file from the other CRAs, Experian and Equifax as there are only two lenders using Call Credit I can think of...

    Don't pay for daft "scores" as these are meaningless and a waste of your money.

    Equifax

    https://www.econsumer.equifax.co.uk/consumer/uk/gb_consumerletter.ehtml

    Experian

    https://secure.wiseconsumer.uk.experian.com/wiseconsumer/secure_index.html?data=00
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Noddle is part of call credit, I got their details from the MSE website as there is an article explaining that it is free to use.

    I cannot see anything on my credit file that looks out of place other than this money laundering thing.
    I have never defaulted on anything and currently have a car loan and a credit card that is paid regularly.
  • kingstreet
    kingstreet Posts: 38,987 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A money laundering search (identity/address) is a perfectly acceptable part of borrowing or arranging insurance. Often, such checks are invisible to lenders as they are only "soft" footprints on your credit file.

    If you have been declined credit, you may find there is something on one of the other CRAs you are unaware of.

    Hence my suggestion you get copies of those files too...
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • OK Thanks, I have been unable to speak to anybody to discuss this and thought the worst because the Anti Money Laundering narrative coincided with the only transaction on there that I had a problem with.

    Hopefully I will be able to discuss my poor score with somebody at Noddle to assertain why they have rated me so low, but I will definitely go to Experian and Equifax too and see what their reports say
  • Experian_company_representative
    Experian_company_representative Posts: 2,134 Organisation Representative
    Part of the Furniture Combo Breaker
    ID and anti-money-laundering checks are not visible to lenders so don't affect credit applications.

    I know that Experian's credit report score includes pointers on good and bad influences and I'd be surprised if the other CRAs don't do the same.

    James Jones
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
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