Electoral Roll Query

jane_s000

I am hoping to apply for a mortgage within the next year and am trying to do everything I can to give myself the best chance of being accepted. When I moved into my current rental property six months ago, I was careful to ensure that I got myself on the electoral roll as I know this impacts on my credit score.

Yesterday, I had a meeting with the Branch Manager of my local Nationwide about their 'Save to Buy' product. It was a meeting that I felt very uncomfortable in and cannot help feeling that I was told some untruths.

Firstly, he put a lot of pressure on me to switch my current account to them and bad-mouthed my current bank. Apparently if my account is with them, they will remove any charges etc. from my account before I make my mortgage application, improving my credit score. Is this correct? Can they really do that? To be honest I am rarely charged by my bank so do not really see that as a big worry besides, surely the damage is probably done by now no?

Secondly, when I explained that I had been careful to register on the electoral roll when I moved, he asked if I lived in a flat. I said that yes, I did and he said this might cause a problem I'd the building had not been registered after it was converted to flats. He said he had access to Experian and, (claiming that banks could not do this) could see things like this. He demonstrated this by bringing up a credit card application from earlier that day. He made a terrible attempt to hide the name of the applicant but I can tell you I saw her name, address and other details and know that she lives in the same street as me. This must be coincidence as I haven't given Nationwide my address details, just name and mobile number. He said that Experian refused the application and he had to override it as the building was not registered. Is this right? If it is, can I change it? If hers isn't registered I'm sure mine won't be.

Like I said, I came out of the meeting feeling pretty uncomfortable. Am I overreacting, or is this all a bit off?

Pupnik

I'm not sure, but my flat never shows up on these automated systems, although I am on the electoral role at this address. I have had credit checks for mortgage applications and it hasn't been an issue, although I haven't yet got far enough along to exchange so whether it is a problem later down the line I don't know. None of the brokers I have seen have mentioned it being a problem when we need to enter it into the system manually. Presumably you are paying council tax so I would assume the building is 'registered' whether it shows up on these systems or not.

It sounds like the branch manager is exploiting your inexperience though, it doesn't seem right that he should be able to show you someone else's credit card application. Also, if they make you feel uncomfortable even at this early stage would you be happy banking with them?

Yorkie1

It does sound rather unprofessional of him.

If I were you, I'd get my credit report from each of the 3 credit reference agencies and see what's on there.

jane_s000

Pupnik wrote: »

I'm not sure, but my flat never shows up on these automated systems, although I am on the electoral role at this address. I have had credit checks for mortgage applications and it hasn't been an issue, although I haven't yet got far enough along to exchange so whether it is a problem later down the line I don't know. None of the brokers I have seen have mentioned it being a problem when we need to enter it into the system manually. Presumably you are paying council tax so I would assume the building is 'registered' whether it shows up on these systems or not.

It sounds like the branch manager is exploiting your inexperience though, it doesn't seem right that he should be able to show you someone else's credit card application. Also, if they make you feel uncomfortable even at this early stage would you be happy banking with them?

I agree except they almost have me over a barrel in a way. I do not want a new build and do not have the savings to find a 10% deposit. There are very 95% LTV deals out there, Nationwide's may be the best on offer. Think I might try the Nationwide in the next town and see if I feel better about them or if they give me the same spiel.

harvey115

You just met a Sales Man he said no other banks have access to Experian, so does he expect other lenders to underwrite from psychic powers or something.

He basically did a sale pitch in fron of you, making sure that you start disliking your existing bank and chose them over it. To be honest if I were you, you would not truct a person like this for my Mortgage application. Although the application is accepted or declined on its merits, the fron line staff needs to be proactive and on the same time professional enough to help the customer and I think this person lacks both the requirements.

Flats are always a bit of issue with credit history because they end up having different address representation by different occupiers and the credit reference agencies automated systems mess it up. I would suggest:

1 - Get all three of your credit reports (Experian, Equifax and Call Credit)
2 - Check if all your details and agreements are in order with all three of the reports. Some things will be missing in one another, its usual.
3 - Either go to some other Nationwide branch or choose another bank.

Hope this helps.

kingstreet

jane_s000 wrote: »

He said that Experian refused the application

Experian don't make decisions for any lender. It supplies data to the lender and the lender's credit scoring system decides who gets what.

A manager may be mandated to approve an application which his firm's system turns down for some reason, but what he said about Experian is incorrect.