equifax wont update my information for our mortgage!!

roojuice1

PLEASE HELP!

After selling our house in feb this year, we were agreed a 95% mortgage in principle with Leeds. When a month later we needed to increase the amount slightly they ran another credit check and told us we were denied. To our shock and theirs our credit rating had gone down within that month. After a month of trying to understand why as our experian credit is 984 and 998 we eventually were told it was equifax they used and as we had been removed from the electoral role it had lowered our score! Relieved at first we called the council to be added to my parents where we are staying at present. The council however where in the middle of their census. We waited patiently as a whole month went by before we could be added, watching house after house slip away! Once we were added nothing changed!!! After many calls to equifax they said they will not update our information until January. How can they do this??? surely this is providing banks with false information? This is stopping us from buying our dream home even though we score highly on affordability and both have good/excellent credit!! There must be something that can be done? How can one company have such power! especially when they now hold incorrect information. I just have absolutely no idea what I can do now! I am now 10wks pregnant and feeling pretty desperate to settle down. We work hard and have been saving hard and it just feels like nothing is going our way.

Can someone help????:(:(:(:(:(:(:(:(:(

hcb42

this has been going on since Feb???

when you needed to increase the amount, was this the LTV? as i dont think anyone will lend more than 95%

roojuice1

Not quite. We were first agreed the mortgage when we sold our house. It started around may when we tried to increase mortgage as the original house fell through. Took so long to get Leeds to tell us why they were now rejecting our application, By the time they worked out why it was July! Not being on the electoral role had lowered our score! Then the council took till Oct 16th to update census info. Now Equifax say they will update our score in January! Even though council have sent updates and I've emailed Equifax with our role number and confirmation from council!

roojuice1

Yes it was ltv

HARSA

roojuice1 wrote: »

PLEASE HELP!

After selling our house in feb this year, we were agreed a 95% mortgage in principle with Leeds. When a month later we needed to increase the amount slightly they ran another credit check and told us we were denied. To our shock and theirs our credit rating had gone down within that month. After a month of trying to understand why as our experian credit is 984 and 998 we eventually were told it was equifax they used and as we had been removed from the electoral role it had lowered our score! Relieved at first we called the council to be added to my parents where we are staying at present. The council however where in the middle of their census. We waited patiently as a whole month went by before we could be added, watching house after house slip away! Once we were added nothing changed!!! After many calls to equifax they said they will not update our information until January. How can they do this??? surely this is providing banks with false information? This is stopping us from buying our dream home even though we score highly on affordability and both have good/excellent credit!! There must be something that can be done? How can one company have such power! especially when they now hold incorrect information. I just have absolutely no idea what I can do now! I am now 10wks pregnant and feeling pretty desperate to settle down. We work hard and have been saving hard and it just feels like nothing is going our way.

Can someone help????:(:(:(:(:(:(:(:(:(

The same thing happened to my friend. Their next update is Jan 2013 and they will not be persuaded to do otherwise. He gave them his electroal ref number but they simply refused to update it until Jan next year

On the other hand Experian updated their system the very next date when the council released their oct electoral roll which was 16th of last month.

So I recommended that he tries Britannia Building Society who only searches experian for all new mortgage applicants and he was accepted.

Also to add there are a lot of banks & BS who will accpet you for a mortgage without you being registered on any electoral roll. They will simply require more prove like contacting your employer, more pay slips & bills, etc.

The score you refer to is equifax own score and is not used by any bank in deciding whether to lend you or not. So I doubt very much that they refused you purely on that. Try Britannia and make it known to them from the start that your are not on the electoral roll.

Good luck

Belmontboy

We are in a similar situation. My credit file shows two defaults from 6 years ago and it clearly stated that they would be reported until October 2012. I updated my credit file today (November) and they two defaults are still showing. I don't know what to do. These were they two last pieces of adverse credit on my file from several years ago and I have waited for years until they come off. Now October has passed and they are still there. I have sent a message to CallCredit so will need to wait.

withabix

Get a copy of your entry on the Electoral Register from the Council.

Simples.

mrginge

This is hardly equifax's fault. You should be directing your anger at Leeds BS. Have you explained this scenario to them and can you prove that equifax's info is out of date?
I assume from your post that you are not using a mortgage broker. If you are then what have they said? If not then maybe you should consider one. Hopefully one of the experienced brokers on here will be able some more practical advice.

Buzby

The council are doing nothing wrong - why should they be required to update the Electoral Register any more frequently than annually (as required by law)? If the CRA only gets the data update annually, then others ay find the are still showing at the address the left up to 12 months previously.

The fact lenders place so much faith in a CRA report is flawed, but in situations as you describe, a verbal confirmation you have temp moved in with parents would have need sufficient to override this deficiency - it just needed someone with a bit of common sense to realise it.

Perhaps you're chasing the wrong Mortgage company?

holly_hobby

The mge lender should accept additional proof of residency, such as your council tax bill, utility bills, bank statements, voting card (if you have had recent local elections, HMRC conf of address - have you asked them what additional info they will accept, in addition to confirmation from your LA that you are indeed on the VR.

To not do so, is really where the issues lay, not with the CRA being discussed.

Hope this helps

Holly

roojuice1

Thanks for everyone's reply so far.

I will be calling Leeds tomorrow to see if there if they will accept anything else as evidence. However previously they said they only care about the point score.we know that the only area on our report that is a problem is electoral role as it flashes up bright red on our report where as everything else is green!

Definitely didn't mention a problem with council they have done what we'd expect and fully aware that it takes time to update their records. They have done so and sent info out to CRA.

I have sent Equifax letter from council to confirm our role number. Still they won't update it.


Believe me all, we would go with another mortgage company if we could
however 95% mortgages are almost impossible to obtain. We only broke even on our last place so have been saving like demons to get 5% deposit! Leeds is one of the only mortgages available at a rate that is ok. And fixed. Rate also.