Low credit rating :( Is thier anything we can do?

Kayalana99

I'm so depressed about this whole thing :mad: We've been scrimping and saving to get together a house deposit and we've lent abit extra of the parents to top up the funds.

Back in January my partner moved banks to Santander as I love the customer service thier and thier products in general.

All the direct debits transferred over but for some reason my partner had signed up for a 3month trial of Love film..low and behold end of Feb they tried to withdraw £6 from his old Nationwide account. (He did try and close it before this comes up but the only way he could was to also close his online savings account and he couldnt do this in bank)

So its now November and they call him and turns out this £6 debt has now become £150! So he calls bank gets it sorted out ends up paying £61...fair enough. All sorted as soon as he found out.

Now his credit score is 1/5 and we went into nationwide and they said thier is no possible way of them removing it from his credit file so it looks like were going to have to wait up to two years before most lenders would even consider us. Our morgage broker has even tried talking to a few lenders direct but its just not got us anywhere.

The worse part is my Dad is probally going to want his 'loan' back and in 2 years knowing him he will have invested it elsewhere.

droiderm

What does that look like on his credit file ?
Missed payments ?
People will ask the purchase price and amount of deposit.
Also has he checked his other credit files ?

Dave_Ham

Its all about the details.

What is the deposit vs purchase price?

What do Experian, Equifax and Call Credit show?

Really need to ascertain if this has a default date, or just late payments. The latter is easier to overcome.

kingstreet

OP's other, very similar recent thread;-

https://forums.moneysavingexpert.com/discussion/4287923

Kayalana99

Hiya sorry for late reply, yes vry similar as I posted that before the broker came back.

At the moment it is unsettled debt, as although he has paid it, it hasnt updated on Equlifax and Callcredit and shows as late payments over 3months (although it was from march-nov) and our broker is saying they have strict guidelines on missed payments like only allow 1 in 24 months.

The house is for 90k nd our deposit is 10%, he has managed to get one company to agree but only if our deposit is 20% and were not going to raise that kind of money anytime soon.

We havn't checked Experian because we have used them before and will be charged £15.00 and I didnt see point for it just to tell us same thing?

Thanks for responses so far anyway

Dave_Ham

You can get the Experian Statutory report for £2 and no it will not show the same thing.

Good luck

latecomer

It costs £2 not £15 and each credit reference agency may hold slightly different information so its worth checking them all.

Experian

https://secure.wiseconsumer.uk.exper...x.html?data=00

(link pinched from kingstreets posts )

Kayalana99

Ahh ok. Will try that but unf parnter is at work till 10pm so I guess I'll let you know tomorrow!