shock bad credit score

bing66

Hi All
bit new to this
me and the wife applied jointly for a mortgage with the A&I and were horrified to be refused because of bad credit, checked our credit record on experian and came up with a [1] on my credit card and nothing else
Everything else is a [0]
my overall credit rating is 789

can anybody tell me how to sort this out, from what i can gather i need to send my credit report to A&I will this solve our problem

Earning 46K
Potential mortgage 180k
Deposit 21k

MortgageMamma

\Did you check your wifes credit score?

Have you had any missed payments? Are you sure you were declined on adverse credit?

bing66

hi
yes included the wifes details on the credit check
"missed payment" if you mean did i miss one completely, then no, only ever been a bit late now and then
ie payement due on the 19th, payed on the 17th, went through by the 20th,
therefore a day late,
gutted with this and now am pannicked
whats the best way forward
regards
Al

homer_j_3

what were u applying for eactly? a&l have been PITA for last month or 2....

MortgageMamma

Do these late payments show on your credit rating? if so, it could have been something to do with that. Did the adviser at A&L actually say it was adverse credit?

bing66

Do these late payments show on your credit rating? if so, it could have been something to do with that. Did the adviser at A&L actually say it was adverse credit?

no i dont think they have showed up exactly
it says under natwest credit cards
In last 36 months, number of status 1-2 is: 1 number of status 3+ is: 0
what and why are there a number of green [0]
do they stand for a particulat month

what were u applying for eactly? a&l have been PITA for last month or 2....

we were applying for a 2 year fixed rate mortgage, interest only to begin with, and we were going to open an isa

MortgageMamma

It could be the missed payments - its hard to say really without seeing the credit report

I don't think it can be anything to do with your earnings or borrowing amount as that all looks fine

Whats your plan of action now, my MIL works in Abbey as an adviser and people appeal declines all the time

Did you get to full mortgage application stage or just agreement in principle?

Will you now be looking for another lender/product?

MM

kristian13

i am in the process of buying a house for 205,000, have sold ours for 205,000 have exisiting mortgage with halifax for 170,000 promised we could port it over when we took it out based on our basic earnings last year. have just applied to do it they have declined saying we dont earn enough even though we are on more this year will have to apply for new one in process of doing one with A & L and concerned by last thread as i have just discovered on experian that someone has been using my name with a linked address from my previous address buying catalogue goods and they have missed payments now i am out of my mind with worry trying to sort out my innocence and also needing a quick mortgage because of halifax delaying it any advice would be appreciated urgently thanks

bing66

A&I and halifax were able to lend us what we needed
others would not lend enough, worried abour re-applying incase its rejected again and effects our score more, need to do some research, how do you go about appealing, this seems the best course of action as they are the ones who have done a check

MortgageMamma

kristian13 wrote: »

i am in the process of buying a house for 205,000, have sold ours for 205,000 have exisiting mortgage with halifax for 170,000 promised we could port it over when we took it out based on our basic earnings last year. have just applied to do it they have declined saying we dont earn enough even though we are on more this year will have to apply for new one in process of doing one with A & L and concerned by last thread as i have just discovered on experian that someone has been using my name with a linked address from my previous address buying catalogue goods and they have missed payments now i am out of my mind with worry trying to sort out my innocence and also needing a quick mortgage because of halifax delaying it any advice would be appreciated urgently thanks

Hi Kristian

if you start a new thread with this it wont get jumbled up with this one and I will give you some assistance

MortgageMamma

bing66 wrote: »

A&I and halifax were able to lend us what we needed
others would not lend enough, worried abour re-applying incase its rejected again and effects our score more, need to do some research, how do you go about appealing, this seems the best course of action as they are the ones who have done a check

How did you apply through a branch or on the phone?/|Internet?