Excellent Score but no joy

officepunk87

Hi all, I've been a fan of these forums for a while but am at hoping for help/advice as I'm struggling to find any light or clear idea of how to move forward.

I have an excellent credit score (998/1000 with experian)

I have a CCJ which is over three years old for £236 which was paid off immediately.

I have a default on a car loan which is paid off and due to disappear in September this year.

I also have some late payments for a laptop credit agreement which amounted to £58, which was caused by switching to Santander from HSBC and HSBC not providing details of this DD to Santander. I found out about this last summer and paid the whole lot straight off, the outstanding amount and the rest of the debt. Unfortunately I moved just before switching so never got the reminders/chasing letters despite setting up a forward.

I've been told by a broker that the last one in particular will stop me getting a mortgage as its recent. I've written to HFC Bank who the loan was with explaining the situation, including a letter from Santander explaining that they were not provided with this information by HSBC.

I've written to HFC Bank asking for a "goodwill adjustment", but they've said its illegal as they won't lie on the report. I understand this, and I have added a note to my credit report explaining this error. I also get that its ultimately my responsibility to make sure the DD is paid, but to be honest it was £7 a month and I genuinely didn't notice.

I'm devastated as I've been working really hard over the last three years to get "clean", the only debt I have is a Student loan and I've even managed to get some decent money saved for a 10% deposit, fees and furnishings.

Do mortgage lenders read the notes on credit reports? do they take them on board at all?

Realistically if I'm stuck with everything as it stands, how long until I've got a chance??

Thanks in advance!!

sammyjammy

Unless you want to pay very punative rates in the current economic climate you don't have a hope with a CCJ and a default, never mind the late payments. If you had paid the CCJ immediately then it wouldn't/shouldn't be on your credit record.

I appreciate you've been working hard on your record but you're far from "clean", be patient, wait for the CCJ to disappear, think of the deposit you'll have by then.

Thrugelmir

officepunk87 wrote: »

I have a CCJ which is over three years old for £236 which was paid off immediately.

A CCJ tells a lender much about a potential borrower. Approach a broker that specialises in adverse credit. As they'll know who might lend.

kingstreet

90% with a visible default, judgment and recent late payments is going to be very, very difficult.

Stop paying Experian for that daft number. You're one point off "perfect" and are unlikely to get a mortgage, so it does nothing for you.

Order your other two statutory files and put them in front of a good independent or whole market broker;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Ask friends and relatives for a recommendation. Failing that, use https://www.unbiased.co.uk remembering to switch off "sponsored ads only" option so you get a full list, not just the paid-for adverts.

Dave_Ham

As Kings. says, get your 3 credit files to a decent broker.

I think it is incredibly unlikely you will achieve a mortgage with 10% deposit. If you can get to a 15% deposit it is likely to be a game changer and subject to other variables, this should be achievable.

Lenders do not really read the notes on the credit files.

All the best

officepunk87

with the CCJ, as it is over three years old and less than £250 id have a few options. ( I've spoken to brokers) but the recent issue was unexpected as I thought it was resolved and never thought it would be an issue.

sorry the CCJ was "settled" straight away after judgement.

plan was to get the mortgage now to take advantage of low prices and move for work as this would also save me £200 a month on commute. Then move mortgage in 3 or 5 years time

leereni

Good luck with trying to get a mortgage with the above.

You're not alne in this boat. Best thing is to do what was said above. Get your head down for the short term at least until the CCJ pops off your file, build a bigger deposit in the meantime and then look to buy then.

It's difficult but be patient and it'll be worth it.

_Andy_

Eh? In one post you say you're 'stuck' and want advice, in another you state you've already seen a broker and have options.

Thrugelmir

officepunk87 wrote: »

sorry the CCJ was "settled" straight away after judgement.

To even get to this point is a serious matter. A CCJ is only issued when the judge is satisfied all other avenues are exhausted. So settlement straight away has little bearing.

officepunk87

with "just" a CCJ I have mortgage options.

Foolishly I got the CCJ arguing with severn trent over a bill, obviously if I'd have known then what I know now rather than be arrogant and stubborn I've have paid up and then tried to claim back what I believed they over charged.

I think that the general consensus of advice to wait and save a bigger deposit is the way I'm going to go, at least give it a year and look where I am.

opinions4u

You have a CCJ and a default.

And somebody tells you that your credit score is "excellent".

You should take them to court for misrepresentation. At the very least your credit history is flawed. Not in a million years is it "excellent".