Obtaining Credit

Rekusu

Hi there,

Have just received the latest MSE e-mail with the main feature being boosting your credit score.

My wife recently applied for a new account with Santander and has been refused twice, even though she got a score of 986, right up there in the 'pretty darned good' rating. No explanation of course, but not being on the electoral registrar list (ERL) may have been the whammy.

We have applied a Notice of Correction with both main CRAs, so may be next time will be better. But here is the thing; only UK nationals, members of the Commonwealth and a couple of other obscure cases can be on the electoral list. You are only on it if you are eligible to vote; not eligible, not on the list.

Given that the UK population is increasing through immigration, there must be a lot of people, not eligible to vote, therefore not on the ERL, who do manage to get credit and/or bank account. How come? Is this section of the population living in a cash only world?

Just a thought!

Rekusu

CherlokHomes

Well I'm not sure what a 986 score from Experian has anything to do with your wife being turned down for credit as these numbers are meaningless tripe sold by the CRA that has no bearing on her credit worthiness(ignore scores)

Being on the elec roll will help no end when opening an account.

Herbalus

If you have access to a branch you could drop by and ask them for more information on the decline and explain that not being on the electoral role could have had an impact. Explain why this is impossible at the moment, and take all the documentation you have e.g. passports, utility bills (if in her/joint names), marriage certificate, payslips etc. They may be able to help you.

CherlokHomes

Herbalus wrote: »

If you have access to a branch you could drop by and ask them for more information on the decline and explain that not being on the electoral role could have had an impact. Explain why this is impossible at the moment, and take all the documentation you have e.g. passports, utility bills (if in her/joint names), marriage certificate, payslips etc. They may be able to help you.

Remember bank branches don't employ people with Authority no more so if the application was turned down the branch staff wouldn't even know their next move let alone looking into an application.

Rekusu

She has decided that if Santander don't want her, then she does not want them. She already has accounts with NatWet and FirstDirect, but wanted the Santander 123 for the 3%. We have already tried the 'reasoning with the agent' route and it does not work. Apparently, the application is sent to the XXX dept and they have their own guidelines. When the local branch is informed of the decision, that is it. The local guy says that even he does not know who to talk with! Do you believe that? When she applied, we did of course give passport, Driving License, utility bills, Council Tax and statements from the two banks; hence her score of very close to the top. The interesting thing is that the guy at Satander that she was dealing with is Brazilian and apparantly he is on the ERL as a registered non-voter. When I asked at the ERL office, they told me this is illegal but is probably not the first time. The ERL works on trust and honesty. Anyway, she now has a Notice of Correction on both so hopefully, next time..... Rekusu

CherlokHomes

Rekusu wrote: »

She has decided that if Santander don't want her, then she does not want them. She already has accounts with NatWet and FirstDirect, but wanted the Santander 123 for the 3%. We have already tried the 'reasoning with the agent' route and it does not work. Apparently, the application is sent to the XXX dept and they have their own guidelines. When the local branch is informed of the decision, that is it. The local guy says that even he does not know who to talk with! Do you believe that? When she applied, we did of course give passport, Driving License, utility bills, Council Tax and statements from the two banks; hence her score of very close to the top. The interesting thing is that the guy at Satander that she was dealing with is Brazilian and apparantly he is on the ERL as a registered non-voter. When I asked at the ERL office, they told me this is illegal but is probably not the first time. The ERL works on trust and honesty. Anyway, she now has a Notice of Correction on both so hopefully, next time..... Rekusu

At the end of the day you failed Santander's credit scoring now its time to move on.

Rekusu

I agree and we/she has, but my point was, in today's MSE e-mailed flyer, improve your credit rating by getting on the ERL is not so straightforward, if not impossible, for some people.

Rekusu

The_Boss

!!!!!!, why on Earth could the email not have said "improve how lenders score you"? This is far less misleading than talking about "your" credit score.

dktreesea

My suggestion would be for your wife to go to all of the high street banks and see what they would offer her to switch accounts, including paying in her salary to the new account. For example, an overdraft facility, 0% balance transfer credit card, personal loan at preferential rates, etc.

Tixy

Rekusu wrote: »

But here is the thing; only UK nationals, members of the Commonwealth and a couple of other obscure cases can be on the electoral list. You are only on it if you are eligible to vote; not eligible, not on the list.

This is the criteria for voting in UK parlimentary elections. Far more people are entitled to vote in local elections and therefore be on the electoral roll (e.g. EU citizens living in the UK can be on the electoral roll).

Rekusu wrote: »

Given that the UK population is increasing through immigration, there must be a lot of people, not eligible to vote, therefore not on the ERL, who do manage to get credit and/or bank account. How come? Is this section of the population living in a cash only world?

As above EU citizens are a large proportion of the immigrant population and can be on the electoral roll. Although quite a few lenders tend to specify applicants should have been resident in the UK for at least 3 years.

For others - its possible to get a basic bank account without being on the electoral roll providing you can provide satisfactory proof of your identity so certainly no need to live in cash only.
In terms of non EU / non commnwealth citizens resident in the UK accessing credit then this is certainly harder yes, but there are people who have found it is possible by slowly working towards building up a credit profile even though they are not on the electoral roll.