Natwest and credit rating agencies

Firsttimebuyer101_2

Hello there

Myself and partner are looking to apply for a mortgage mid-next year as part of Help to Buy - so a 5% deposit of our own. We are aiming for a property between £250-300k.

I have been checking my credit files and Natwest are not sharing my current account with the agencies (it was opened in 2001). Is there any way I can force them to share this information? If not will this effect us adversely? I have had an overdraft with them on this account for some time and at one stage had a £2k balance which has was paid off 3 years ago - I would think good evidence of my ability to handle credit.

I did have another account and overdraft with Natwest but I closed it 6 months ago as I had not used it for 4ish years. At the same time I also closed 3 credit cards whilst opening 2 new ones to keep a 'continuing' credit profile.

Other than these, the only other active credit relationships I have are mobile phone and cable TV.

I think it is important I get to show my current Natwest relationship given the length of time it encompasses. Given I have closed my other credit cards (some of which were 5-7 year relationships) I do not have any 'active' credit relationships more than a year old (although the old ones are still showing and will for another 4.5ish years).

Anyone have any thoughts as to my acceptability for such a mortgage based on info above?

Many thanks!

kingstreet

No, you can't force them to display it.

No, it is unlikely to make a difference.

Using your credit cards wisely and making sure you pay everything on time is more than enough.

witchy1066

we had a same thing with RBS , according to our credit report we didn't exist ,our account was opened in 1998 , no record of our account or credit card,

after months of trying to find what was going on , we found out that when we opened our accounts in the good old days , no such thing as credit reference agency's , our information was not released to anyone without or permission, they simply sent us a form to sign, with the credit card we had to ring them many times before we spoke to someone that actually knew what the problem was , same thing as the bank account , they said it would take a couple of months to show on credit report but is now sorted

from what I understand ,its to do with the length of time you have had the account,

I am not very good at explaining but hope this helps

kingstreet

Lenders can release information to third parties, if they choose to. Some choose not to, unless the account falls into arrears.

melj16

must be down to how old the account is.

I have a current account with Natwest and I do not have an overdraft at all, yet they report to my credit file. i thought this was strange....but apparantly they can do it. Fair enough if I even had an agreed overdraft of £100, but it is zero.