Anyone want to join me? Awaiting Mortgage decision...

AllyT90

DECLINED by Bank of Ireland UK! Totally devastated!
They said it was something on my credit report but couldnt tell me what it was!
How am i supposed to fix it if I dont know what the problem is??

Such a kick in the teeth.
Went direct to Bank of Ireland UK, have since had a meeting with a broker so has said he reckon halifax will consider me.
Just concerned as I dont know what the problem with my credit rating is so Halifax surely are going to see the same thing as Bank of Ireland, but apparently Halifax are known to be more flexible.
Does anyone know if thats true?

God I really hate this mortgage stuff lol and just started a new job in the middle of it, my first lecturing job. As if that wasnt nerve wrecking enough!!

Thefutureisbright

Have you checked you're report? Everything should be visible on there so you can see where the issue is. If there's nothing on there the surely you should be able to provide the Bank with a copy of it as evidence?

AllyT90

Yes I have been checking my credit report regularly on experian.
My score wasnt great due to an o2 default, which is due to be removed in the next few days as it was a mistake. I even have an official letter from o2 stating it was their mistake and that the default will be removed in up to 72 hours.
I had told the lady in Bank of Ireland about this and she said that it wouldnt matter as they dont take phone contracts into consideration.
Theres nothing else negative showing on my credit report.
Im completely baffled!
Hopefully going through a broker will help, but now my score is even lower due to Bank of Irelands credit search!

Thefutureisbright

I know the feeling...I've recently had 2 applications declined :-(
I may be wrong but I don't think changes can be made to your credit report in 72 hours as lenders/creditors only pass on information every 4-6 weeks, or so it says on Experian.

AllyT90

Yes I had read that on the Experian website as well but when I researched it a bit more, I read that if a company specifically requested information to be removed on an individual basis then your report can be updated up to several times a day.
Im praying that its true because the broker Im dealing with wants to wait til the default is gone before submitting a mortgage application to halifax for me.
Such a dragged out process!:eek:

Did you manage to get a mortgage ok after being declined twice?

Thefutureisbright

I'm in the process of sorting out my 3rd application today...I've had such a nightmare.


We've sold our house, had our offer accepted on another and 2 DiP's and 2 declined applications...I'm a nervous wreck right now!


All of the blips (3 of them) on my report are due to fall off between April-November this year but they've really been a burden to me...all totalling £600 so not even huge debt!


I'm trying to remain optimistic though *she says through gritted teeth*...

AllyT90

Aw thats sucks for you.
Im a first time buyer so Ive no chain but that must be awful when you have so much hinging on it.
Does the buyer of your current house want to move in ASAP? or are they happy to wait?

Im sure your nerves are shot at this stage.
Im hoping my new job keeps me occupied more so Im not thinking about it as much.

Its bad enough waiting once you`ve put your application in but now im sitting about waiting on the bloody default to drop off before I can even submit another application.
A default that wasnt even my fault, o2s mistake.
Anyway, the only other thing on my credit file is late payments on a Bank of Ireland account, which was because vodafone tried to take a direct debit out of an old account which i no longer use and then Bank of Ireland charged me for it. I have since closed the account but it hasnt dropped off my file yet, and again Bank of Ireland said this wasnt the reason.
Felt like saying "THEN WHAT THE HELL IS THE REASON???!!"
They tell you its something on your credit report and thats it??
Surely theyre obliged to give you more info than that??

Dutsey

I am currently waiting for our mortgage decision with the Halifax. We are using the help to buy scheme on a new build. Our MA has advised that this should be go smoothly.

I am so anxious lol just cant stand the not knowing.

Timeline:

06/02 - Got AIP with Halifax
11/02 - Reserved House
17/02 - Requested ATP
22/02 - ATP Accepted
28/02 - Mortgage Broker applied for Mortgage

Thefutureisbright

We're not prepared to make our buyer wait any longer so they're looking at moving in end of May, and the sale is going smoothly, so we're not going to jeopardise that. We'll be out of our house by the end of May, hopefully into our new one if all goes ok with this application. If it doesn't, then we'll have to look at either moving in with family or renting for a few months...obviously I really DO NOT want to do either and the thought of it makes me shudder, but if need must, then that's what we'll have to do.


I don't think they have to give a specific reason as to what's showing on your report due to data protection and you should be able to see it on your report (they won't tell the bank exact reasons) and I don't think you can actually speak to the underwriters...it's a vicious cycle to be stuck in!


I would probably stick with the Broker and get them to find someone who will accept you because I don't think you're in that bad of a situation at all.

orangesmartie

orangesmartie wrote: »

Still waiting Emailed my broker to see if there is any sort of indication of timescale. No response yet. I'm too impatient for this!

Apparently broker chased yesterday and there had been some queries on proof of deposit. She expects things to move forward in a day or two. Really I'm none the wiser. No searches recorded on either credit report as yet