mortgage help/credit issue

newbury01

Hello

After a long ongoing battle with Natwest i have paid my credit card payment plan - I missed 3 payments a few years ago and was placed on a plan. This is now settled but the plan is saying i have missed 12 payments in the last year which is incorrect, as i paid ontime every month, im still waiting for an explanation why these are showing as late.

Me and my girlfriend both on 20k a year and we have saved 15k in savings, we are looking to borrow around £115k.
On experian im just below good on around 840 and my girlfriend has never had any credit apart from mobile phone.

I have been refused from RBS as they dont allow the agreement, i have a broker currently speaking with Skipton for a more personal approach -would any lenders in your opinion lend to me,when i have only just settled this plan, and could you make any suggestions?
I know its my own fault and may have to wait quite a few years to rectify this, i would like to know the prospects being accepted? adverse lenders? and how long do you think at most we would have to wait before being accepted?

thanks joe

kingstreet

Is this payment arrangement visible on all three of your credit files?

As RBS & NatWest are one and the same, I would have advised you against approaching them and wasting a credit search, if one was done. Lenders subscribe to the "once bitten, twice shy" school of lending.

As you are looking for 90% with a recent credit problem, the answer to my opening question will determine if you have any options.

ACG

RBS/Natwest are the same company, its not surprising they wont offer you a mortgage.

I like Skipton, i send a fair bit their way.
If you have a broker on this i would give them the benefit of the doubt. If they are using Skipton for the reason i think they are then you are probably in safe hands.

I would say if this cant be placed with Skipton then you may well struggle unless you use a smaller building society who price their rates on risk - in which case you might need to up your deposit to 20% and would be on a higher rate.

Im assuming these late payments in the last 12 months?

The reason they are showing btw (i think) is because you did not keep to the original terms, they had to set up special reduced terms for you by the sounds of it - which means you were technically paying late based on the original agreement. This should have been explained to you before you took the new agreement on so you were aware of the consequences but im not so sure they will remove it.

newbury01

thanks,

I have only tried experian, and this shows as 'agreement' should i try all CFA?

What happened is that i missed 3 payments and i called up to make payments upto date, the hander advised i had defaulted?
8 months later i received a statement so i called back and the handler advised my account only just defaulted, i was upset and asked manager to listen to my prev calls.
They admitted i was told incorrect infomation and then i thought i would have been put same postion as before but agreed to go onto a plan so they could investigate this. They removed the default but the plan remained. I have spent so much time with natwest and now i still do not know why these late payments are showing...i understand it could be a number of reasons...my old agreeement, i could be 1 payment behind, or could just be how the plan works? i called just before i paid this all off and card serices confirmed i was upto date?

I really do not know, i understand its my inital fault but think i have been given so many diff stories and no straight answers!
I have proof in writting this default was removed, and also evidence i have not missed payments on my plan... the resason why did not pay off sooner because i have been complaining to natwest?

thanks joe

newbury01

Yes i paid off the balance which was £740.00 earlier this week
so my recent experian will show
12 payments missed in the last 12 months
1 account overdue?

next month this will update and it will show as settled i think

Dave_Ham

Definitely worth getting all 3 credit files.

As I understand it then, you have no defaults on Experian and exactly what numbers are showing?

Is it a 1 each month, or a 12345678888 or something different?

When was this settled exactly please?

newbury01

on my credit file it says arrangement date from
and for the last 18-24 every payment just says 1-1-1-1-1-1-1-1-1-1

i paid off the full balance yesterday and paid extra to cover the interest, i went into the branch as a last report and showed them my credit file and they were confused as well, they said they will look into this and why there showing as late.
i understand the plan will remain but if the file was updated and showed i have not missed payments this should put me in better lights???

Dave_Ham

When this shows as settled, I think you may have good options outside of Skipton (in case they say no)

All the best

newbury01

Dave_Ham wrote: »

When this shows as settled, I think you may have good options outside of Skipton (in case they say no)

All the best

could you advise any lenders which i could approach?
thanks again