Natwest - Equifax or Experian?

ExpertAdvice

Hi Everyone,

I applied for mortgage for a client with Halifax. It was declined due to insufficient information from Experian Report. He sent me his Experian Report and it shows no active credit commitments such as his Mobile phone contract, credit card (pays in full every month - approx £1,500 per month), credit with shop direct for furniture and couple more.

However, all these appear on the Equifax report. I'm going to speak to Halifax and my BDM on monday.

Just wondering if anyone has encountered such problem.

Also, does anyone know if Natwest uses Equifax or Experian?

Thanks

Thrugelmir

Are you registered on the electoral roll and have been for a number of consecutive years?

ExpertAdvice

Hi,

Its actually my client. Yes, hes been on electoral roll for last 3 years at his current address and 1 year at previous address. However, I've noticed that his address on the Experian Report is different than what Halifax use on their system since he lives in a flat. I've checked with Experian and they have said that the address matches the Electroral Roll register so it has to be correct. When I enter the address manually in the Halifax application, it gives error that insufficient information from Experian and declines the application.

Any idea about Natwest?

Thanks

Thrugelmir

All main lenders who are members of the CML use Experian in some form .

GillianY1

Pretty sure Natwest will use Equifax as I recently applied with RBS and they used Equifax.

kingstreet

NatWest is Equifax only.

http://www.whichcreditreport.co.uk/credit-report-lenders-use.html

WellKnownSid

+1. We are nowhere on Experian ('fair score') and completed with Natwest yesterday.

For some reason Experian can only confirm our address and our existence on the electoral role - it says we haven't got any credit accounts or credit history, yet we turnover £40k per annum on our Barclaycards alone (always paid off in full each month for the last 25 years), have a residential mortgage, unused free overdraft facilities, etc, etc.

kingstreet

Each version of your credit file will reflect which lenders/banks supply information to that particular CRA.

You find a lender takes information from the CRA it supplies to.

ExpertAdvice

Thanks everyone. Just spoke to Experian and they can see that there are no records for the current address. The guy on the phone was very helpful and logged in all the missing info. He said that someone would be contacting me.

Any ideas what the procedure is and how long would it take to update the experian report with all my current contracts and credit arrangements? Is it worth waiting for them or just go with another lender as I don't want to lose the property?

kingstreet

I'm surprised. In my experience, Experian will only deal with a customer's issues directly with them.

I suspect it will be about a month before a lender search reflects the changes which are made now.

witchy1066

we have had same problem with Experian, for some reason as far as they were concerned my partner did not exist , according to them he had no credit history at all (he has a CC and has had for 16 years) he is not on the electrol register (he is and has been for the last 16 years )

the other 2 CRA company's are all up to date and correct

Good luck OP in getting Experian to update , its taken us nearly 2 years and they still insist my partner isn't on the electrol register

If you ring your local council and tell them the situation they will send you a letter stating that you are registered,

I find it really strange because if you type our names into a google search they come up as being registered at this address for 16 years yet Experian for some unknown reason can not find this info

sorry OP didn't mean to hog your post but hope our experience might be of some help