Finance declined ?

Runnybabbit

Hello All

Wonder if anyone can enlighten me please ? Background info as follows :

17 yr old DD passed her driving test :j - she has a permanent job and earns a good wage. Since she is 17 she cannot apply for credit so we are doing this on her behalf and she will pay us back on a monthly basis. She's good with money so I know there will be no problem paying this back.

We have moved house twice in the past 12 months. We sold the family home 12 months ago, (after living there for 14 yrs) and currently renting until we find the house we want to buy.

Last November DH applied for credit on my new car (as I was taking a work break due to poor health). Finance approved so no worries there.

DH applied for credit on DD car yesterday which has been declined.

I now have a permanent full time job, so credit is better than before (as he will be linked with me).

When he applied for finance for DD car, he omitted the previous address where we had lived for 6 months, and had used the 14 yr address instead.

Question :

1. Because DH had omitted the 6 month previous address, would this be a reason to decline finance ?

2. What now happens to his credit rating ?

3. Will the finance company run another check to include the 6 month previous address, is this likely to be declined again and will this leave a 2nd footprint on his credit file ?

We are worried about this as we may be needing a mortgage offer soon and DD needs her car to progress with her job.

Many thanks for all your help

happy_bunny_2

Have you checked DH credit report?

On electoral role?

Worth a look to see if anything out of place. Yours also if you have joint financial products.

Runnybabbit

happy_bunny wrote: »

Have you checked DH credit report?

On electoral role?

Worth a look to see if anything out of place. Yours also if you have joint financial products.

Would anything be linked to new address here ? We've had some official looking letters for people that lived here before.

Shouldn't be anything untoward on credit file as finance was approved last November for my car, and all bills/rent/credit cards paid on time.

Electoral role - maybe something to do with that ?

happy_bunny_2

People have credit reports, not addresses. So that should be fine.

May be electoral role.

Suggest you both check your reports. Sometimes things get put on there that are not correct also.

Noddle is free and quick to sign up to, usually.

Runnybabbit

happy_bunny wrote: »

People have credit reports, not addresses. So that should be fine.

May be electoral role.

Suggest you both check your reports. Sometimes things get put on there that are not correct also.

Noddle is free and quick to sign up to, usually.

Will double check reports :-)

Providing that credit scores are ok, would the declined footprint on his credit file be a big issue ? and would he be ok having his file searched again ?

happy_bunny_2

Too many searches in a short time don't look good, as they think you might be desperate for credit.

No expert here, maybe ask that on credit file and ratings board.

If they decline you for credit based on something on our report, I think they are supposed to tell you that. Maybe ask for advice on that too on the other board.

Runnybabbit

Not sure if this is the right thing to do but, will post this thread again on the other board - thanks for your help happy bunny :-D