Mortgage declined why ?

bcfclee27

Going through a broker for the mortgage on new house and best rate was nationwide so went with them. However the application wasn't accepted or declined but referred. My broker suggested this was due to a marker on credit rating from an old account that my wife or I was linked to ie an ex partner joint account.
My wife and I are ok with money in that we never missed payments etc.

The application was declined for this above reason and the fact that my wife lives in her overdraft. Although nationwide would not tell my broker exactly why the application was refused and just because of some marker ?

We have had a mortgage accepted through Halifax but the amount is slightly more than the nationwide one which is a shame.

My question is should we get a credit report and if so who with and how do you go about it.
Secondly should we reduce or pay off wife's overdraft or concentrate on overpaying the mortgage.

Many thanks

kingstreet

Anyone considering a mortgage should obtain all three versions of their credit file and do the due diligence before they are declined for something like this;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

The £2 paper copies are fine and do not fork out for the CRA so-called credit scores.

bcfclee27

Sorry for the confusion but should we get one from each of the above or just one go the above ?

kingstreet

All of them.

The information on each may well be different.

Some lenders use only one. You need to know what's on each, so you know which lenders to approach and which to avoid.

chanz4

plus callcredit is likely to have out of date info / incorrect. go via noddle.co.uk though as its free

kingstreet

Noddle is the online arm of Call Credit, so the information on your paper-based statutory credit file from Call Credit and online version from Noddle, should be exactly the same.

bcfclee27

kingstreet wrote: »

Noddle is the online arm of Call Credit, so the information on your paper-based statutory credit file from Call Credit and online version from Noddle, should be exactly the same.

Just used noddle I scored 3/5 and my wife scored 4/5.
So not really sure why mortgage with nationwide was declined as they seem decent scores ??
Should I try experian and see if that sheds any light ?

Also I am linked on their to a mate I used to rent a place with when we shared an account for bills. How can I get rid of this link or is this not possible ?

GMS

bcfclee27 wrote: »

Just used noddle I scored 3/5 and my wife scored 4/5.
So not really sure why mortgage with nationwide was declined as they seem decent scores ??
Should I try experian and see if that sheds any light ?

Also I am linked on their to a mate I used to rent a place with when we shared an account for bills. How can I get rid of this link or is this not possible ?

Ignore the score, look at the data. There must be something going on to not get a 5.

Are there missed payments, defaults, CCJ's etc?

FTB_Doll

See on Experian and Equifax I am excellent and on noodle Im a 1/5. The scores are irrelevent look at the report at the linked accounts are there any red marks x

bcfclee27

GMS wrote: »

Ignore the score, look at the data. There must be something going on to not get a 5.

Are there missed payments, defaults, CCJ's etc?

Nothing that stands out where will it tell me ?

It says no cifas, no bankruptcies or insolvencies and no judgements.

Confused as it doesn't say why I'm at a 3 ?

On experian it shows my credit score as excellent scoring nearly the maximum !!!

GMS

Look at the monthly reports for each account. Any late payments etc will be there.

If you are unsure get the reports to a broker and see what they think