Mortgage submission stopped over £19 VODAFONE payment 😞 help! - NOW SORTED!!

adamck

Will the application be ok once the Default is marked as settled with Vodafone??

Do you think Vodafone can remove the default? or will they just mark it settled?

Im worried about the time this all takes... i would shave settled this years ago if it had shown on my credit report but it didn't show anything other than Excellent

kingstreet

It may pass once the default is satisfied, but I have my doubts.

Only the creditor can tell you if it intends to remove the default.

It will fall off your credit file six years from the date it was registered and that may be the point your chances of 95% improve.

Even with HTB - MG, lenders don't want to take on what they will view as risky lending, with the increased risk of repossession and the possibility of having to actually use the Government guarantee.

Farside

adamck wrote: »

But can i appeal this with the lender.
Surely I'm not suddenly a huge risk due to something that is quite obviously a mistake.
I know a default looks bad, but the account is now settles and is the only payment that i have ever missed in my entire life.
All previous payments on that and every other account are in the green and always have been.
I don't believe that your entire credit future and chances of a mortgage can be stopped due to such a small thing?

Yes i'd appeal if i were you, what do you have to lose? when i appealed, my DIP was then accepted after the underwriter went through my credit and info. Although i'm with a different bank / BS to you.

Leon_W

I know it's all a bit late now, but why, especially as a first time buyer and looking for 95% LTV, did you not get your finances sorted out first ?

adamck

I did an Experian report a while back, if you read my posts you will see...
My credit score was 'Excellent' with no alerts or warnings.
It was still Excellent last week... but after a call to Experian, they realised my previous, previous, previous address wasn't listed up, which meant the Default wasn't shown.
I didn't have any letters from Vodafone OR my bank or any debt collectors etc...
So i was non the wiser that i had anything wrong.
I wouldn't go looking for an issue that i didn't know existed

kingstreet

So, you used a lender which uses Equifax.

What does the Equifax version of your credit file show?

adamck

I have spoken to Vodafone to plead with them over all this, they have asked me to email the quality assurance team explaining the error and my position.
I just hope they understand and remove the Default for me.
I don't wish to go signing up to every credit company to find out what their report says... as soon as i can get this removed/settled the better i guess.
I wouldn't begin to know how to find out what credit system each lender uses, onto of that i don't think i have many choices of lenders who will lend 95% LTV that aren't the top few banks.
I have already had my offer accepted on the house and the seller has removed it from the market etc... if this doesn't get sorted in the next 2 weeks i can kiss goodbye to the house and any chanced of getting a mortgage before next year or longer.
I guess it doesn't matter how careful you are... something always comes and bites you in the !!!.
And to think I've never had a loan or a credit card in my life (and yes i do have many other things that count towards my credit score and i do otherwise have a great credit score).
:(:(

kingstreet

The £2 versions of your credit file are a good investment, unlike the "scores" peddled as part of subscription packages which are "indicative" at best. You have to "sign up" to nothing and the CRAs supply your file with no search footprint left on your history.

Each lender supplies information to and takes information from one, possibly two of the CRAs and finding out which ones use which can gain you an advantage.

I understand your reluctance to do that, but mistaking what the CRAs sell you as a credit score and what lenders use (their own scorecard created from the raw data you supply and the CRA basic account data) is a fundamental error on here.

Search for the "999 and declined" threads on here and you'll see what I mean...

align700

If Worse comes to the Worse try Aldermore Bank they do FTB loans up to 100% we did full application on a tuesday and then had offer in our hands by the following friday, they move very fast and don`t mind old defaults very good company
Aldermore
Aldermore

leccyblue

align700 wrote: »

If Worse comes to the Worse try Aldermore Bank they do FTB loans up to 100% we did full application on a tuesday and then had offer in our hands by the following friday, they move very fast and don`t mind old defaults very good company
Aldermore
Aldermore

It's worth pointing out that Aldermore require a guarantor on their 100% LTV mortgages from a family member.

http://www.aldermore.co.uk/personal/mortgages/our-mortgages/first-time-buyers/