Mortgage declined!!

TheChar

Yes I have all 3 as I wanted to make sure of that. The only issue seems to be the entry for my dad showing on Equifax. Even the bank were surprised at the decline based on all the information I had given. They couldn't give a reason why though as the system didn't tell them. I'm so frustrated.

JSR

It may well be the high balance to limit on the card as suggested, especially as it's your only proper credit account. You will never get RBS or anybody to reveal how they score you so unless there's an insider on here you'll never know definitively. I would suggest clearing the balance before trying again.

dazanteney4

I applied for the same thing with RBS sister company halifax and got declined for no reason. I complained and the response i got was "both us and BOE of being really strict on the lending criteria". Its only something like the top 3 bands out of 16 based on credit scoring that they will offer the loans to. By the sounds of it you had the same issue as me.

My Advice, chin up speak to your bank if you don't bank with RBS and try again after Jan when more company's join the scheme. Yorkshire bank do a 95% scheme with a rate around 5.2% but its not on help to buy, this might be an option for you.

kingstreet

dazanteney4 wrote: »

I applied for the same thing with RBS sister company halifax and got declined for no reason.

RBS, Ulster Bank and NatWest are same group.

Lloyds, Halifax and Bank of Scotland are same group.

Not RBS and Halifax.

Thrugelmir

Who was the loan with that you defaulted on? Was this in anyway connected with RBS.

dazanteney4

kingstreet wrote: »

RBS, Ulster Bank and NatWest are same group.

Lloyds, Halifax and Bank of Scotland are same group.

Not RBS and Halifax.

Sorry managed to get my self confused on HBOS

TheChar

Thrugelmir wrote: »

Who was the loan with that you defaulted on? Was this in anyway connected with RBS.

The one I mentioned in another thread? It was with Welcome Finance some years ago. I don't think this is connected to RBS in any way.

I have also noticed my HSBC bank account is now shown on there as settled. My account with them was opened many years ago and not reported to the agencies. Can they add this now I've paid and closed it?

drdpj

Settled with no other adverse markers on the account just means it's been closed. All my old mobile contracts and an old credit card show as settled on my credit report.

d.

drdpj

Hmmmm...

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5029194/RBS-faces-500m-loss-on-Cattles.html

Is that enough connection for RBS to have a view of Welcome's loan book?

TheChar

drdpj wrote: »

Hmmmm...

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5029194/RBS-faces-500m-loss-on-Cattles.html

Is that enough connection for RBS to have a view of Welcome's loan book?

Ah very interesting... So me thinks this could be the issue perhaps? My only problem now is the search on my file. I'm at a loss to who I can go to now who won't look at two applications as a bad thing.

I had one with Barclays but didn't take that further as they weren't in the help to buy scheme and now this one. Ah this is so stressful!