Mortgage DIP/AIP Halifax but late payments on credit file - continue with full app?

gtilb25

Hi I'm hoping someone can help me with this.


I have put an offer in on a property which has been accepted. My mortgage broker has got me a Decision In Principle with Halifax for more than the amount of mortgage I need.


I am now ready to continue with a full application although I have checked my Experian credit file and I have the following bad points on there:


1) Natwest recorded a 4 and then a 5 against me on my current account within 13-24 months ago although this is a mistake. Firstly it was all zeros leading up to the 4 and I don't have to make payments on my current account anyway? Natwest are looking into this for and I'm hoping this information will be removed altogether as its a mistake but that will take weeks to resolve.


2) I have a number of late payments recorded on a credit agreement - a few ones then a 2 and then a 3. Its showing at 3 at the moment although I have now settled the agreement in full and I'm waiting for Experian to update which I think will happen around the 12th Feb.


In addition to the above, my Equifax report is terrible and shows a £29.00 settled default and £829 owing to Virgin Mobile with lots of 6's recorded over the last few months. This relates to a mobile phone which my ex partner had which was in my name - I now take it he stopped paying the bill a while ago and I now need to sort that out!!


I would have thought Halifax have already conducted some sort of credit search (even if its soft) to give me the DIP? If I progress with a full application is it likely to be approved or will they see all of the info on Equifax too??


Hope someone can help me ASAP.


Thanks :-)

CherlokHomes

Full credit search for a mortgage may well in many cases will check Equifax as well as Experian so you'll really need to sort this ASAP as you've suggested.

Your late payments will go against you by what degree I don't know.

IMHO I think there's a chance Halifax might reject your App.

tinkerbell28

Halifax do soft searches. So it's not a great predictor. I think you will be declined.

Your credit history sounds abysmal.

Then....

The phone...there is nothing to sort. You owe that money. If the contract is in your name, it's your responsibility to make sure the bill is paid and settled each month,

Doesn't matter if you took it out for him and he's supposed to pay it. If he doesn't no skin off his nose. You'll be the one who has defaulted on the agreement by not paying it. Any personal agreement for monies owed between yourselves would require a small claim court to sort. The agreement for the mobile provider is with you and it hasn't been paid, so they won't amend the file.

Going to be lesson learnt the hard way I think.

gtilb25

Thanks for your replies.


I've seen from information online that Nationwide only use Experian - I'm not sure how up to date this information is? But once Natwest remove the 4 and 5 I'm only left with a few late payments on an account which is now settled so should I maybe try Nationwide instead?

tinkerbell28

gtilb25 wrote: »

Thanks for your replies.


I've seen from information online that Nationwide only use Experian - I'm not sure how up to date this information is? But once Natwest remove the 4 and 5 I'm only left with a few late payments on an account which is now settled so should I maybe try Nationwide instead?

I would be off to a broker and expecting and news tbh. As with your "history" a lender is going to be more stringent and will more than likely search all three agencies despite standard policy.

gtilb25

Tinkerbell28 are you a mortgage broker/expert or is this just your opinion as a consumer?

tinkerbell28

gtilb25 wrote: »

Tinkerbell28 are you a mortgage broker/expert or is this just your opinion as a consumer?

It's as a consumer. You should post on the mortgage boards. I'm sorry it's not what you want to hear.

With you credit files the way they are a broker is definitely the way forward.

Thrugelmir

gtilb25 wrote: »

£829 owing to Virgin Mobile with lots of 6's recorded over the last few months. This relates to a mobile phone which my ex partner had which was in my name - I now take it he stopped paying the bill a while ago and I now need to sort that out!!

Almost certain decline from mainstream mortgage lenders with that on file.

tinkerbell28

Thrugelmir wrote: »

Almost certain decline from mainstream mortgage lenders with that on file.

Well yes, there is also the fact that this account is....


2) I have a number of late payments recorded on a credit agreement - a few ones then a 2 and then a 3. Its showing at 3 at the moment although I have now settled the agreement in full and I'm waiting for Experian to update which I think will happen around the 12th Feb.

A provident loan:eek: Op provident are subprime lenders, they are pretty much looked at as the same ilk as payday lenders, which mortgage companies don't like recent loans, let alone ones with bad payment history. It's easy to see because you only have 6 posts. So no checking involved, but this will impact your chances also of a full application going through.

Then the phone....I really think you'll struggle. Sorry.

gtilb25

Thanks for taking the time to reply to my post tinkerbell28 and for taking the time to read through my other posts!

Perhaps you haven't realised that the Natwest info is incorrect and to be removed and I'm disputing the late payments with Provident (the lender looked upon with the same 'ilk' as payday loan companies) due to the nature of the arrears. Once rectified my Experian profile is completely clean.

I accept that the Virgin mobile issue on Equifax is not reversible and will have to be 'a lesson learnt the hard way'. But after separating from my partner of 15 years and having four children to look after cancelling his mobile phone contract slipped my mind.

I'm afraid I have found your comments a little judgemental and patronising. Especially the 'your credit history sounds abysmal' part. You are not aware of my personal circumstances or the reason why I may have had an urgent need to turn to a company like Provident in the first place although I admit that was a mistake and one I will not make again. I have minimal debt and make all of my payments on time.

I hope that with some info corrected and perseverance I will eventually be able to secure a mortgage offer for my family, if not now then sooner rather than later. I'm just glad you're not an underwriter lol! :-)

tinkerbell28

I'm sorry I didn't tell you what you wanted to hear.

Life doesn't work like that.

If you had an "urgent need" to turn to a company like provident. An underwriter will see it as lack of savings, contingency fund. Why did you have to go to a subprime, high APR lender? They won't care for the reason. Just the facts and data from your report. It's not a great risk for them.

The natwest arrears is a mistake I get that. But the provident loan, it's settled but still marked with late payments. You don't know they will remove that yet. They dispute your side of the story.

Reading your other post, I don't think you will get it removed either. In my opinion. For a couple of payments you started paying by card as the collector did not turn up. He said he did, you say he didn't. But rather than continue paying by card over the phone so they got the account payments on time, protecting yourself. Which you should have done, you stopped paying altogether.

The account will still show regardless and a provident loan is NOT a good thing to have on your file, so recently.

That IS how it will be viewed. Especially with the phone, the provident loan being in the red.

I wouldn't use the word perseverance either, don't keep applying. Like I said in my first post, you'll need a VERY good broker. Even then it maybe you need time.

I think on MSE sometimes people say things, you don't want to listen too. Which is kind of why I like it really. It would be badly suited to a mumsnet hugs, hun site.