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Enhanced Consumer Indebtedness Index

rachael125
rachael125 Posts: 4 Newbie
in Mortgages & endowments
My Partners son applied for a mortgage today and it came back decline with the code ECll ( Enhanced Consumer Indebtedness Index).

So far all ive managed to grasp is its an experian thing which all banks are now following. He has paid all his debts recently so is debt free.

Any suggestions on what this is and what the next step can be??

Comments

  • kingstreet
    kingstreet Posts: 39,338 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How long ago did he clear the credit?

    Has the system had a chance to update?

    If the lender picked it up form the credit search because it is still visible, he should have disclosed it and said it would be repaid before completion.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    rachael125 wrote: »
    He has paid all his debts recently so is debt free.

    Did he win the lottery?

    Lenders will be naturally cautious of a sudden change in circumstances. As this may only be of a temporary nature.
  • rachael125
    rachael125 Posts: 4 Newbie
    my partner had a saving policy for 15 years, which expired in february so the money was used to pay his debts off.
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