Late Credit Payments HTB Mortgage

johnpgreenan

Hi,

Any advice grateful from experts.

Had a joint mortgage for 9 years, sold the house and are now renting. No debt or loans for the last 6 years.

Went for a new build HTB EL, got a broker and was rejected by the Leeds Building Society for credit score. Checked this through equifax and was horrified that my wife was caught out through 2 mail order catalogues and had a total of 16 late payments marked between them both.

I am assuming that there is not much point in pursuing another mortgage application?

Thanks

kingstreet

On which version(s) of her credit file are these issues visible?

If you haven't obtained the other two, do so immediately;-

https://www.noddle.co.uk

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

Do not sign up for "credit scores" as these are meaningless. The statutory credit file is what you need.

If one of her files is clean, you may have an option with a lender which takes information from that CRA alone.

amnblog

There are probably some options for you.

Clearly LBS is not one of them.

What has your broker suggested?

johnpgreenan

I have checked Noddle and they show there, but not experian yet (I will get her to do this).

Broker suggested Halifax, but he couldn't apply because we are not FTB, only letting homemovers apply direct.

Spoke with a branch manager at Bank of Scotland (HBOS as no Halifax branches where I stay in Scotland) today and explained the situation and I got an appointment with them next week.
I also spoke to Barclays because I previously had a mortgage with them for 9 years and the adviser pretty much implied that I shouldn't bother applying, but set up a telephone application for next week anyway.

amnblog

How long ago were these late payments?

Are they on there in error?

Can you get them removed?

johnpgreenan

The late payments were between 6 months ago and 5 years. A couple a year.

Not to give a big story here, but contacted both companies concerned and they wont remove them.
All I have managed to do is get credit note on Equifax to explain what circumstances around late payments which is in part my wife's fault for paying them off too near the end off the month, causing a processing lag if the end of month fell on a weekend.

amnblog

The most common issues on credit files come from mail order accounts and pay monthly phone accounts.

Mortgage_Mark_2

You're going to struggle with Help to Buy with that many missed payments full stop. Would probably suggest a new broker, it would worry me that he had taken the 'suck it and see' approach and had not already looked at your credit files?

amnblog

I got a dirty one through on H2B EL with a mainstream lender this month.

That one had sizeable defaults, but the timing on the file issues on this case could be the limiting factor.

johnpgreenan

Mortgage_Mark wrote: »

You're going to struggle with Help to Buy with that many missed payments full stop. Would probably suggest a new broker, it would worry me that he had taken the 'suck it and see' approach and had not already looked at your credit files?

Yes, I have learned the hard way.

I can but try now.