Credit checks for a mortgage dating back 9 years

dellgirl1979

Hi all,

I am at my wits end and apologies if this is not in right area but I applied for a mortgage with Bank of Ireland last year with my partner and were fully approved, ready to go however the house fell through and we recently found another house so went back to the bank to re-open our mortgage approval as the 3 months that it is valid for was up.

I got a call yesterday saying that an ICB (Irish credit bereau) check was done like prior application but an old credit card debt from 2005 (which was paid off in full) has shown up on my report and that this would more than likely hinder us getting a mortgage.

Can the banks even go back that far, the debt was settled and accounts closed in 2005? Also before I applied for a mortgage initially, I requested my own ICB report and there was nothing mentioned on it at all about this.

Do I have any standing? Can they use history over 5/6 years? Will a mistake in my 20's carry on through for another 5 years.

Would be very interested to hear if anyone else has had similar experiences (although speaking with citizens advice - they have never heard of it) or if anyone has any advice on how I can proceed.

Many thanks

Dellgirl1979

[Deleted User]

Was the card with Bank of Ireland? In which case they would have been able to check their own records, which could go back much further than 6 years.

dellgirl1979

It was with Bank of Ireland which was what I suspected. It's weird how this was not an issue the first time we got approved and now it is. They specifically mentioned ICB as well.

thebritishbloke

If it went through last time, I can't see you having a problem this time over a 9 year old account. So long as you paid off the debt, I can't see them refusing you.

GingerBob_3

The ICB hold data for five years:

http://www.icb.ie/about.php

dellgirl1979

Thanks everyone, I have asked BOI to provide some more details as currently the underwriter is not happy to proceed. I have asked them to confirm the credit beareau they are using, this way i can check if it is internal records. I have also asked them to confirm why the mortgage approval went through last time without any hitches and not this time.

will keep you posted on outcome

Thrugelmir

Criteria can change at any time.

BOI may well be imposing higher criteria post MMR. Using historical data on defaulted accounts to filter out applications.

There's no time limit on lenders blacklisting account holders.