Please help (Experian).

liverpoolbear

jonesMUFCforever wrote: »

I would also question the broker who submitted the application - his job is to make sure everything is ok.
Try Nationwide direct.

I got a decision in principle based on what I disclosed. Experian have come back and told Nationwide that I have £6k of credit card debt and £340 of monthly loan commitments.

My credit card is settled every month and I have a car loan of £170 per month which I disclosed. The Noddle report substantiates what I disclosed, I don't know where £6k of credit card debt comes from as well as the doubling of my monthly loan commitments.

liverpoolbear

ceredigion wrote: »

I would sue Experian for defamation of character , they are obviously passing on incorrect information to a third party.

I've already put £250 down on the house, plus the builder has put the cost of houses like the one I am buying up by almost £20k. If I miss out on this property because of incorrect information I will be engaging the services of a solicitor to recover all the costs incurred as well as the difference.

meer53

Is this a sole mortgage application or joint ?

A decision in principle is always subject to further checks. What other costs have you incurred apart from the deposit ? Is the deposit refundable ?

jamesd

Work with the Experian rep here, it's probably the fastest way to get it resolved. You've demonstrated knowledge of the mortgage application and that may help Experian to become sufficiently confident of your identity to provide more information to you.

Associating of credit accounts with the wrong people does happen sometimes. So does identity fraud. If the payments are being made on time it's probably the first type of glitch. If the credit history is poor with lots of missed payments or a default it's more likely to be the fraud case.

The lender will believe Experian's report at least until Experian changes what it is telling them.

Monday is almost certainly too little time to get the reporting issue sorted out. Best to ask Nationwide to delay a bit while you work with Experian to ensure that they get correct information. If Experian has provided you with any dispute or enquiry reference number you can supply that to Nationwide to help them to recognise that it's just a glitch that will be resolved.

You can also ask that Nationwide approve subject to satisfactory to them removal of the incorrect information from your credit record before funds are advanced to you. Don't simply wait. Let them know what's happening and give them options that don't force them to make a certain decision on Monday while you know they have inaccurate information.

liverpoolbear

meer53 wrote: »

Is this a sole mortgage application or joint ?

A decision in principle is always subject to further checks. What other costs have you incurred apart from the deposit ? Is the deposit refundable ?

It's a sole application and to say I was surprised I was rejected is an understatement. I disclosed everything and the Noddle report backs up that. No missed payments, no outstanding debt, nothing.

I am really curious as to what Nationwide are seeing because it isn't my credit file.

liverpoolbear

jamesd wrote: »

Work with the Experian rep here, it's probably the fastest way to get it resolved. You've demonstrated knowledge of the mortgage application and that may help Experian to become sufficiently confident of your identity to provide more information to you.

Associating of credit accounts with the wrong people does happen sometimes. So does identity fraud. If the payments are being made on time it's probably the first type of glitch. If the credit history is poor with lots of missed payments or a default it's more likely to be the fraud case.

The lender will believe Experian's report at least until Experian changes what it is telling them.

Monday is almost certainly too little time to get the reporting issue sorted out. Best to ask Nationwide to delay a bit while you work with Experian to ensure that they get correct information. If Experian has provided you with any dispute or enquiry reference number you can supply that to Nationwide to help them to recognise that it's just a glitch that will be resolved.

You can also ask that Nationwide approve subject to satisfactory to them removal of the incorrect information from your credit record before funds are advanced to you. Don't simply wait. Let them know what's happening and give them options that don't force them to make a certain decision on Monday while you know they have inaccurate information.

Thanks for the advice. Tell me I am being stupid here but if you double the balance on my Capital One & Amazon cards at the end of June (the report is up to then) then you get the sum of £6,054! These were both current balances and settled earlier this month.

Also if you double my monthly loan payments you get £340!

These are the numbers given to me by Nationwide as the reason my mortgage application has been referred to Head Office.

Seems a bit too coincidental to me. Please tell I am being stupid.

jamesd

You're not being stupid. It's entirely possible that those are the most recent balances on the credit report and the ones that Nationwide is using. So one more thing you can do is send Nationwide the latest online balances or statements to demonstrate that those balances have been cleared.

That can't explain the doubling but at least it can explain one of the discrepancies between reality and what they believe. That in turn will help them to be minded to give more time to sort out the rest.

liverpoolbear

jamesd wrote: »

You're not being stupid. It's entirely possible that those are the most recent balances on the credit report and the ones that Nationwide is using. So one more thing you can do is send Nationwide the latest online balances or statements to demonstrate that those balances have been cleared.

That can't explain the doubling but at least it can explain one of the discrepancies between reality and what they believe. That in turn will help them to be minded to give more time to sort out the rest.

I've just called Nationwide, they have indeed doubled my debt/outgoings meaning I failed the affordability test!

For some reason rather than put me at my current address for 11 years they have me living there for 9 years & 2 years (i.e. two spells!)

This in-turn has meant they have doubled my outgoings/debt! It is being corrected as I type this.

Nationwide Head Office spotted it right away ("why has this been sent to us?" was one of the comments on the file) and have referred it back to the mortgage department.

From speaking with them once this is corrected it looks like it will be approved. However, I am not holding my breath as they'll probably now discover something else equally ridiculous...

Clive_Woody

liverpoolbear wrote: »

I've just called Nationwide, they have indeed doubled my debt/outgoings meaning I failed the affordability test!

For some reason rather than put me at my current address for 11 years they have me living there for 9 years & 2 years (i.e. two spells!)

This in-turn has meant they have doubled my outgoings/debt! It is being corrected as I type this.

Nationwide Head Office spotted it right away ("why has this been sent to us?" was one of the comments on the file) and have referred it back to the mortgage department.

From speaking with them once this is corrected it looks like it will be approved. However, I am not holding my breath as they'll probably now discover something else equally ridiculous...

Wait until Experian tell them that your name is actually Liverpool Bear. That should help stir things up at Nationwide....

liverpoolbear

Clive_Woody wrote: »

Wait until Experian tell them that your name is actually Liverpool Bear. That should help stir things up at Nationwide....

Can't be any worse than using my real name.

Yours.


O. B. Laden (jnr). :rotfl: