Should we continue with mortage application despite credit file not being 100%?

wookie6

Hi,

We have a mortgage application appointment set up for next week and have just checked our credit files with Equifax and have found a few things:

1) I still had one of my credit cards and current accounts registered at my previous address. I have corrected the current account address online today and will go into branch to correct my credit card address on Monday.

2) Despite registering and voting this year, my partner is showing as not being on the electoral role this year on the credit file. Having looked at our voting cards her name was spelt incorrectly by one character so this may be why.

Given these bits not being 100% on the credit files (well at least the one provided by Equifax, however we assume the one provided by Experian would be the same) should we keep the appointment and proceed or look to get these corrected before we proceed?

Any advice greatly appreciated, the last thing we want is to get our mortgage application refused because of these!

ACG

1) Not a major issue, IF it gets picked up just explain to the lender.
2) May cause an issue when your application is being scored so you should be careful when choosing a lender.

Are you meeting a broker or the bank?

Your credit reports can show different info so it is always worth checking them all. But the 2 bits above should not stop you getting a mortgage, it may just mean you have issues with some of the more stringent lenders.

wookie6

Hi ACG,

Many thanks for the very quick reply.

We have an appointment directly with Chelsea Building Society, we are not using a broker. Does this make a difference?

ACG

Chelsea are part of Yorkshire building society... Brokers can only submit business to them via a subsiduary called Accord mortgages. There is only one company I refuse to use and its them.

They will want letters showing you have been at that address going back to when you moved in for number 2.

wookie6

Thanks again thats useful to know.

We are currently renting, so we can show our rental agreement on the date we moved in which I assume will be sufficient?

If need be we may also be able to dig out a few letters sent to our current address shortly after we moved in.

Would you suggest ringing Chelsea Building Society ahead of our appointment and explaining what we have found on the credit file and what they suggest?

ACG

I think they will want to see an actual bill or bank/credit card statement.

I would always speak to the lender with anything out of the ordinary.

Senior_Paper_Monitor

Certainly the Accord arm don't accept an AST as a 'proof of past residency' - and I suspect they don't on 'current'. Utility Bill / Bank statement ?

wookie6

Thanks again, we will dig out some bank statements / utility bills from the months just after we moved in.

sheilds

Wookie

I think you would be better seeing a "whole of market broker"
We had an appointment with our bank (had banked with them for 15 years) and they declined us even though we thought we had no issues.
We were so stressed and thought we would not only miss our dream house but also miss out on the sale of our house.
We were advised to go to a broker who were able to match us to a lender who would be agreeable to our circumstances and we got a brilliant deal that because of our experience with the bank we thought we had no chance of getting.
I can't recommend a broker enough>
Best of luck.
S,

bigsamih

Accord/Yorkshire/Chelsea are also on my NO list. The detail they go into.. just not worth my time.

wookie6

Thanks again for the helpful replies.

Shields - Did you find having a second mortgage application approved after your first was rejected any problem? As presumably a rejection goes on your credit file and therefore may be taken into a account on a second application.

Also, do you mind me asking which broker you used?

I'm getting the impression brokers generally avoid Accord / Yorkshire / Chelsea, has anyone had a positive experience with them?