Worried about Kensington application

learningaboutmoney3

Some of you may or may not remember our landlord told us he was selling our house back in July. He gave us first refusal and we were in the process of trying to find a deposit.

Fast forward to now;

We have our deposit £30K gifted by my parents and will be applying for a decision in principle with Kensington in a week once our ccj is 2 years old.

I checked check my file last night as my free trials have run out with experian/equifax etc and I'm waiting for my statutory reports and I was horrified to notice a late payment marker for eon for nov last year.
Basically they overcharged us and we had to pay monthly. I do remember us paying late and then we used savings to pay it off. I had no idea at the time they marked equifax but now we have a 6 there and it looks terrible it's my own fault I know.

My other concerns is that when I have checked hubby's bank statement he has some bank charges. Not for large amounts but that won't look good either will it? I've had a word and he's squeaky clean this month.

Have we totally messed things up?

ACG

It will depend on the rest of the case.

I wouldnt say its going to fail, but likewise I would not offer any guarantees on it being accepted.

amnblog

What has your broker said?

E.ON_Company_Representative

Hi Learningaboutmoney3,

I thought I would pop on and give you a little information about what happens when we share with Equifax.

When we share with Equifax, we give a true reflection of the status of an account at the time of the share.

Because there was a debit balance on the account at the time for the share, we'll have shared this. The '6' means the debt was over 6 months old at the time of the share.

I hope this helps.

Thanks

Amy:)

Mortgage_Mark_2

Kensington criteria states that there can be 1's and 2's registered (that is, payments up to two months in arrears) on your credit file within the last 12 months, but they must be up to date on application.

You should be fine once that CCJ is two years old, the late payment will not scupper this in isolation.

plumfin

We went with Kensington earlier this year and found them on the whole relatively helpful. They did mention that they have an online tracking service, but my broker either didn't realise or know to give me access.

However, they were quick to call and ask for more docs when needed - the only problem as I have read with all companies is that when you send them more info, you go to the bottom of the pile each time you submit new info.

One thing I would say is that they were very specific on the wording required for the gifted deposit, which delayed us and they requested driving licences and passport ID for my Dad, the originals, photocopied at the brokers. Worth getting this upfront and including it to reduce any delays.

Good luck. Hope you get sorted.

tvfreek

The gift letter is pretty standard for all lenders its surprising to hear the broker wasn't away of it, or the need to ID the donor.

plumfin

They did know of the ID, but it had to be amended in line with Kensington's requirements. They asked for further ID after we had sent the originals, so it was a bit of a pain, but all sorted now.

learningaboutmoney3

Thank you, we were declined today by Kensington. They said our EON account is showing as a balance outstanding and that we are in arrears and close to getting a default.
All I can see on Equifax (it's not on experian) is a 6 followed by U's and an account balance of 0. Eon state that is the same but as it turns out there is an outstanding balance from when we moved providers that I was unaware of. More than happy to settle this but asked for our credit report to reflect this. Think we may have reached the end of the road

plumfin

I am so sorry to hear that, is it worth checking again once Eon have amended their records? It is heartbreaking to be turned down so I hope it gets sorted for you soon.

tvfreek

plumfin wrote: »

They did know of the ID, but it had to be amended in line with Kensington's requirements. They asked for further ID after we had sent the originals, so it was a bit of a pain, but all sorted now.

Good to hear