Getting a Mortgage after failed credit card application

nmjams

please bare with me, this may be a bit long winded....

I got declined for a credit card today. i filled out a form before hand and was told i had an 80% chance of being accepted so i went along with the application. I was declined and don't know why.
at the start of the month i took out a new sim only deal with virgin. they did a credit check and told me i had a fantastic credit rating, then, after a few weeks i had issues with data speeds so changed from virgin to Tmobile so that was another search on my file. Could having 2 searches in a short period of time be the reason for me being declined?

I want to buy my first home soon, infact i've seen a house and thinking of making an offer. What are my chances of getting a mortgage now?

I can;t stop thinking of the worse.

dimbo61

You need to get copies of your credit file from the credit reference agencies. Experian, Equifax and Check my file.

Money_Man

Have you asked why you were declined for the credit card?

Mortgage is a different product and each lender will have a different criteria, I would'nt worry too much but check your file online for free with Noddle.

mike0090

I wouldn't worry too much, my gf applied for a current account with nationwide and was declined an overdraft. That was just a few months ago and we just got approved for a mortgage. I wouldn't apply to the same company you applied for credit card with for a mortgage though. We didn't apply to nationwide as we thought we wouldnt get a mortgage if my gf wouldn't even get an overdraft, which was unfortunate as we would have got £1000 cash back and slightly lower intrest rate.

nmjams

Thanks guys, i got my credit report from Experian (30 day free trial)
it shows i have 1 late payment from my orange mobile account from around 3 months ago.
i had a dispute about a high bill and was advised by them to cancel the direct debit immediately and make the normal payment by phone, this went on for a few months and i was late paying them as a result. My fault but they had made an error with the bill, we got it sorted before i cancelled my account as a result.

Will writing to them get this removed from my credit file? I'm still an EE customer via Tmobile if thats any use.

Also, i can see that halifax made a search but it doesnt show that i was declined the credit card, Does this information get recorded?

mike0090

I think only Halifax will know you were rejected not sure if they store this information, other banks would only see credit search. Re late payment that could be an issue for a mortgage especially with a low ltv. My partner had late payment on her credit file which she successfully got removed after complaining to the financial ombusman but if you say the late payment is your fault there's no chane they would removed it. Best bet would be write a letter to EE kindly asking them to remove it.

Stevev99

Hi, as someone going through a mortgage application myself right now I sympathise with your worries!
I too noticed my Equifax rating had suddenly dropped from very good to low around the time of application and all because I'd had 4 credit applications in the space of a month for mobile phone contracts etc. all these were successful however I should have held back until after mortgage ideally
All credit searches are seen by prospective lenders however not whether they're successful or not.
Anyway, as someone else pointed out I think there's much more to a mortgage application since of course they now run far more stringent stress testing against income, bank statements and income etc. plus of course I guess LTV is highly relevant.
My mortgage application has reached the stage where I've paid RBS for the survey now so past the acceptance criteria stage.
Hope this calms your fears a little.

nmjams

I just got off the phone to Orange, they're going to contact experian and have it removed within 10 working days.
I can't believe it was that easy, almost too easy
If it does and i hope it does, will it be removed from all credit reference agencies files?
.