Mortgage refusal, help please.

Cloudsandstuff

Hi,

First time here so i'll ask my questions first

How does one remove bad addresses from a credit report when the supplier of that report claims they do not exist? How can a bank being supplied by that very same company get a different report?

There is a story behind these so please read on.

I've been refused multiple mortgages over the last three months, it has become a nightmare to say the least. Trying to cut to the chase, after many hours spent on the telephone i've determined it is due to bad debt at addresses apparently in my name. Now this is where it gets silly.

Flashback to somewhere in the region of eight or nine years ago, I was hounded by a company for bad debt, it took months to get them off my back but they'd been chasing the wrong person, these addresses were in a city i'd never visited, let alone lived in. I felt this was the end of it and foolishly discarded the paperwork somewhere along the line.

Back to the present and the real problem at hand. I have acquired credit reports from Equifax, CallCredit and Experian, none of which display the bad debt addresses. Phone calls to these companies confirm the addresses are not there. Mortgage lender (a major national bank) claim they exist and refuse me as a result, I have faxed copies to the bank along with a statement as requested and am still being refused. After being instructed to return to the agencies and get addresses removed i'm a bit stuck.

Thanks for reading.

ACG

First of all stop applying for mortgages, thats going to knock your credit score.

Its difficult as the credit report you get is based on your current address only. Have you tried to appeal any of the declined applications? If not, that would be a starting point I think.

If that fails, then I would suggest you speak to a competent mortgage broker - you may have to pay for someone with the experience/time to dedicate to the case but I imagine this can be resolved.

Cloudsandstuff

Hi,

Sorry I should have been more clear, there were two applications, the second of which has been in appeals for a month and a half at least. I just rolled the whole thing into "refused for multiple" when it should have been refused multiple times.

I am also with a mortgage adviser but have been doing the leg work myself as they wouldn't provide him with any sensible information.

Dave_Ham

Ok, are you using just one credit reference agency or do you have Experian, Equifax and Call Credit.

As suggested, as competent broker should manage this for you and manage the process.

It is unlikely that this is the sole source of your issues, as 6 years + ago are unlikely to still be recorded and visible.

Good luck

GMS

Do the debts relate to the lenders youare applying to?

Could it be an internal check rather than the credit file causing issues?

Cloudsandstuff

To Dave Ham "I have acquired credit reports from Equifax, CallCredit and Experian, none of which display the bad debt addresses." Additionally bad addresses are apparently permanent and can be removed by appeal but given it's not being acknowledged I can't appeal.

GMS, i've been told they get their credit reports from CallCredit and I purchased reports from the other two agencies to double check when this started happening. All are the same, no addresses they are claiming cause the problem. I must confess I am concerned it is some out dated internal data they are using but given two separate banks have it, not so sure. This is in re-review stage as i've asked today for any help in going forward.

Dave_Ham

Unless this is a fraud/criminal issue, the linked addresses may show on the files, but the financial marker (default/CCJ etc.) will not remain outside of the 6 years.

Who are the 2 lenders?

kingstreet

We've had a case like this recently.

Applicant moved out of a property eight years ago, so address no longer on credit file. Lender search found adverse which turned out to be a default on a fraudulent Wonga loan taken out by later tenant in property in question in our applicant's name.

Applicant had to raise a dispute with Wonga, via Call Credit, which resulted in the default being removed after about three weeks. At that point our mortgage was able to resume.

Must confess Dudley BS were brilliant over this.

You may wish to post this on the Credit Files board, as the mortgage issue is the symptom, not the cause and there may be other ideas over there;-

http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=257

Cloudsandstuff

Santander initially, Halifax currently.

Dave_Ham

Halifax would not typically go back this far, so suspect some of the issues are of a more recent nature (accepting that they are not you causing the negatives)

Again, with this sort of automated credit file issue may be worth talking with a lender that will manually underwrite

kingstreet

I agree, Halifax only manually checks Call Credit if there's a concern over the case at submission.

Have you checked CIFAS and/or National Hunter entries?