Help with credit history please

Moseydo82

Me and my wife have just put an offer in on a house and had it accepted.

The house is £150,000 and our deposit is £22500 so 85% LTV. Our joint income is £38000

We don't have any debt at all just a credit card each but with nothing on them.

We had a mortgage meeting and got a DIP from the Post Office, we then did the full application and it was referred. I'm not on the electoral role here because we moved from my home town and I'm still on there.

Now the scary part, the search has obviously linked our old addresses and has put a virgin media bill on showing missed payments 2 years ago.

Now we know nothing about this, the account is settled and has 2 years green payment from the last date.

It turns out, I rang Virgin, that the reason it shows 1111110 on the credit status is that we were paying the month behind!! Whilst we thought we were paying bills early it was actually the month before! The reason it shows 111111 on the credit file is we never didn't pay we just paid the wrong month!

Does this mean we have absolutely no chance of getting a mortgage :-( we've worked so hard to raise the deposit and now this 2 year old mix up is leaving me sleepless.

Honest answers appreciated, oh and sorry for the long first post.

Dave_Ham

Have Post Office given you their decision?


If you are asking if this will affect your Post Office decision, virtually impossible to tell.


If you want to know if it will affect your chances of a mortgage at all, then probably not.


Best of luck

Moseydo82

Hi,

The account wasn't on when we had our full application. It got referred as I'm still on the electoral roll at my parents address.

The account must have come in when the addresses were linked so it wasn't there during the application credit check. We didn't know it existed either.

We are getting a phone call tomorrow as to the referral decision. The advisor (post office) said it's just a case of proving we live where we live.

If the Post Office say no is it likely that all lenders will.

Obviously being debt free and having a large deposit helps but I fear this blip, if you can call it that as we never actually didn't pay a bill, will stop us buying our dream family home :-(

Moseydo82

Oh and thanks for the reply Dave.

Dave_Ham

No worries, suspect on the face of it you will be fine if Post Office says no..

Moseydo82

Would we be best going through a whole market broker?

I really can't believe after saving a large deposit something 2 years ago can pop up. It annoys me more that it was for such a stupid thing. Wish I'd had Experian back then.

I just used to pay the bill they'd sent. Little did I know it was a month behind.

Is a series of 1 markers on the same account better than a 12 on another account?

Dave_Ham

You are overthinking this a bit.


Whilst I cannot offer assurance Post Office will accept as they can be a tad fussy, I would be incredibly surprised if this prevents you from achieving a mortgage on sensible terms.


A broker would certainly make sense given the detail yes, although accept we can be deemed as biased.


Try not to worry.

lonestarfan

Whats virgin's explanation for why they didn't send you your final bill if it's paid a month behind or was it the post office didn't redirect the mail correctly? I need to check my bill as I can't be certain what date it says on my Virgin bills as I just pay monthly direct debit.

Moseydo82

It must be because I always paid it within 30 days so never caused a problem as a consecutive build up as in 2 months late.

It's my own fault as I never looked at the bill date just paid the amount

Moseydo82

Would we be better trying somebody like the Chelsea Building Society?

Dave_Ham

Almost certainly not.


Wait to hear from Post Office, if you get declined then speak to a broker.