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Help with credit history please
Comments
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Hi Moseydo82,
Once the Virgin account is brought up to date, and Virgin record a "0" on the most recent payment history, this will have an immediate positive impact on your report.
As the late payments get older they will have less of an affect.
You can also add a "notice of correction" to your report to let any lenders know the reason behind the late payments. This would also stop any applications going through automated processes, so lenders can take your comments into account.
You can find our more about notices of correction here
Kind Regards
Neil“Official Company Representative
I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen0 -
Just to give some balance, it is not unilaterally accepted that a notice of correction will aid your process mortgage wise.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Post Office - best for stampsI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi,
The Virgin account was upto date 2 years ago and has been settled for 2 years.
They rang today to say approved and to take payment for the valuation.
I'm not sure what that means in the underwriting process.0 -
This is good news, unlikely they do this unless initial underwrite is satisfactory.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I feel like it will get valued then they will change there decision. It terrifies me that we will get to the point that we exchange the deposits and it falls through.
Obviously £22500 is a massive amount to us.0 -
This is incredibly unlikely and usually only happens due to deceit or fraud.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
You'll only pay £7,500 for exchange, not the whole lot.I feel like it will get valued then they will change there decision. It terrifies me that we will get to the point that we exchange the deposits and it falls through.
Obviously £22500 is a massive amount to us.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Well there is no deceit or fraud so my fingers are crossed.
I'm just a worrier.0 -
We got the call Monday saying the full application was approved. MA said they are requesting documents. Any idea when we should expect these?
Should we instruct the solicitor, and pay the £300, now or wait until the mortgage offer is received?0
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