Refused Mortgage due to £121 Nationwide BS missed payment

Ratty77

Bit of a long story so i'll keep it short. Basically Experian hadnt updated their files to show i had been overdrawn on a Nationwide Account for the last 4 years (£121 - started at £6.50) that was registered to a previous address. I only became aware of this whilst applying for a Mortgage, and had to request Experian to update my file, and discovering to my horror that this debt existed. This was last June and i paid it, and closed the account the very same day. This is now preventing myself from obtaining a 95% Mortgage, until May 2016 at the earliest im told. My question is, is there anything i can do to get this removed from my credit score? I have been advised the debt shouldnt be showing on my credit score after the point it reached £121? is this correct? Should have Nationwide tried to contact myself Via debt collection agencies which would have drawn my attention to the debt?

Any advice would be much appreciated.

Regards

[Deleted User]

Ratty77 wrote: »

I have been advised the debt shouldnt be showing on my credit score after the point it reached £121? is this correct?

No. It will stay on your credit report for 6 years, whether £120 or £121.

You should have been advised of the debt via statements etc. But did they have your current address?

Ratty77

No they didn't have my address so therefore i didnt receive any mail advising me of this. Surely they could have contacted via a debt collection agency?

Ratty77

Deleted_User wrote: »

No. It will stay on your credit report for 6 years, whether £120 or £121.

You should have been advised of the debt via statements etc. But did they have your current address?

No they didn't have my address so therefore i didn't receive any mail advising me of this. Surely they could have contacted via a debt collection agency?

SuperAllyB

If you still had an account then they should have been notified of your new address. As the credit file is accurate, i'd say your chances of having it amended are slim at most.

littlerock

I suppose you could try a mortgage broker

Tixy

No chance of getting it removed.

It was, unfortunately for you, your responsiblity to tell your creditors/any business you have accounts with of any change of address.
And also your responsibilty to know how much money was in any open account.

That said it can be possible to get accepted for a mortgage with a settled default still visible on your credit file. You may find a mortgage provider willing to lend to you, though the chance increases if you have a larger deposit or are not borrowing at the top limit of affordability etc.

meer53

If Nationwide didn't have your address then the debt collection company wouldn't have had your address either.

somethingcorporate

^^ This!

Nationwide disbanded their telepathic department a few years ago. You're fishing in the most high risk area where mortgage lenders are the most choosey. You have little to no chance I am afraid.

Thrugelmir

Ratty77 wrote: »

No they didn't have my address so therefore i didn't receive any mail advising me of this. Surely they could have contacted via a debt collection agency?

The lender will wonder what else you may have conveniently "left behind". Credit profiling is conducted to assess you as a potential borrower. In particular your attitude and the responsibility taken in the management of your personal financial affairs.