First Direct - historic late payments query

sophieev · 17 February 2015 at 1:37PM

Hello All

I wondered if I could ask for some advice.

I currently have a lifetime tracker mortgage and am lookingto remortgage with First Direct, which would reduce my rate by 0.7%.

My query relates to First Direct's criteria, specificallyregarding late payments.

This would be a joint application with my partner. The LTVrequirement for the rate is 75%. Our actual LTV would more like 71-72%, so wellwithin the 75%. From what I can tell affordability should not present a problem- we are both saving approximately £1000 a month each and have a decent amountof savings, although the last couple of months of expenditure have been much higher than usual due to work on our property...... I am sure there is more to it than that in any case.

My partner's credit history is very good. No late paymentsetc and all showing up great on Experian and Equifax.

Mine is the same, except for one of my accounts - an oldmobile phone account which I did not have on direct debit at the time (allpayments that were missed were due to being out of the country - I used totravel a lot for work).

There are no late payments for over three years. The mostrecent late payment was 45 months ago (so, around three and three quarter yearsago). In the 45 months to 72 months period there are a further 8 late payments,one of which should drop off at the end of the month.

All of these show up as orange "1"s on Experian.

From searching this board and other research, it seems thatFirst Direct are very particular. I wondered if anyone might be able to offerany thoughts as to whether those blips on my credit history are likely to meanthat First Direct is a "no go" ?

If it is highly likely that I will be rejected out of handthen I would just prefer to go elsewhere or stick with what I have.

Many thanks for any thoughts you might be able to offer.

Thrugelmir · 17 February 2015 at 2:16PM

First Direct only deal direct so assessing their criteria is nigh impossible in any particular regard. Also internal scoring and decision making is based on a combination of factors.