Credit Score reduced due to joint account/missed payment?

Mumoftwo73

Hi,


Myself & my husband have been clearing out credit record for the last 5 years. Mine is 'excellent' with Experian. My husbands was 'Good'. We went to Barclays who I bank with, to talk about getting a mortgage with them. They suggested adding my husband to my account making it a joint account & both being on the electoral register. We did both.


Barclays added him to my account but forgot to tick the box to issue him with a card. He went back in and they said, sorry but we need to start again and do a credit check in order for you to have one. They did this and now his credit score has reduced dramatically from 800+ to 600+.


Is there anything I can do?


The whole process was so that we could obtain a mortgage with Barclays. Yesterday we tried to do this online as the original woman we saw in branch is too busy. The process took our details and carried out a 'soft search'. This came back as a NO. We think it is either his credit score or he has a Very.co.uk account where he missed one payment due to them changing the payment date terms & conditions. It was £25 and paid shortly afterwards. Would these two things be the cause?


Any advice greatly appreciated.

Malmo

First of all, you do not have a universal or central rating/score, so the Experian (and Equifax & Callcredit / Noddle) "ratings" & "scores" are not indicative of anything that lenders will see and use. Each lender assesses & scores applicants against their own criteria & scorecard to establish whether or not the applicant fits their target customer profile. So the score that you refer to is not meaningful and should be ignored.

Note that there is no need to sign up for any paid subscription services with the Credit Reference Agencies. A statutory report costing £2 from each agency is sufficient and reports the same information as a subscription report. Although the late payment may be visible on Experian's report, it may not be visible on reports from the other 2 agencies (Equifax, Callcredit/Noddle), as different agencies have different relationships with lenders/creditors.

See links below to each agency's statutory report.

Experian Statutory Report

Equifax Statutory Report

Callcredit Statutory Report AKA Noddle

Best to have a read of this MSE article first for general tips.

Have you considered using an independent mortgage broker to help you find the right mortgage for your circumstances?