Do Nationwide have a blacklist not linked to credit reports? (shared ownership)

notmyrealusername

I'm considering applying for a shared ownership mortgage with Nationwide - my Q is about whether Nationwide have some kind of secret blacklist not linked to credit reports?!

Background: Prior to taking out an IVA in 2006 I applied for a current account with Nationwide, as advised by the debt charity helping me, as I had no debt/relationship with them. At the time I had no defaults/missed payments, but I did have a large amount of debt elsewhere. I was declined and so opened a full current account with Natwest the same day with no issues. After my IVA completed and all defaults were removed from my credit report (late 2012) I did an eligibility check (soft search) for credit cards and it indicated I may be accepted for a Nationwide CC but when I applied it was declined straight away, the same day I was accepted for a John Lewis (HSBC) credit card.

Now I know both those events were a long time ago but it seems that Nationwide don't like me very much - both applications declined yet other banks eg Natwest current account and HSBC credit card approved the same day as Nationwide declined.

I appreciate that a brokers services are always recommended when there's anything 'non-standard' about the application - in my case shared ownership and previous adverse but the cost is £500 and from the research I've done it seems my options are extremely limited so I'd be paying £500 to be offered two options!

eg Natwest (my bank) don't do S/O, Leeds BS do but the IVA had to finish more than 6 years ago so they require the start date of the IVA to have been more than 11 years ago (5 years for IVA to run, then 6 years after it ends). Santander and Yorkshire bank do S/O but both ask if you have EVER had an IVA etc so would have to answer yes.

Nationwide Q is:

Have you ever been declared bankrupt or entered into a voluntary arrangement with a creditor in the last 6 years

Halifax Q is:

Has any applicant been declared bankrupt, entered into an IVA or debt relief order within the last six years or still have an outstanding bankruptcy restriction order

So I can answer 'No' to both Nationwide and Halifax...

Halifax accepted me for a Clarity credit card around 9 months ago so not sure whether to apply with Halifax (despite the HBOS group being a creditor in the IVA 9 years ago) as they have trusted me with a credit card since the IVA completed, or Nationwide who I have never had any kind of account with but who have always declined me whenever I've applied for any kind of product!

Full detail of my situation:

• 29k salary
• No dependants
• Same job for last 10 years
• Same house for last 8 years, on electoral roll
• Zero outstanding debt - 4 credit cards with large limits used each month for general living costs and paid in full without fail
• 10-15% deposit
• Property value 200k, 30% share (not new build)

IVA entered into 2006, completed by way of full and final settlement in Sept 2009. Six years after the start date of the IVA ie Sept 2012 all defaults and record of the IVA was removed from the credit report. So as at 2012 I had a squeaky clean credit report, since then I have obtained mainstream credit cards, paid off in full every month without fail. Positive credit history going back the full 6 years as had mobile phone, car HP, current account etc throughout the IVA

andyfromotley

I doubt if you are on a 'blacklist', but i have no idea if they hold one, i would have thought that previous FOI requests would have highlighted such a thing?

I know its going to cost but you have already identified your best course of action, get yourself to a broker. You may have had a look at their lending criteria but a decent adverse credit broker will have plenty of experience of actual applications with the various lenders and will guide your application appropriately.

ACG

IVA is a form of insolvancy so you may find you crop up on the bankruptcy register? (Im not sure if that is the case or not but worth checking).

But ALL lenders take information from your application, credit agencies AND information they have access to elsewhere - that could be through a histroy with them or their subsiduaries for instance.

notmyrealusername

ACG wrote: »

IVA is a form of insolvancy so you may find you crop up on the bankruptcy register? (Im not sure if that is the case or not but worth checking).

But ALL lenders take information from your application, credit agencies AND information they have access to elsewhere - that could be through a histroy with them or their subsiduaries for instance.

An IVA is removed from the register on completion so I'm definitely not on any bankruptcy register and it's been off my credit report since 2012.

It seems madness that Halifax (who are aware of the IVA as HBOS were a creditor) have given me a Clarity credit card yet Nationwide, who should have NO knowledge of the IVA as I have never banked with them, or applied for any of their products whilst the IVA was on my credit report, seem to not 'like' me for some reason!

I was leaning with going with Halifax due to the fact they were happy to give me the Clarity card so seem amenable to giving second chances but as Nationwide have no knowledge of the IVA they should (in theory!) be a better bet as the mortgage amount is well within affordability and my viewable credit history is pristine.

ACG

A credit card and a Mortgage are completely different. Do not base your decision on who to get a Mortgage from because of a credit card application.

Its not really the same thing but I could get an overdraft or credit card from RBS, but I could not get a Mortgage or loan - because I do not have 2 years accounts yet. As I said, its not the same but it gives you an example of how criteria can have an impact on different products.