Post office said No... Please help

Xxcamxx1

So today we were turned down for a mortgage with the post office. Their reason was arrears on a closed down account?!? We have never been in arrears with anything... Ever! Big statement but we are proud of this and would know if we had. On the advise of the post office mortgage advisor we have sent off for a full credit report to find out. 7 working days wait for the report to arrive... In the mean time what can we do... We have a offer excepted on a property and I don't want to lose it!
My partner earns 26600
We need a mortgage for 99000
And have deposit of 6000
Can anyone help???

capwhitt

Mortgage broker. Tell him/her everything and they will help. Many don't even charge a fee.

Even if the broker helps though, you need to get that black spot off your credit rating, especially if its not true. Phone up Experian or whoever you went for as soon as you have the report to get it fixed.

libf

Xxcamxx1 wrote: »

So today we were turned down for a mortgage with the post office. Their reason was arrears on a closed down account?!? We have never been in arrears with anything... Ever! Big statement but we are proud of this and would know if we had. On the advise of the post office mortgage advisor we have sent off for a full credit report to find out. 7 working days wait for the report to arrive... In the mean time what can we do... We have a offer excepted on a property and I don't want to lose it!
My partner earns 26600
We need a mortgage for 99000
And have deposit of 6000
Can anyone help???

Seems tight on affordability... Go to a broker.

And if you sign up for a free trial of the credit rating online service then you might get info quicker. Just make sure you cancel before they charge you.

Xxcamxx1

We have registered with experian this week before we applied for the mortgage and nothing out of the ordinary is on there... No errors or arrears?

Malmo

There are 3 Credit Reference Agencies in the UK - Experian, Equifax, Callcredit/Noddle. Lenders may report to 1, 2 or all 3 of them depending on their commercial relationships. Obtain a copy of your statutory credit report from either Equifax or Experian (whichever you haven't yet requested from) and register for a free account with Callcredit's monthly service called Noddle, which should be instant & free access. Then review the data reported for the account that the lender has a problem with.

Experian Statutory Report

Equifax Statutory Report

Noddle

Xxcamxx1

Post office use Experian hence why we thought to check with them. We are regisitered with Noddle and have been for about two years. I have sent off for Experian Credit File today.
We will call Experian today to try and clear this up? does anyone know how long an mortgage application appeal takes?

Xxcamxx1

Does anyone think we haven't a chance of getting a mortgage? We moved back with parents to get deposit and really do not want to go back to renting... I would pay over the odds for a mortgage but shall we give up???

roje

Go to a broker as suggested. You'll have a far better chance that way.

capwhitt

Experian reports only go back so far. When the PO use Experian they ask them to go back further. Other lenders won't go back as far. I was rejected at HSBC with no reason given then accepted at TSB within an hour of an appointment with a broker.

Malmo

Is the closed account not showing on your Noddle report?

Engage an independent whole of market broker. Suggested method is posted here.

Xxcamxx1

No there isn't any closed accounts we didn't know about already that have come up on either noddle or Experian ?