Help needed - First time buyer Mortgage declined

nathansts

Hello Everyone,

My broker applied for a first time buyer's mortgage with Halifax and it has been declined.
The reason provided by Halifax is that there is an "adverse credit in one of the linked addresses" in my Call Credit report.

My broker advised that I register with Call Credit and look into my credit report, which I did. I couldn't find any issues. I sent the report to the broker who also had a look and couldn't find any issues.

I phoned Call Credit to if they can spot any adverse credit on my file. They also say my report looks fine. Call credit provides rating out of 5 and mine was 3/5. My broker advised that Halifax will decline if the rating is 3/5.

I asked Call Credit why my score is 3 if all looks fine in my credit report. The agent simply answered that it is a system generated score and that she doesn't know the reason.

I simply don't know where to go from here. My broker advised that we can appeal with evidence and get the underwriters to review again. But we are not sure what sort of evidence to provide.

Have any one been in this situation or know anyone who has been in this situation ?

Any help/suggestions will be a massive help

Thanks
Nathan

Malmo

nathansts wrote: »

Call credit provides rating out of 5 and mine was 3/5. My broker advised that Halifax will decline if the rating is 3/5.

Your broker is incorrect. The Noddle/Callcredit score (and any other consumer score marketed by any credit reference agency) is irrelevant and is not seen or used by any lender. This observation alone would make me look for an alternative competent & knowledgeable broker.

I simply don't know where to go from here. My broker advised that we can appeal with evidence and get the underwriters to review again. But we are not sure what sort of evidence to provide.

If the broker was any good, he/she would have a plan B with another lender in mind. Have they recommended any other lenders?

My suggestion would be to find a different, independent whole of market broker (not an estate agent based one). Call up a few and get a feel for whether or not you could work with one.

The Halifax AIP/DIP is a soft credit check of your last 3 years address history. The full application may have detected an adverse issue beyond the last 3 years, so it is worth checking all your addresses in the past 6 years.

stator

Are you sure you have given all your names and addressess completely correct for the last 6 years? Have you also checked your other credit reports, the information they gave you about the decline could easily be wrong.