Please Help. Unfair Low Credit Score

NSV

My partner and I are in the process of looking for a mortgage. I rent and have for nearly 6 years, paying my rent on the dot every month. My partner has an immpecable credit score and no problems with her credit rating.

Problem...? Yes. We've just been told that we cannot be lent to because of my credit history. Primarily it seems because of my past mortgage with my ex-wife, which fell into arrears after our divorce but before the former marital home was sold. For two years after our divorce the house was let out... my ex received the rental value and paid the mortgage... however at times it slipped 2 or 3 months into arrears.

After the last tenants moved out (April 2013) the house was put on the market to sell. It sold a year later and the mortgage was payed off. However the mortgage fluctuated between 0-5 months in arrears during this time. We stayed in contact with the lender and at every opportunity tried our best to keep up some form of payments which they generally agreed to.

My issue is that I am now being punished for the arrears which are perfectly explainable, even though as I mentioned earlier I have a perfect record of having payed my rent for the last 6 years.

What can I do for the best please? Any help?

[Deleted User]

The only thing that can fix your history is time.

Missing mortgage payments will always cause lenders concern, no matter what the reason.

Engage a broker who will help you place any mortgage application correctly.

NSV

Common sense doesn't prevail it seems. The same mortgage adviser we've been speaking to has said my partner can do all we want to do in just her name alone. As long as my name isn't used in any of the application process. Seems ludicrous.

Also seems unfair that my rent paying ability/history isn't on my credit file?

Thanks for the reply zx81

[Deleted User]

NSV wrote: »

Also seems unfair that my rent paying ability/history isn't on my credit file?

Assuming you're renting privately, individuals aren't able to report to your credit file.

JimmyTheWig

NSV wrote: »

Common sense doesn't prevail it seems.

Unfortunately, from the mortgage company's point of view, it is common sense.
What happened the last time that you and a partner took out a mortgage? Multiple payments were missed.
I know it's not what you want to hear but it seems like common sense to me to be wary before lending to you and a partner again.

NSV

zx81

I rent throught an estate agent and my understanding was agents now include rental payments on credit files?

JimmyTheWig

Multiple payments were missed ultimately because we divorced and hence had to sell eventually... this was understood by all parties. On your score then everybody is a risk as anybody could unfortunately divorce. If a spouse (heaven forbid) should die... is it really fair and common sense to punish the other if they suffer financial hardship and fall into arrears even when trying to do whats best?

[Deleted User]

NSV wrote: »

I rent throught an estate agent and my understanding was agents now include rental payments on credit files?

Experian have been banging on about including them on their files for years but I'm not aware that it's gained any traction. I doubt there's much appetite amongst estate agents.

NSV

What I feel is ludicrous and lacks common sense is the fact that my partner is more "financially attractive" alone then the two of us together?

Its a computer system and I understand you fail or you pass... Its just my view that circumstances not taken into account is ludicrous when all my other credit history is good (including unmissed rent for the last 6 years) All that is registered and looked at is the 2 year spell from divorce to selling the house.

Time heals... is all I see

Ebe_Scrooge

NSV wrote: »

Multiple payments were missed ultimately because we divorced and hence had to sell eventually... this was understood by all parties. This is unfortunate, but the fact is you missed payments. Any future lender will be interested in only the facts, not the reasons behind them. On your score then everybody is a risk as anybody could unfortunately divorce. Everybody "could" divorce, but not everybody "does". You only become a risk when you have shown a previous history of missed payments. If a spouse (heaven forbid) should die... is it really fair and common sense to punish the other if they suffer financial hardship and fall into arrears even when trying to do whats best? This is the reason that many people take out life insurance, specifically to prevent the surviving spouse from suffering financial hardship. Like any insurance it's optional, but if, heaven forbid, you end up needing it then it's worth every penny.

My thoughts above. I'm not intending to be patronising, rather just trying to point out the facts.

NSV

Appreciate all your comments. Thanks.

Doctor_Duke

How long has the Mortgage been settled for on your credit files. You mention 6 years, the history will be removed after six years altogether but the 6 years is from the settlement date of the debt.