What can a mortgage provider see?

Giddykipher

I've applied for a mortgage and it's been declined because the bank can apparently see something serious when they credit searched me. I have access to my files and there is nothing on there. I've never been bankrupt, had an IVA or criminal record. Firstly, what else could it be? and secondly, how do I find out what they have access to? It was via a Mortgage Adviser and they won't give him anymore information.

I'm worried that this is something I can't rectify and will never be able to move

If you've worked in Mortgages or have any inside knowledge, it would be appreciated.

Thanks

[Deleted User]

CIFAS marker? .

Arleen

It doesn't have to be something as serious as CIFAS or bankrupcy, but for example string of late payments, defaults, high credit utilisation, high credit altogether etc. All those things can get you denied.

So when you say that there is "nothing there", what exactly is there?

*~Zephyr~*

Have you checked your credit file yourself, using Noddle?

Sorry - just reread the OP and yes, you have. Doh!

High debts levels, late payments, too many credit cards - they can all scare away certain lenders.

Giddykipher

My credit has been impeccable for 6 years. There are no defaults, no late payments, I opened a new credit card 3 months ago which is all green as is everything else. My CC utilisation is 1%. It's the fact that they said it was something serious that scares me!!

What is CIFAS????

Giddykipher

Just looked it up and there's no CIFAS marker on there either. I'm worried they actually have me confused with someone else.

GingerBob_3

This illustrates one of the many failings of the CRA system. "There's something on there but we can't tell you what". Well what is it, you chumps! How can one possibly correct matters if there's no indication as to what needs correcting? The whole CRA reporting system, and its use by many and varied organisations, is systemically corrupt.

Giddykipher

I agree GingerBob it's so frustrating. I am so confident that there's nothing there, I'm inclined to believe they're lying!

Arleen

Giddykipher wrote: »

Just looked it up and there's no CIFAS marker on there either. I'm worried they actually have me confused with someone else.

You can raise a complaint if you feel that your loan application was unfairly treated, although not sure what good is that going to do. If you are sure that your file is clean, that what you've said on your application is correct and to the truth and that you can afford the mortgage then wait few months and re-apply with a different lender.

mwarby

Giddykipher wrote: »

My credit has been impeccable for 6 years. There are no defaults, no late payments, I opened a new credit card 3 months ago which is all green as is everything else. My CC utilisation is 1%. It's the fact that they said it was something serious that scares me!!

What is CIFAS????

Have you check all three agencies for negative info ?

HappyMJ

You may also want to consider a SAR (Subject Access Request) to National Hunter which might show up mismatches with the information you provided with this application.