What can a mortgage provider see?

Thrugelmir

Giddykipher wrote: »

I've applied for a mortgage and it's been declined because the bank can apparently see something serious when they credit searched me.

What precisely did the lender write when declining your application.

Giddykipher

I'm not sure what they wrote tbh, he just rang me to say a decline.

jonesMUFCforever

What about any betting transactions or Payday loans?

Mummyto4kids

This exact thing happened to me. We applied for a mortgage via a broker back in November 2015 - experience showed me having an excellent "score" and all accounts up to date. How ever the Halifax came back saying could I explain the adverse information. The broker was baffled as was I because he had access to my credit report online and couldn't see the issue either. I called experian and spoke to a manager who said that there was adverts information but I couldn't see it because they don't add alias information unless you have given written authorisation - they hadn't mentioned when I signed up for their service that it was needed. After a few days going back and forth they finally got me a full report including my previous name from before I got married 5 years ago and there was an old settled default relating to a complaint about unfair bank charges. Halifax were happy when I explained it and our offer followed a few days later.

In short if you have any alias names, previous addresses or financial associations then the lenders can see them but you possibly can't - your statutory £2 report will show them and now that's all I'll ever use - I've cancelled my Experian membership!

GingerBob_3

Mummyto4kids wrote: »

This exact thing happened to me. We applied for a mortgage via a broker back in November 2015 - experience showed me having an excellent "score" and all accounts up to date. How ever the Halifax came back saying could I explain the adverse information. The broker was baffled as was I because he had access to my credit report online and couldn't see the issue either. I called experian and spoke to a manager who said that there was adverts information but I couldn't see it because they don't add alias information unless you have given written authorisation - they hadn't mentioned when I signed up for their service that it was needed. After a few days going back and forth they finally got me a full report including my previous name from before I got married 5 years ago and there was an old settled default relating to a complaint about unfair bank charges. Halifax were happy when I explained it and our offer followed a few days later.

In short if you have any alias names, previous addresses or financial associations then the lenders can see them but you possibly can't - your statutory £2 report will show them and now that's all I'll ever use - I've cancelled my Experian membership!

It will show the links/associations - some of which may well be lies - but does it show what's behind the links? For example; you have a financial association posted (illegal or otherwise) but do YOU get to see the information about the associated person, and does the Experian customer get to see it?

GingerBob_3

jonesMUFCforever wrote: »

What about any betting transactions or Payday loans?

Where do they show up?

Stigy

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????

A relatively new credit card can have a negative impact, and as this is coupled with a credit search, which also knocks your report for a few months. If everything else is in good order though, it seems harsh to knock you back for this alone.

Thrugelmir

Giddykipher wrote: »

I'm not sure what they wrote tbh, he just rang me to say a decline.

Then

I've applied for a mortgage and it's been declined because the bank can apparently see something serious when they credit searched me.

You may be totally off the mark. There's no automatic right to a mortgage. They can decline your business for any number of reasons without telling you why.

jonesMUFCforever

GingerBob wrote: »

Where do they show up?

On a bank statement if he was asked to provide them as part of the mortgage application.