Mortgage Advice Please!

scoleman99

Recently looked into getting a mortgage, ran a credit report and come up as very poor. This is due to one utility account, final bill left unpaid (£70) for over 6 months. On leaving tenancy the company in question agreed I was not responsible for the bill and it lay with the other tenant. Long story short, they've screwed me over and now I have a shot credit rating and they 'cant' (won't) do anything about it. This is one account that was left unsettled for a few months and I have 12 or 13 other accounts with a perfect history. This is the only blot on an otherwise perfect record.

Is there anything I can do to raise my chances of getting a mortgage short term? Credit card would help long term but if there is any advice for anything I can do short term it would be much appreciated!

Thanks in advance,

Paulo123

You can manually enter a notice of correction on your credit report. Not sure how much of an effect this has but I did this and they removed the issue I had

ACG

Dont add a notice of correction. It can make the computer systems doing the credit check fall over resulitng in a refer when an accept may have been automaitcally given.

When were the late payments?
Have you filed an official complaint with the energy company? Do it, no harm done either way your end. There is only the potential for a positive.

Depending on the loan to value and when the arrears were there could be lenders.

scoleman99

Thanks both. Added a notice of correction a couple of week ago. The account was closed over 18 months ago, payments due from late 2013 to early 2014. Been through the complaints procedure with the company but they said they cannot do anything. Thought about trying to appeal through the Ombudsman but not really sure it will be worth the time / effort. Looking at either 90 or 95% LTV. High but all we can afford right now. Saving will take time so looking for a quick fix if there is one?

Thrugelmir

If the account was in your name. Then it's your problem unfortunately.

ACG

There are lenders who will look at it at 90% LTV, you would have more options with a 15% deposit. In either case I think rates are likely to be above the "norm" but it probably is one for a broker.

Get your credit reports, if the broker does not ask for them find another. Some brokers will just do speculative credit checks with lenders and that will not do you any good.

scoleman99

It was a joint account. At the time I was told I could pay half, which I did, and the other tenant would be responsible for the other half. Ultimately, I paid the remainder after he ignored all contact, but this was nearly a year after the bill had been issued. Was told repeatedly during this time that I wasn't responsible by the company, but apparently there is no record of that on their system. Shafted in a big way over £70!

Paulo123

Just got 90% on a 350k mortgage at 2.49 fixed so it is possible