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Offer accepted - Credit report problem
ashp_2
Posts: 416 Forumite
We have had an offer accepted on a property we really want. I have just realised that there is still a 10k loan on my credit report which was actually settled 3 months ago.
I really don't want to loose the property and I am doing my best to get my report updated as soon as possible.
Anyone have any advice on this? The sellers are looking for a quick sale and we were ready to go quickly untill I saw this still on my report. I am dealing with this but it could take time to come off my report.
Should I just tell the estate agents the situation and delay the mortgage application until this has come off my report?
I really don't want to loose the property and I am doing my best to get my report updated as soon as possible.
Anyone have any advice on this? The sellers are looking for a quick sale and we were ready to go quickly untill I saw this still on my report. I am dealing with this but it could take time to come off my report.
Should I just tell the estate agents the situation and delay the mortgage application until this has come off my report?
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Comments
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Do you have proof you've paid off the loan - I presume you do! If so, present this to your broker/bank. The reports are largely meaningless to the banks - they do their own research on you, so just show them the loan has been paid off.Mortgage - £[STRIKE]68,000 may 2014[/STRIKE] 45,680.0
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We do indeed have proof it was paid in full and we have a letter from the bank to this effect. However my mortgage advisor is saying the mortgage lender (Santader) will take into account whatever is on my credit report and as we were making very high monthly payments would ruin our affordibilty resulting in a decline.
The bank are proving to be a bit of a nightmare getting our credit report updated with the loan settled.0 -
Do you have a broker or are you going it alone?Mortgage - £[STRIKE]68,000 may 2014[/STRIKE] 45,680.0
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I'd be really surprised if a broker couldn't sort this out. With the proof that you've paid it off, combined with bank statements showing you're no longer making payments, it's pretty conclusive...0
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The credit report that you see is usually out of date compared to the ones the banks see. Although you might see the loan, they might not. I know because I used several different companies and I could see a different report on each one! Not just a different number, different numbers of credit cards, amounts I owed etc.
From what I understand the banks have access to ones that are much more accurate or at least more up to date.0 -
ThePants999 wrote: »I'd be really surprised if a broker couldn't sort this out. With the proof that you've paid it off, combined with bank statements showing you're no longer making payments, it's pretty conclusive...
Exactly! and once this evidence has been sent over and if Santander is still having a problem with it them your broker needs to contact his business development manager for Santander who should fix the problem quite quickly. If a broker makes you feel uneasy then they mustn't be doing a very good job?I am a Mortgage Broker
This site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Strangely enough I had a dream last night that it had come off my report, checked my report as soon as I woke up and it had actually gone! Weird!
HSBC still not phoned me back. At least it sorted!0 -
Strangely enough I had a dream last night that it had come off my report, checked my report as soon as I woke up and it had actually gone! Weird!
HSBC still not phoned me back. At least it sorted!
Did any of today's horse races feature in your dreams?"Real knowledge is to know the extent of one's ignorance" - Confucius0
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