Feeling deflated

AllyT90

Thanks Blade200.
Mines isnt a debt though, it was just a missed payment for £34 which was paid as soon as I realised but then the bank put a charge on the account of £57 for being overdrawn, which I didnt realise for almost 2 weeks but paid it immediately when i found out.
So there is no outstanding debt, other than about 2000 on a credit card which i have never missed a payment on.
So confused with the whole credit score thing to be honest, I think its all pot luck depending on each banks own procedure for checking credit!

Blade200

I hope you get sorted! I'm sure it's been a very stressful time!

The thing is it was an unfortunate turn of events when she was made redundant. She has never missed payments on anything else.

AllyT90

Ah gosh thats rough.
Its so unfortunate when it happens to people that made a genuine mistake or due to unforeseen circumstances.

My partner was bankrupt 4 and half years ago so our application is solely in my name. It wasnt out of carelessness, he worked very hard but he was in the construction industry and when the recession hit, alot of his assets dropped significantly in value.
Its very unfortunate as he has spent the last 4 years paying off over £75,000 and is now free debt free, but the fact he was able to pay that off through working again stands for nothing on your credit score. its ridiculous really!

Fingers crossed we both get there in the end!

ACG

AllyT90 wrote: »

Ah gosh thats rough.
Its so unfortunate when it happens to people that made a genuine mistake or due to unforeseen circumstances.

My partner was bankrupt 4 and half years ago so our application is solely in my name. It wasnt out of carelessness, he worked very hard but he was in the construction industry and when the recession hit, alot of his assets dropped significantly in value.
Its very unfortunate as he has spent the last 4 years paying off over £75,000 and is now free debt free, but the fact he was able to pay that off through working again stands for nothing on your credit score. its ridiculous really!

Fingers crossed we both get there in the end!

There are lenders with high street rates who would lend to you both now.

AllyT90

Thanks ACG, are you able to name any of them on here?
I didnt think my credit was that bad to be declined so quickly.
Would most high street lenders not still consider someone if all they have on their credit file is a few late payments?

Thefutureisbright

I've been rather quiet on here of late so I thought I'd give you a little update as to where we are at (if anyone's interested, that it!😊)

So we changed broker and so far so good...

We hit a hurdle in relation to the house we are 'purchasing' and planning permission for the garage which I wanted sorting before we proceed any further. That was all resolved this week so week before last, we asked our broker to get the ball rolling and see what we could find. We are paying our broker a fee and in all honesty, I feel he has been more proactive in the search for us than the broker we were using previously who didn't charge...coincidence? Probably not...

Anyway, he has come up with an 85% LTV mortgage with Precise at a MUCH better rate than we were looking at with our old broker with Kensington and are looking at an interest rate not far off what we are paying on my husbands current mortgage with Halifax. Soft search done, documents on top of documents sent (so far, nothing too OTT: 3 months of bank statement, my husbands SA302s, my P60, memo of sale to prove house sale and deposit from equity, my employment contract, 3 months pay slips and the usual ID). We've hit a wall today as Precise are saying that the solicitor we are using isn't on their panel of solicitors which my broker has disputed as it's a regular solicitor he uses and has used them with Precise before. He has assured me it's a clerical error and will sort on Monday, also assuring me that this shouldn't cause any delays (I live in hope...just about!)

As long as all is sorted with the solicitor issue on Monday, full application will be submitted then all being well, we should be on the way to finally getting this hellish issue sorted!

Is anyone else using Precise or had any dealings?

Torfoxwell

ah glad to hear that you are getting along OK its such a bumpy road isn't it - we out in our mortgage application yesterday and theyve asked for one months payslips from us both and proof of benefits..

Thefutureisbright

Hurdle #438...


The solicitor who we have been using for both our sale and purchase is no longer on the panel for Precise due to a 'staffing issue' (your guess is as good as mine as to what that translates to!)


So I'm now in the process of finding out what I'll be charged by the solicitor for the work they have done so far so I can change the Solicitor. My broker is of the opinion that is the error of my Solicitor as they should of disclosed that they were no longer on the panel but the Solicitor is saying they were not made aware they had been taken off.


When will this all end?!?!?

ACG

The cost of the work they have done should be minimul. The bulk of the costs will be searches which can be transferred over to the new solicitor.

I genuinely feel sorry for you, but look at the positives.... You have your mortgage offer which is more than you had when you started the thread

Torfoxwell

Dont be glum chum , like ACG said youve got your mortgage offer