Credit rating change

Marjon

My Daughter and son in law are in the process of buying a new build apartment with the government help to buy scheme.The move date should have been end of February but due to some construction issues it was put back until the end of April.Between February and now they have been informed that due to a.change in their credit rating they need to increase their deposit by another £18k.Nothing has changed in their financial situation except that my son in law changed his mobile phone contract for another but is still paying exactly the same per month for the new phone as the old one.Their mortgage was source by a broker and the company have told the.couple that this new contract and other issues are the reason for the demand for the extra £18k.To look into their credit is not advisable as this will have a further negative effect on their rating.Can anyone shed any light and advice on this problem please?

StopIt

Looking at their credit reports has NO effect on their rating so whoever told you that is a complete lying *bad word here*


Get them to check their credit reports on ClearScore, Noddle and MSE Credit Club (All free) and make sure something hasn't popped up like a default or CCJ. Failing that? Go to a different broker. Alas, no, nobody here can tell you why this broker has upped the deposit requirements by £18k. I'd be asking what these "other issues" are.

MEM62

To be clear, who told them this?

Also, what has changed in the interim? You mention 'the new contract and other issues'. The contract is not new, it is postponed. And what 'other issues'?

The information is too vague to form an opinion.