Credit rating, footprint and timing

Brassman

We are learning the hard way.

Problems with securing a mortgage.

We are having some issues with securing a mortgage. Its an issue of timing.

My rating has been very poor and relates to running up some credit card debts (due to an underpaid and irregularly paid job I'm now out of. Now in a very good job with better salary with bonus's and car allowance) ).

I have recently paid the credit cards off and am starting to get letters and statements confirming they are paid off and shut down.

I've spoke with Equifax and they have had a number of updates recently but not all accurate. One is still way out of date showing £6k when I know its £0.I spoke with a nice lady at Equifax (after having been given some standard uninterpretable info from a rank and file member and I insisted on being pushed up line). This lady did advise I could try speaking to whoever at the credit card company communicates with Equifax and get them to speak to and email the 'Amend Department' with some updates.

But even if I do this, I think I now have another problem, I've had four searches done in the last two months and this I think, is what's killing the deal.

We were advised to go with a 5% deposit and in hindsight, although it would have been tight, I think we should have gone with 10% as I understand this would have been less stringent.

So two questions is there any value in me spending time communicating with the Credit card Companies to get updates sent through to Equifax/ Experian, would I be able to shortcut the usual 6 weeks notification period? But....

Even if I did, has the number of searches done now Kiboshed any chance of getting a decent Mortgage for the next 6/12 months?

Thanks Bombast1cB

ACG

Obviously I am biased, but have you thought about using a broker?
There are lenders out there who do not credit score.

Thrugelmir

Brassman wrote: »

I've spoke with Equifax and they have had a number of updates recently but not all accurate.

Can take some weeks for information to be updated. As not real time. Be patient and the matter will resolve itself.

GeoffSpar8

I tried to get various lenders to update faster than the usual first of the month, but to no avail. All refused or claimed not to know how to do it.

amnblog

This credit file updating is a red herring. If you have paid debts off and can prove it, most Lenders will ignore them.

To be frank - you are trying to manage a situation without sufficient knowledge of how it works. Best to let an experienced person guide you through this.