Lenders Who Only Use Experian

mystic_bertie

Guys :cool:

I am needing to apply for a mortgage asap. Im a LTD company self employed contractor. Some details are incorrect on my Equifax and Callcredit reports. Experian is absolutely fine. I have only been contracting for 16 months and so the likes of Halifax wont touch me.

I have written to the FOS to get the details corrected but this may take time.

Can you tell me what lenders only use Experian or suggest who i could check with. The brokers dont have this information.

There is an article on MSE but its incorrect, it says Nationwide only use Experian, i called them and they said they use all 3 companies for credit checks.

Many thanks

[Deleted User]

Have you raised the discrepancies with the CRAs? Going through FOS would seem to be taking the long way round.

What sort of details are incorrect?

mystic_bertie

Deleted_User wrote: »

Have you raised the discrepancies with the CRAs? Going through FOS would seem to be taking the long way round.

What sort of details are incorrect?

I cant go into specific details but i was advised this was the next step.

For now i just need to know who uses Experian only. My situation is not going to change any time soon and i just need to apply with my current situation.. Either that ill end up on a rubbish rate.:(

amnblog

Sounds like you are dealing with the wrong Brokers.

Why are you doing their job for them?

I can think of about 4 lenders who only use Experian. Not sure any of them will work off of your day rate.

Would be a lot easier to have CC and Equifax resolve the incorrect information on your files with them.

mystic_bertie

amnblog wrote: »

Sounds like you are dealing with the wrong Brokers.

Why are you doing their job for them?

I can think of about 4 lenders who only use Experian. Not sure any of them will work off of your day rate.

Would be a lot easier to have CC and Equifax resolve the incorrect information on your files with them.

I would have thought that brokers would know who uses who with credit reference agencies but it appears that is not the case.

Im doing the chasing because i want to get things moving asap. I already had a broker waste 3 weeks of my time, when he finally got round to doing an application, he then read the form and all my details, only then did he realise i was a LTD company self employed contractor, he said this changes everything and needs to pursue other avenues, he did not like it when i told him i had already informed him of all this on our initial phone call, he denied it and basically said he was bailing out on me. What a useless liar. He is clearly not paying attention, i had to keep emailing him for updates and then he says he never got my email, it all looks b/s.

VFR-Rider

Then get a different broker? I'm a contractor and the broker I used was faultless on a complex case with tight timescales.

He even did all the legwork for renewals even when he had absolutely 0 skin in the game. Get the right broker rather than hit & miss.

mystic_bertie

VFR-Rider wrote: »

Then get a different broker? I'm a contractor and the broker I used was faultless on a complex case with tight timescales.

He even did all the legwork for renewals even when he had absolutely 0 skin in the game. Get the right broker rather than hit & miss.

That would mean phoning quite a few brokers until i found one with none fees or reasonable fees and that know what lenders use experian, i dont have 2 years books this narrows things down. I need a lender that uses experian, this narrows things down. It seems some brokers need to look into things first, they dont know who uses Experian only.

mystic_bertie

I contacted a broker called The Mortgage Brain. The woman says my situation makes it tricky because i only have 16 months as a contractor and my earnings are not high enough for some lenders. She has suggested trying Nationwide and hope that the discrepancy is not an issue.

Smevchenko

Good Luck with that. We had a mortgage application turned down with Nationwide based on a settled mobile phone default of £50. We had already paid ~£1200 in fees and then Nationwide pulled out after already agreeing. What a great time that was!

mystic_bertie

Smevchenko wrote: »

Good Luck with that. We had a mortgage application turned down with Nationwide based on a settled mobile phone default of £50. We had already paid ~£1200 in fees and then Nationwide pulled out after already agreeing. What a great time that was!

Thanks for the heads up. What was the fees for and did you get them back?

Smevchenko

It was about 5 years ago to be honest, I would like to think Nationwide are not quite as harsh when it comes to settled defaults. The fees were for conveyancing and valuations etc, not paid to Nationwide, but we lost the money. Tried to get them back from Nationwide as we were only at that stage because they had agreed with us to lend the money. Needless to say, I don't have much love for Nationwide any more.

Hoping to finally get a mortgage soon, put us off for a while, but want our money to be going towards something now.

Good luck!