Mortgage App - Late Payments...Help please!

talulah25

David_White wrote: »

In light of this I would suggest you consider finding a new broker and cancelling the notice of correction.

Can he cancel the notice of correction if BG already have sight of it? According to the call centre advisor last night they got it 2 days ago and it's with their data disputes team. We're not looking for a miracle, just for BG to change their reporting to reflect it was one late payment, not 6. If they change it to one missed payment back in Feb 2012 it would surely look a lot better to a mortgage lender?

Seems daft that we may have a better chance of mortgage if they had just defaulted him (although he still disputes he owes the money at all) all those years ago, there would be no adverse behaviour in 5 years and 9/10 months and it would fall off his credit file soon. As it is, it's being updated every month, the debt is now statute barred but a debt he has never been informed of could have a negative effect on his credit file for as long as BG decide to keep reporting on it...hardly seems fair.

David_White

Whoever you have requested the NoC from (BG, Equifax etc) I would just ask them to not do it.

You are right in that this is one of those scenarios where actually having a default would probably have had less of an impact as it's a lot easier for a lender to differentiate between a historic issue and a current issue that way.

talulah25

David_White wrote: »

Whoever you have requested the NoC from (BG, Equifax etc) I would just ask them to not do it.

You are right in that this is one of those scenarios where actually having a default would probably have had less of an impact as it's a lot easier for a lender to differentiate between a historic issue and a current issue that way.

Thanks, David. OH has called Equifax and asked them not to do Notice of Correction so that's it halted immediately. British Gas have said he can either pay the o/s balance and the account will come off his file in February 2018 or if he doesn't pay anything, they will continue to report as late payments until who knows when. Mortgage broker talked to Natwest, they've said they are amazed the AIP was given with this on his CRA file. He's now had a decline from Natwest due to this and a decline from another lender (who accept adverse credit) on affordability as interest on that one was over 5.5% so monthly payments a lot higher.

Could cry right now, facing the very real prospect of being homeless within 4 weeks and our dream house is unattainable.

JaneyLouWho

Can you not pay it off and then raise a complaint with BG demonstarting that you were unaware of the debt, have paid it off when you became aware, and explain the detrimental effect this is having on your ability to obtain a mortgage?

I recently found that I had arrangement to pay markers on an old barclays debt until 2016. I thought I had defaulted in 2008 so it should have been removed. Turns out they never defaulted the account, so it was legitimately there, but they agreed to remove it because of the negative impact it was having on my mortgage application. Once I'd complained it was off my credit files within 48 hours. Just goes to show that sometimes if you ask, you get.

talulah25

JaneyLouWho wrote: »

Can you not pay it off and then raise a complaint with BG demonstarting that you were unaware of the debt, have paid it off when you became aware, and explain the detrimental effect this is having on your ability to obtain a mortgage?

I recently found that I had arrangement to pay markers on an old barclays debt until 2016. I thought I had defaulted in 2008 so it should have been removed. Turns out they never defaulted the account, so it was legitimately there, but they agreed to remove it because of the negative impact it was having on my mortgage application. Once I'd complained it was off my credit files within 48 hours. Just goes to show that sometimes if you ask, you get.

Thanks JaneyLou, this was what we were hoping to do, the complaints handler from BG called back earlier to see if we wanted to make an arrangement to pay. I said we were taking it under consideration but that I needed a letter from them stating our complaint had not been upheld as the Energy Ombudsman will not take on the case until we have reached 'deadlock' with BG. He said he could not issue this but gave me the number for High Level Complaints, or Customer Relations as they call it. I plan to call them tomorrow and have another go at pleading the case, offer to pay and appeal to them to help us out. I have also been trying to find an email address for the CEO, there are a few success stories from people in similar situations after contacting the (PA of) CEO.

talulah25

Emails now sent to both Ian Conn CEO of Centrica and Mark Hodges CEO of British Gas, it's a long shot but I'm willing to try just about anything right now. Have offered to pay the full amount in final settlement immediately IF the derogatory status of the account can be removed as a matter of urgency as it is the only thing that's having a detrimental effect on his mortgage application.

JaneyLouWho

I think you ahould pay the debt rather than try to use promise of payment as a bargaining chip. Otherwise, why would they remove a legitimate 'black mark' from someone who avoids payment?

David_White

Don't give up.

You need to speak to a broker with expertise in adverse credit before your existing broker does more harm than good.

talulah25

David_White wrote: »

Don't give up.

You need to speak to a broker with expertise in adverse credit before your existing broker does more harm than good.

This broker does also provide sub-prime/adverse credit mortgages. He's gotten OH an AIP today but it's for £5k less than we need. It's over 5.5% interest too but only fixed for 2 years so presumably in 2 years time this will all be a distant memory and OH can remortgage at a better rate. Need to sit down with MIL tonight to see if she can gift him more of a deposit to cover shortfall.

I had replies from both CEOs this morning, case has gone to the Executive Complaints team and someone should be in touch very soon, still haven't given up hope on that so won't make any commitments until we hear from them.

talulah25

JaneyLouWho wrote: »

I think you ahould pay the debt rather than try to use promise of payment as a bargaining chip. Otherwise, why would they remove a legitimate 'black mark' from someone who avoids payment?

I think I worded that poorly, I never held them to ransom regarding the default, just gently suggested/asked if a full payment were to be made could that result in an allowance being made in favour of OH. He is not totally blameless, he didn't check his credit file...but neither are BG, they did not notify him of the debt.