Can my ex-bank refuse this information in an SAR

ChrisBint

A number of years ago I entered into an IVA and completed it with no issues. My credit rating is currently good and now shows no references to the IVA. I recently went through a mortgage broker who mistakenly submitted an application to one of the creditors involved in IVA. The application was initially accepted but declined post valuation. A call to the creditor confirmed it was in relation to a debt that was written off.

For my own reference, I intend to submit an SAR and would expect them to show this information, especially as it was used recently to decline the application. Can I expect this to not be a problem? Appreciate this might be a far reaching question, but initial thoughts would be appreciated.

If they should, and are not, what recourse do I have?

Thanks in advance

jonesMUFCforever

How far back was the IVA?
If more than 6 years they might not keep any information?

Recourse for what?
If what they have done is factually correct then as far as I can see there is no recourse?

ChrisBint

The IVA was completed about 2 years ago, so it was started 8 years ago.

They obviously do keep this information as they explicitly told me that was the reason for mortgage application decline. None of this shows on any external credit checks that I have used.

The recourse bit was a presumptuous, what if they did not disclose the information I know they have was what I meant.

Thanks

[Deleted User]

You could ask them why it was not supplied and to subsequently supply it.

There's no reason to suppose that they will not supply it. It's not a secret from either party.

[Deleted User]

You don't have a right to credit and a lot (but not all) credit companies do keep records to decline future business if you defaulted on them. A SAR won't reveal a commercial decision in the same way a bank is not obligated to share credit decisions with an individual.

If you think about it, would you lend money to someone again who didn't pay you back the first time? There are plenty of other mortgage providers out there so I think you will need to stick to them.

Thrugelmir

ChrisBint wrote: »

They obviously do keep this information as they explicitly told me that was the reason for mortgage application decline. None of this shows on any external credit checks that I have used.

Nor will it. In this instance the previous account conduct has infringed one of the lenders own internal policies. There's no right to mortgage. A lender doesn't have any obligation whatsoever to do business with you. Such internal policies are regarded as commercial decisions and do not have to be publicly published.

nic_c

And what are you expecting from the SAR? Some big note saying to avoid you as a customer. All it will show is notes and any correspondence. If they have it noted that you had debt written off then that is factual and it could be used for future decisions.

An IVA isn't a magic solution meaning you can run up lots of new credit, so don't get indignant if you get refused credit now. That's not what its for,

shortcrust

I'm not sure what the question is...

Lenders are perfectly entitled to keep their own data about previous customers who they don't want to touch again. There's no time limit.

ChrisBint

@camelot1971. I don't expect credit, I do expect them to tell me what information they store about me.

@Thrugelmir I know that and completely understand, I am simply looking for them to tell me what they do hold and was curious about that.

@nic_c I am expecting them to show me what information they currently store against me, nothing more, but nothing less either.

@shortcrust I am not sure that is a valid statement now, and less likely to be come GDPR.

chattychappy

@isthisnowtwitterorsomething?

robber2

GDPR will not stop them keeping data on you until the end of time if it can be justified. I suspect its not what you want to hear but the fact that you failed to keep the the Tc and Cs of a contract will always be commercially useful information for them to hold.

Shortcrusts statement IS still valid .

regards

Rob