Strange Loan Application problems

dazeh

Hi there all!

So, i am currently at my witts end. Lately i have been trying to apply for a loan and it has been a complete nightmare.

I'll start from the start. Last year we moved house; shortly after we decided to apply for a loan with Santander. The loan got declined, i shrugged it off and decided to investigate a little more.

I learned that you could do soft searches, which would have saved a bad mark on my credit report. So i did some soft searches and saw that i was getting 0%-20% eligibility chances. Concerned, i got on the road to improving my score and fixing everything negative.

This was going very well, i changed my address with the electoral roll and this seemed to go relatively painless.

Once almost all of the negatives were gone, i began searching via soft searches again, but to no avail. I was still getting my 0 to 20%.

So a while later after reading lots online, i decided to try again. But due to force of habit, i put my old address in. I started to get 50% and upwards. I ecstatic, until i put in my actual address. The low numbers came back. I read online that your address shouldnt effect your chances!

I started to try and pin point what is going on, as no loan provider will look at me. I have narrowed it down to Call Credit. I hope this is the last step in this ordeal.

They were still reporting my address as my old one. I have since got this changed, my noddle report refreshed....but...the new address wasn't on the report and it said that i have NO history at all of ever being on the electoral roll?

I am completely bewildered by all of this and i would love to chat to someone who has experienced this as well.

Is there anyway i can see why the application is getting such a low percentage?

This would stop me from swinging in the dark.

Also, any help or information would be greatly appreciated.

[Deleted User]

Post details of your circumstances - debts, limits, incomes, payment history - and we can take an educated guess.

You'll need to review the data (not scores) on all three files.

dazeh

I have about 2.5k on a credit card along with 1500 on an overdraft, I also have no other loans.


I have a good credit history in general, never missed a payment etc.



I am in a full time employment earning 22k+ a year.



Using checkmyfile they say that Call Credit says i am still not on the electoral roll, would not being on the electoral roll on one credit agency have an effect like this?

Dobbibill

Raise a dispute with 'Noddle' if your address is not updated on the next refresh next month.

[Deleted User]

If the lenders use Call Credit, yes.

Is your credit card debt interest bearing, or on a promo?

Living in your overdraft is a big negative. It tells lenders you don't have any disposable income, so can't afford further debt.

dazeh

Hi Dobbi, I already did. But it still hasnt changed. They said it was completed successfully as well. Waiting to contact them tomorrow. So annoying that you cant pick up the phone to them.



Zx, Yeah i completely undesrtand. The monthly payments are fine and dont bother me in the slightest. I even pay off large lumps every so often.

BoGoF

As above, being £1500 overdrawn is a big red flag to any potential lender. Why are you constantly overdrawn. Getting rid of that must be your priority.

dazeh

Yeah, but surely this would have an effect regardless of my address. Currently when i use my new address i get a bad chance of getting credit, but if i use my old address then i get a good chance of getting credit

Its really weird and i just can figure out why this is happening.

[Deleted User]

Address stability may be the issue there.

BoGoF

Theres no point dwelling on the whys. You dont live at the old address anymore and from your other posts you were actually considering applying under your old address?

As zx81 has just said you have less time at your current address which is in itself a negative.

bazzyb

How much are you looking to borrow?
What is the purpose of the loan?
How much are your monthly mortgage payments?
What is your overdraft limit?
What is your credit card limit?