Default correction - Advice needed

alextincombe

So.... went to renew mortgage product (on a second property BTL), broker found really good deal, went to put it through and it was declined. Turns out there was a default file on credit score from 2016 - on both mine and my wife’s - we were not aware of it (from Welsh Water); it had been settled but no one had said it was on there (it was linked to a temp address we used when waiting for our home to complete a while back). Subsequently had to stay on a higher rate BTL mortgage product and keep term the same (was about to reduce it). Initially challenged Welsh Water and they did not shift position (settled amount/default was £68.22). Probably wrote 6 letters back and fore. We knew that it was filed accurately and process was not adhered to in full. Luckily my file knows how to draft a letter pretty well so I got hold of every board members name and sent each one a letter outlining everything! They completed a second board review and accepted that they didn’t do enough to avoid situation - removed default straight away (both credit scores back to 999 as no previous issues). We are now 3 months after the mortgage decision so what’s done is done I assume! I suppose my question is: is compensation applicable here? I did say in last letter to Welsh Water that the time, stress and effort was ridiculous but keen to remove it and draw a line under it. But can’t help to think we were shafted a bit! For want of a better word!!!! Any help appreciated!!!

alextincombe

That should read: we knew it was filed ‘incorrectly’

[Deleted User]

No compensation is due.

And ignore the 999 scores as they’re not real.

alextincombe

Blunt. I can only assume you work in finance. Or a utilities company.

[Deleted User]

No - allow me to explain though;

So the 999 scores and ratings from the CRA’s aren’t real or seen be lenders so can be safely ignored.

As for compensation - why do you feel you are due it? For what amount?

alextincombe

Purely a question, as to an amount, hadn’t put a number on it as was u sure if it was a feasible option....

As for the Credit Rating, I wasn’t aware that the number was so insignificant. I assumed it was a key indicator but clearly a medium for us naive consumers!

[Deleted User]

It’s a gimmick to sell you “improvement” products.

If you’re paying Experian or Equifax a monthly fee then I suggest you cancel them

If you have no number in mind then I guess you’re not due any

alextincombe

Thank you for your advice.

jonesMUFCforever

I agree with previous posts - you did default with Welsh Water - no compo due.