Mortgage declined

Squibble

Hi,

Can someone advise please, I have great credit score etc but my mortgage was declined due to a marker on a prehistoric account. This is all I have been given as the reason for the decline. I cannot get hold of my broker as they are now on annual leave and I am stressed.:mad:

My partner is really annoyed with me as we have struggled to save the deposit and now this

I recall I may have had some debt but this is going back probably over fifteen years ago when I was younger and stupid and in love but I am sure it was all sorted. However, nothing adverse now shows on my credit report.

How would I be able to find out what this marker is? Do i need to contact the bank and find out what information is held or alternatively who should or can I contact for this information?

Is it worthwhile applying with a different lender or will this just lead to the same decision?

Thanking you in advance x

Thrugelmir

If you've applied to a finance house who you've previously defaulted on. Yes they could well decline your business. If you lent your best friend £20 and they made no attempt to repay the money. How would you feel if then asked to borrow £200.

There'll be other lenders in the market for you. A timely reminder though that historic actions can come to bite you when you least expect them to.

cjv

Contact a local broker, be open and honest with them about your finances and supply them with all 3 of your credit reports, they will help you out.

DCFC79

Squibble wrote: »

Hi,

Can someone advise please, I have great credit score etc but my mortgage was declined due to a marker on a prehistoric account. This is all I have been given as the reason for the decline. I cannot get hold of my broker as they are now on annual leave and I am stressed.:mad:

My partner is really annoyed with me as we have struggled to save the deposit and now this

I recall I may have had some debt but this is going back probably over fifteen years ago when I was younger and stupid and in love but I am sure it was all sorted. However, nothing adverse now shows on my credit report.

How would I be able to find out what this marker is? Do i need to contact the bank and find out what information is held or alternatively who should or can I contact for this information?

Is it worthwhile applying with a different lender or will this just lead to the same decision?

Thanking you in advance x

Despite your score being great it isnt a clear indicator of your history being great.

Check your history with all 3 credit ref agencies, lenders can only see the psst 6 years, anything past that they cant see so the issue over 15 years ago shouldnt be an issue.

BoGoF

DCFC79 wrote: »

Despite your score being great it isnt a clear indicator of your history being great.

Check your history with all 3 credit ref agencies, lenders can only see the psst 6 years, anything past that they cant see so the issue over 15 years ago shouldnt be an issue.

Unless the lender concerned is connected to the historical debt - they may still hold data.

ACG

Natwest/RBS by any chance? They are quite big at holding a grudge internally well beyond what your credit report shows.

There may be other lenders so it should not be the end of the world but the devils is in the detail for things like this.

Squibble

Thank you all for your messages and advice.

I will speak to my broker failing which I will find another and see if anything can be salvaged.

Thank you all once again x

Squibble

I have been left a vm and the bank have suggested that I should go in to discuss ? Is this normal? I don't want to re-open an old debt if that is what it is!!