Removing mortgage debt from credit file - sold house 2018 - Landmark

happyhelston

Morning - we had a sticky end to our house sale - the house was voluntarily surrended - we knew that after the house was sold we would have some residue money owing to Landmark Mortgages but since then despite writing to them in August 2019 and the house selling in September 2018 my credit score either shows the full amount with one score or the residue with the other.

This has caused no end of issues with my ability to obtain any sort of credit and despite being financially secure now banks are telling me that this on my score has affected my ability to borrow during the Coronavirus and I have been refused Self Employment help for my business.

I know this is my fault at not tackling Landmark sooner but having had years of them it has been emotionally nice to not have to speak to them but I now really need this clearing up.

Can anyone give me the absolute best way of getting this sorted - is there something official that I could get them to read to make them sort my score out ??

Regards as always

Stay safe

Becky

onlyfoolsandparking

Don't worry about your 'imaginary' score nobody sees it apart from you and its not used by lenders in factoring risk. Is there still any amount outstanding on the mortgage or did you clear it in full? That might be your starting point. 

MEM62

Did the proceeds from the house sale clear the outstanding mortgage or do you still owe the lender money?  

happyhelston

onlyfoolsandparking said:

Don't worry about your 'imaginary' score nobody sees it apart from you and its not used by lenders in factoring risk. Is there still any amount outstanding on the mortgage or did you clear it in full? That might be your starting point. 

There was an amount of approximately 50k (i say approx as they dont communicate with you once everything has sold) - We assumed they would come to us for it at some point - shall wait for that enjoyable message.

Landmark took over from Northern Rock and if I was rich Id have it forensically looked at, Im sure they didnt act correctly but that might be me just being bitter !!

I have had lenders quote the mortgage as a reason for refusing me credit so Id assumed it had some bearing ?

Regards

happyhelston

MEM62 said:

Did the proceeds from the house sale clear the outstanding mortgage or do you still owe the lender money?  

We still owe them money - not sure of the exact amount (possibly 50k not ever given any final amount once house sold - you have no right to ask apparently ?) which one of my credit scores shows but the other shows full balance.

Becky

onlyfoolsandparking

So is the £50k (approx) still outstanding?  judging by what the other lenders have said I'm gonna assume it is and there is your issue. 

RelievedSheff

You still owe the money so you can't just have it wiped from your credit file!!

MEM62

As had already been mentioned.  If there is a debt outstanding to the lender, this will remain on your credit history.  You need to speak to the lender to work out a way to resolve this.  

Thrugelmir

happyhelston said:

onlyfoolsandparking said:

Don't worry about your 'imaginary' score nobody sees it apart from you and its not used by lenders in factoring risk. Is there still any amount outstanding on the mortgage or did you clear it in full? That might be your starting point. 

I have had lenders quote the mortgage as a reason for refusing me credit so Id assumed it had some bearing ?

Unfortunately yes. The whole purpose of credit files being to allow lenders to assess an individualls suitability for credit facilities. 

maxximus75

Even with it paid, the history will still stay on your reports for at least 6 years.

MinuteNoodles

happyhelston said:

Can anyone give me the absolute best way of getting this sorted - is there something official that I could get them to read to make them sort my score out ??

Regards as always

Stay safe

Becky

There is nothing you can do to have it removed from your credit record if it is a true representation of the facts. As you've not repaid the outstanding amount then it is a true reflection of the facts. Even if you repay in full tomorrow the entries will remain on your credit file for 6 years after they were put on.