999 credit score - but always refused loans?

macman

The hard question that has to be asked is: given the substantial disposable income that you have coming in monthly, which I calculate to be in the region of over £5.5K monthly, where is it all going? You should be able to clear the CC debt (unless it's interest free) in a matter of months, and overpay on the mortgage. How much are you paying monthly on servicing those two debts?
It's not about credit availability, it's about expenditure.

MinuteNoodles

dresdendave said:

Our household income is a third of the OPs. I bought an ex-demo car last year in cash for £16k. But then again I'm not paying interest on £19k of credit card debt.

I read it that the OP has £4.3k CC debt but a limit of £19k.

My bad. I'll edit my post.

jimbo26

None of this answers the OP's original question. Based on the info Experian have it does seem strange that you were unable to get a loan. Have you checked the other two CRAs, it's possible one of those has some negative info on it that is affecting you.

supersparky2000

Hi, what is the credit limit on your credit card? As far as i know, although your credit utilisation is low,  you still have access to the full credit amount. I think with that,  the mortgage,  might seem like too much to take on according to the underwriters? Rememberyour credit score is a good way of gauging whether you would be accepted for credit,  but the final decision is taken by the underwriters issuing their own scoring system. 
One other thing,  now i don't know how true this is,  but they also look at how likely it is that you will pay it off quickly,  if to fast then not much money to be made and therefore refused?

sefor

I had a similar issue and it was my available credit that was the issue. Reduced the credit limit on my credit cards and problem was solved. Also cancel any cards that you don't use. I suppose they don't know you're not going a max out your credit cards overnight. Good luck.

mizi

Only problem I can think is cifas,you have to look in to it yourself because they will not tell you 

bazzyb

What do you do for a living? 

A number of lenders have restrictions on particular industries and job roles at the moment, regardless of how good your credit history is. 

peabee1

I used to work for Experian's credit expert customer services and would answer these kinds of questions daily. Before I start it is worth saying these are strange times and lenders will have adjusted their criteria to be more wary than before and most likely they will have flagged customers who work in certain sectors as being more at risk of redundancy due to covid 19 so it could just be that.
So on to the advice... From the figures you've provided I'd be surprised if it's anything to do with the debt or income you've told us about. It sounds like something you can't see or is missing. First off check which credit reference agency the finance firm checked and if it's not Experian get the report that company has on you. Then check the following things... That you're registered  to vote at your current address (and you can see this on the credit report). Then check the linked addresses in your report. Any you don't recognise contact Experian immediately and dispute then.  Add all the addresses you've lived at our had credit at within the last 6 years in to your profile to see whether there is still information about you there - when lenders search they get the data on your name at all linked addresses; this is often the answer to mysterious turn downs. Next check if there's any CIFAS information on your report and if there is read what it means. Next check who you're associated with on the report - anyone you no longer hold a joint account with, contact Experian to get a dissociation, then ask anyone you're still associated with to check their report - any bad history in their name could be responsible.

I think that's about it. I hope you find the issue. If you don't you can always call Experian and ask them for some pointers on your refusal. Easier for them than for me flying blind!

And if all else fails speak to the lender and ask them to manually underwriter your application. You have the right to be taken out of automated decision making, and if they still turn you down they should be able to tell you (at least in broad terms) why

Apollo14LMP

Rather than raise a new thread - I note Peebeal above stating that lenders are given access to previous credit scores and data from six years / and or any data at a "Linked Address" is this how the CRAs blacklist you ? I thought that they were not allowed to pass data that was older than 6 years - I keep getting mysterious refusals and I was the victim of fraud the accounts that I was unaware of were removed by Lowell as deemed to not be mine. 
How can one challenge these mysterious refusals if one cannot see them in the first place. If they are older than 6 years .... Linked addresses can remain indefinitely how does that come about ?
This CRA thing is not transparent I am afraid they are often wrong !
I hope someone can help me to clear this up ? thank you
 

Batesy1976

Apollo14LMP said:

Rather than raise a new thread - I note Peebeal above stating that lenders are given access to previous credit scores and data from six years / and or any data at a "Linked Address" is this how the CRAs blacklist you ? I thought that they were not allowed to pass data that was older than 6 years - I keep getting mysterious refusals and I was the victim of fraud the accounts that I was unaware of were removed by Lowell as deemed to not be mine. 
How can one challenge these mysterious refusals if one cannot see them in the first place. If they are older than 6 years .... Linked addresses can remain indefinitely how does that come about ?
This CRA thing is not transparent I am afraid they are often wrong !
I hope someone can help me to clear this up ? thank you
 

Linked addresses don't remain indefinitely and they're not the reason why you're being refused credit.  There is no law that says companies can't retain data past 6 years either.

You're acting a bit like a clingy-ex who can't accept it's over.  You got knocked back by a lender, it happens. Move on.