Cash withdrawal affecting credit score

George2021

Hi Went for a mortgage through a broker and they have declined due to a credit card having 40 odd cash withdrawals on for small amounts so that was a big no unknown to us.  Is there anyway I can get that sorted or off the credit file I have paid off the card today and will phone the card but I wanted some advise from one of you experts please the best way to put this right.  

Thanks very Much 

DCFC79

George2021 said:

Hi Went for a mortgage through a broker and they have declined due to a credit card having 40 odd cash withdrawals on for small amounts so that was a big no unknown to us.  Is there anyway I can get that sorted or off the credit file I have paid off the card today and will phone the card but I wanted some advise from one of you experts please the best way to put this right.  

Thanks very Much 

I know it won't affect your score, well it can but only you can see it, your history is what's important here.
Why did you withdraw cash via an arm ?

I don't think you can get it removed.

D3xt3r5L4b

Don’t withdraw cash in the future.

George2021

Hi 
thanks for the answers yes I did make an error in withdrawing from an ATM but wanted to know hoe to make the situation right on the credit file so the mender would not see it as a red mark as such.  

Thanks 

George2021

DCFC79 said:

George2021 said:

Hi Went for a mortgage through a broker and they have declined due to a credit card having 40 odd cash withdrawals on for small amounts so that was a big no unknown to us.  Is there anyway I can get that sorted or off the credit file I have paid off the card today and will phone the card but I wanted some advise from one of you experts please the best way to put this right.  

Thanks very Much 

I know it won't affect your score, well it can but only you can see it, your history is what's important here.
Why did you withdraw cash via an arm ?

I don't think you can get it removed.

Thanks.  

I had to send a credit file to the broker and they said it was a red mark for any lender.  So I’ve paid the card off and obviously didn’t know it would affect the mortgage application so looking at ways to repair or make the situation better so I can re apply for a mortgage.  

Thanks 

Thrugelmir

Time is your healer. 
40 odd cash withdrawls suggests you've no savings buffer to tide you over. Property ownership can throw up all sorts of financial curved balls when you least want them. 

[Deleted User]

Build up a savings buffer so you don't need to borrow cash.  

Show lenders you're not living on credit.

sourcrates

Buy a time machine, go back, and don’t be so daft in the future.

Aside from that, your stuck with it I’m afraid.

George2021

I know it was daft I don’t need reminding. I’m just asking for any advice on how to remedy it at all so i can reapply for a mortgage again.  

Thanks 

D3xt3r5L4b

George2021 said:

sourcrates said:

Buy a time machine, go back, and don’t be so daft in the future.

Aside from that, your stuck with it I’m afraid.

sourcrates said:

Buy a time machine, go back, and don’t be so daft in the future.

Aside from that, your stuck with it I’m afraid.

I know it was daft I don’t need reminding. I’m just asking for any advice on how to remedy it at all so i can reapply for a mortgage again.  

Thanks 

You can’t. What’s done is done.

Maybe try a different/better broker

cymruchris

Now that it's happened you can't change it or hide it. The important thing is unless it's a dire life and death emergency - don't ever do it again. For the moment you really need to speak to a broker that deals in adverse credit, but you may find you don't qualify for the best mortgage rates as a result. The longer you leave it between the last cash withdrawal and your mortgage application, the better it will be, but I'm talking years not months.