Last minute shock in mortgage application - credit score?!

amnblog

Thrugelmir said:

RichfromtheHudd said:

This is the thing, we've done everything we need to to get good scores: electoral roll, credit cards paid off in full every month etc.
Our individual scores are high/excellent, but this random service called Check My File is marking us down for no apparent reason. I'll check again with the broker but may have to switch if that's the only way out of this.

Look at your files on Experian etc. Not some random service. 

'CMF' is not a 'random service' to be fair Thrug.
It carries curries data from four credit reference agencies including Experian.

RichfromtheHudd

Bizarrely I've managed to get an Agreement in Principle from NatWest by doing it myself. I've also seen a slightly better rate from Yorkshire Building Society so might try an application myself and circumvent the broker. Doesn't this sound bizarre, though?

[Deleted User]

amnblog said:

Thrugelmir said:

RichfromtheHudd said:

This is the thing, we've done everything we need to to get good scores: electoral roll, credit cards paid off in full every month etc.
Our individual scores are high/excellent, but this random service called Check My File is marking us down for no apparent reason. I'll check again with the broker but may have to switch if that's the only way out of this.

Look at your files on Experian etc. Not some random service. 

It carries curries data from four credit reference agencies.

Although they can tikka long time to update.

Thrugelmir

amnblog said:

Thrugelmir said:

RichfromtheHudd said:

This is the thing, we've done everything we need to to get good scores: electoral roll, credit cards paid off in full every month etc.
Our individual scores are high/excellent, but this random service called Check My File is marking us down for no apparent reason. I'll check again with the broker but may have to switch if that's the only way out of this.

Look at your files on Experian etc. Not some random service. 

'CMF' is not a 'random service' to be fair Thrug.
It carries curries data from four credit reference agencies including Experian.

Appreciate that. Drilling down is the only way of uncovering the issue (s). 

SpiderLegs

Deleted_User said:

amnblog said:

Thrugelmir said:

RichfromtheHudd said:

This is the thing, we've done everything we need to to get good scores: electoral roll, credit cards paid off in full every month etc.
Our individual scores are high/excellent, but this random service called Check My File is marking us down for no apparent reason. I'll check again with the broker but may have to switch if that's the only way out of this.

Look at your files on Experian etc. Not some random service. 

It carries curries data from four credit reference agencies.

Although they can tikka long time to update.

Very good. I give that naan out of ten 

bell2020

Don't chase the mortgage rates! Find yourself a better broker that will scan your credit reports data with a fine tooth comb and then they'll match you with a lender where you meet the criteria. You would not of failed DIP because of your credit score because the lenders don't even see your credit score! A broker is worth every penny.... sometimes its the difference between a mortgage or no mortgage

obc18

I think the reason why people are saying your broker is the problem is because they don’t know NatWest’s scoring system well enough to advise you on why you’ve been declined, by the sounds of it. There’s clearly something on your file they don’t like and that should be identifiable. It’s nothing to do with CMF.

tiglon

For whatever reason you don't fit into Natwest's current lending criteria. It might be that there's something specific you can fix and a broker might be able to help you identify this. An experienced broker should have a good idea of what different lenders like and don't like, and who is most likely to accept you. 

I recently had an application with Halifax declined through a broker due to my credit history. He was able to tell me what I needed to do over the next few months to be very likely to get accepted. If your broker is just shrugging his/her shoulders and unable to help you further then what exactly are you paying for?

In the end I went direct to RBS (my bank for 10 years) and was accepted with no trouble and excellent rates. It might be worth having a chat with your bank directly or just looking around yourself - not all lenders will work with brokers.