Arrangement to pay

Abyrne23

Hi there. This is my first post on here and I’m in desperate need of some advice please. Back in December 2019 I had a final bill from E.ON for £197. Due to the fact I had just bought my first property with my partner we were incredibly nervous about any unexpected costs and when E.ON offered me to pay it back over a few months I jumped at the chance. Little did I know that two years later after trying to remortgage I am unable to because of the ‘arrangement to pay’. This never showed up on my Experian account but when I signed up with checkmyfile as that’s what the broker London and Country advised, I discovered it showed up with Equifax. I called E.ON today who told me it should have been removed from my file after 2-3 months but I’ve read many times that this remains on my file for 6 years! E.ON advised me to speak directly with Equifax which I did but as I don’t have an account with them I have to contact checkmyfile. I am now waiting for a response but does anyone know where I stand with this? My credit file otherwise is perfect so for the sake of E.ON not informing me at the time of the negative impact, I cannot remortgage now. Of course we all know the interest rates are going to rise soon! We have recently got a mortgage in principle with NatWest and after an appointment was told we would get a mortgage but if we apply and it’s declined we will be in a worse position! I just don’t know what to do.

[Deleted User]

Pursue the mortgage with NatWest. It sounds positive and even if declined, it doesn't put you in any worse position.

If NatWest doesn't pay off, use a decent broker, rather than L&C. They'll be able to place your application with the right lender.

MovingForwards

Who is your current mortgage with and what fixed deals are they offering?

Abyrne23

Deleted_User said:

Pursue the mortgage with NatWest. It sounds positive and even if declined, it doesn't put you in any worse position.

If NatWest doesn't pay off, use a decent broker, rather than L&C. They'll be able to place your application with the right lender.

As I have a hard search in June for a mobile contract, to apply for a mortgage it would be two hard searches within 4 months. I imagine we’ll have to wait many months before considering to reapply. 

Also L&C were recommended by this website so I thought they were the best! Any suggestions on other good brokers? Thank you 

Abyrne23

MovingForwards said:

Who is your current mortgage with and what fixed deals are they offering?

I’m with Precise. They were the only company according to L&C who would give us a mortgage as two years ago my partners credit file was quite bad no thanks to his ex! Anyway his credit score has significantly improved since then and now mine has gone down! They won’t offer any fixed deals, all we’ve been told by L&C is to remain with Precise after our fixed period ends this month and be on their variable rate.

MovingForwards

It's the credit history lenders see and use, not the credit score, as they have their own internal algorithms for assessing applications.

Ask friends, family and work mates what broker they used. Call / email local brokers and see if you like how they deal with you. There's a few brokers who post on the mortgage board and accept contact from members; it's how some of us have got a mortgage arranged.

[Deleted User]

Abyrne23 said:

Deleted_User said:

Pursue the mortgage with NatWest. It sounds positive and even if declined, it doesn't put you in any worse position.

If NatWest doesn't pay off, use a decent broker, rather than L&C. They'll be able to place your application with the right lender.

As I have a hard search in June for a mobile contract, to apply for a mortgage it would be two hard searches within 4 months. I imagine we’ll have to wait many months before considering to reapply. 

Two searches is nothing to worry about. You wouldn't wait before reapplying 

L&C are good for minimal effort, run of the mill cases where you don't need any expertise. Ask on the mortgages board for decent broker or get recommendations from friends.

MovingForwards

Just looked and precise do have new fixed rates, but it has to be done via a broker.

Abyrne23

MovingForwards said:

Just looked and precise do have new fixed rates, but it has to be done via a broker.

L&C said Precise wouldn’t offer us a new fixed rate deal! Thanks for your help though.

Abyrne23

Deleted_User said:

Abyrne23 said:

Deleted_User said:

Pursue the mortgage with NatWest. It sounds positive and even if declined, it doesn't put you in any worse position.

If NatWest doesn't pay off, use a decent broker, rather than L&C. They'll be able to place your application with the right lender.

As I have a hard search in June for a mobile contract, to apply for a mortgage it would be two hard searches within 4 months. I imagine we’ll have to wait many months before considering to reapply. 

Two searches is nothing to worry about. You wouldn't wait before reapplying 

L&C are good for minimal effort, run of the mill cases where you don't need any expertise. Ask on the mortgages board for decent broker or get recommendations from friends.

Thanks, I think I ask on the mortgage board.
Thanks for your help.

MovingForwards

Abyrne23 said:

MovingForwards said:

Just looked and precise do have new fixed rates, but it has to be done via a broker.

L&C said Precise wouldn’t offer us a new fixed rate deal! Thanks for your help though.

https://www.precisemortgages.co.uk/ProductTransfer

Find a better broker!