Old notice of correction for ID theft - does it affect mortgage lending?

propertyhunter

Hello, 

In 2019, I had my identity stolen and then placed a notice of correction on my file with Equifax, as follows:

I, [NAME], HAVE REASON TO BELIEVE THAT MY PERSONAL DETAILS MAY BE USED FRAUDULENTLY IN AN ATTEMPT TO OBTAIN CREDIT. I WOULD ASK ANY LENDERS SEARCHING MY CREDIT INFORMATION AT EQUIFAX TO ASK FOR THE PASSWORD [XXXX] IN ORDER TO CONFIRM MY IDENTITY

How does this affect mortgage lending? Will I need to give them the password upfront, or when they ask for it? Or does it not affect the mortgage lender? 

What happens generally to borrowers who have had their identity stolen? How do banks handle this? Mine occurred in 2019, and all hard searches were removed. My credit history is now clean. 

Thanks all for your input!

 

y3sitsm3

You could just ask for the NOC to be removed, it's probably doing little good 3-ish years later.

Regardless it's up to you if you give them the password or wait for them to ask for it.  They don't have to ask for it so there's a chance they won't.  I think it's extremely unlikely someone would or could buy a house under a compromised identity anyway.

propertyhunter

Thanks for your response @y3sitsm3

I will just ask for the NOC to be removed. Hopefully it comes off sharpish since I was the one who put it on there, as I'm offering on a property tomorrow no less! 

MattMattMattUK

The only issue it is likely to cause is a slight delay in processing a mortgage application, but as the lead time for everything if your offer is accepted will be months, a day or two is unlikely to make any real difference.