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Lenders mis-use of credit scoring process
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Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...
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True but issue is how credit score process was used from outset of an application.ACG said:If Bank A says they will not lend to you, they will not lend you the amount you want or they will not offer you the product you applied for.
That in itself does not prevent you getting a mortgage with Bank B/C/D etc.When a existing customer satisfies lenders commercial internal policy rules/criteria to apply to amend an existing plan, producing and providing the customer with inaccurate misleading information upon which they rely is not good or proper use of process.0 -
Where are you getting this stuff from? Why do you believe that you satisfied the criteria when they are telling you that you didn’t?potatoefeet66 said:
True but issue is how credit score process was used from outset of an application.ACG said:If Bank A says they will not lend to you, they will not lend you the amount you want or they will not offer you the product you applied for.
That in itself does not prevent you getting a mortgage with Bank B/C/D etc.When a existing customer satisfies lenders commercial internal policy rules/criteria to apply to amend an existing plan, producing and providing the customer with inaccurate misleading information upon which they rely is not good or proper use of process.
The bank has no obligation to lend to you, no obligation to tell you why they won’t, and the ombudsman will never force them to disclose why they chose not to.2 -
Wow, this is a 10 year-old complaint based on a mortgage lender not choosing to lend?MWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...1 -
Mortgage lending rules have changed considerably in the intervening period.Chris_English said:
Wow, this is a 10 year-old complaint based on a mortgage lender not choosing to lend?MWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...0 -
Well yes, but I don’t see how that matters here. The OP had no valid complaint ten years ago and has no valid complaint now.Thrugelmir said:
Mortgage lending rules have changed considerably in the intervening period.Chris_English said:
Wow, this is a 10 year-old complaint based on a mortgage lender not choosing to lend?MWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...1 -
Sorry wrong clearly this matter is beyond the experts level of expertise to even begin to comprehend that maybe a high street banks staff mis-used a process to block an amendment to existing loan. Fact sorry.Chris_English said:
Well yes, but I don’t see how that matters here. The OP had no valid complaint ten years ago and has no valid complaint now.Thrugelmir said:
Mortgage lending rules have changed considerably in the intervening period.Chris_English said:
Wow, this is a 10 year-old complaint based on a mortgage lender not choosing to lend?MWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...0 -
Should a lender proceed with any application credit search when clearly customer no longer meets its criteria or policyMWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...0 -
potatoefeet66 said:
Should a lender proceed with any application credit search when clearly customer no longer meets its criteria or policyMWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...Would depend on their process, but whatever happened was too long ago for this to still be occupying your thoughts, and certainly too long ago for anyone here to be able to add anything that wasn't in your original thread.Good luck and I hope you find some peace on this matter.
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No, the fact is a bank made the sensible decision not to lend you money, as they are allowed to do, and as your previous CCJ showed was well within the bounds of reasonable decisions, and you are unhappy that they did this.potatoefeet66 said:
Sorry wrong clearly this matter is beyond the experts level of expertise to even begin to comprehend that maybe a high street banks staff mis-used a process to block an amendment to existing loan. Fact sorry.Chris_English said:
Well yes, but I don’t see how that matters here. The OP had no valid complaint ten years ago and has no valid complaint now.Thrugelmir said:
Mortgage lending rules have changed considerably in the intervening period.Chris_English said:
Wow, this is a 10 year-old complaint based on a mortgage lender not choosing to lend?MWT said:Chris_English said:
What rules are you saying have not been applied?potatoefeet66 said:
Yes and as known customer with an existing mortgage if internal criteria not satisfied lender has no responsibility to proceed with an application.Thrugelmir said:You don't meet the lenders internal criteria. That's a commercial decision. Time to move on and focus your energy on what you can control.Providing inaccurate and misleading correspondence is not acceptable.Commercial policy rules internal criteria have to be satisfied to apply.
It’s really hard to understand the essence of your complaint; could you please read your posts back over and see if you can edit them to help people understand your issue?If you have the strength, here is the 10 year old start of all this...Short version seems to be the OP tried to change from an existing self-certified mortgage product, but failed to meet the income criteria at the time and so was denied...
I see from reading the previous threads that your complaint is subject to change, and is even contradictory in places. You've complained both that you were lent money and that you weren't lent money.
You wanted to enter into a new mortgage agreement. The bank did not want to. It is within the bank's rights to decide not to.
What do you hope to achieve here? You want someone in the bank to say sorry to you?3
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