Lombard Tricity??

missparsnips

Hiya

I was wondering if anybody could help – My parents took out a finance option in 1998 with a furniture store called Leekes for interest free credit. They defaulted the payment once in 1998 but since then the loan amount has been repaid and no other defaults have been logged.

However they are trying to re-mortgage at the moment, and the mortgage advisor has done a credit search and found this one default on their credit rating and has said therefore they are not able to offer them the best rate. As this default is over 5 years ago it shouldn’t even be registered anymore as it has been paid off anyway and he suggested we get in touch with the company and get a certificate of payment from them as proof it is all dealt with.

So we were informed by Leekes that they used the company Lombard Tricity to give the credit. However Lombard tricity are no longer operating under that name and have been taken over by numerous companies in the last few years – after an internet search we found out they were taken over by the abbey national group although they are not really available to help us and we have spent hours on hold to their customer service lines.

Does anybody have any ideas how we could go about this?

Thanks in advance

Alix

petermb_2

http://www.lombard.co.uk/lombard/uk/about_lombard/history.html

According to this web site Lombards are now owned by RBS/NatWest.
I would try there to begin with. If you have a copy of the agreement I would love to have a look at it some time, just to see if I pick a few holes in it, which I invariably can with older agreements.

System

missparsnips wrote: »

Hiya

I was wondering if anybody could help – My parents took out a finance option in 1998 with a furniture store called Leekes for interest free credit. They defaulted the payment once in 1998 but since then the loan amount has been repaid and no other defaults have been logged.

However they are trying to re-mortgage at the moment, and the mortgage advisor has done a credit search and found this one default on their credit rating and has said therefore they are not able to offer them the best rate. As this default is over 5 years ago it shouldn’t even be registered anymore as it has been paid off anyway and he suggested we get in touch with the company and get a certificate of payment from them as proof it is all dealt with.

So we were informed by Leekes that they used the company Lombard Tricity to give the credit. However Lombard tricity are no longer operating under that name and have been taken over by numerous companies in the last few years – after an internet search we found out they were taken over by the abbey national group although they are not really available to help us and we have spent hours on hold to their customer service lines.

Does anybody have any ideas how we could go about this?

Thanks in advance

Alix

If the default was in 1998 it should no longer be on the credit file as they 'drop off' after six years - so in this case 2004.

Your parents should obtain copies of their credit files from Experian and Equifax (there is a third, Callcredit, but they weren't in existence in 1998) and see what's on there. If the default is still on there they can asked for it to be removed. Write to the credit reference agencies in the first instance who may then refer them to the lender and supply contact details.

Are you sure they are not just been spun a line to try and flog them a more expensive rate by the company concerned?

Regards
UNDERGROUND