Incorrect entry on Credit file prevented us gaining a preferred mortgage rate deal in June 2023!

Grizebeck

You could sue them for the loss ( ie the difference in mortgage rates ) caused to you.
Fairly straight forward 
The County Court is a far better avenue for this.

simon_or

I don't think you'll get any traction with the bank's but there's definitely a case to answer for the energy company that made the incorrect reports to the credit bureaus causing all these issues.

Definitely take it to the energy ombudsman if the energy co fobs you off and all the best with it!

MWT

Pointbreak1 said:

I believe mortgage lenders should still honour an earlier rate which we have missed out on, particularly if that lender is willing to provide a mortgage to us now, once error corrected.

That ship has sailed unfortunately, they have no obligation to lend to you at anything other than current rates.

Pointbreak1 said:

I’m waiting on the Energy companies’ response before now going to the Ombudsman to name and shame.

You have to complete their complaints process or wait 8 weeks from the time you opened the current complaint, so what you are looking for from the energy company is either an acceptable resolution (unlikely) or a deadlock letter which then allows you to go straight to the Energy Ombudsman.

If you go to the Ombudsman be aware that they do not investigate anything, they simply review the information which you, and the energy company, will provide to them and then reach a decision. So make sure you present as much factual information as you can, ideally something from the lender clearly saying the overdue debt was the problem, which is I guess unlikely.

Do let us know how it goes...

Grizebeck

The Ombudsman will not put you back in the position that a county court claim can
Work out what your new mortgage offer is and what your old one was 
Then work out the difference and sue for that 
Issue the relevant letter before claim etc. 
It's very simple and much more effective.

MWT

If the OP wants to try the country court route I would suggest that they should proceed to complete a remortgage to prove beyond doubt that they could get the mortgage and to crystallise the calculation of the loss as well as stop the loss from getting worse (as is their obligation when claiming damages).

This will I believe be a 'loss of chance' claim, so probability is a factor and having completed a mortgage with the same lender that initially rejected the application would be helpful I think, but do get some legal advice on this...

I would also suggest being clear on that brief mention of initially believing that the problem was not being on the electoral roll at the new address...

If that is a factor and that factor has also now been corrected then it muddies the waters around the reason for the lender citing a credit scoring problem.

... and once again, this is nothing to do with the credit score shown by the credit agencies the lender doesn't see or use those numbers so I wouldn't rely too heavily on those scores going down or up, it is just the lenders internal credit scoring methodology that matters so focus on the specific events on the credit file 

Pointbreak1

Just got the 8 week letter back from OVO energy, so will not be using this company ever for energy, this is totally unacceptable....
We are now on a 5.71% fixed rate mortgage instead of the 5.28% and OVO offer £100. 

- We have addressed the concerns you have highlighted regarding a Trace and Search account being opened

incorrectly under your liability.

We have identified that this should not have happened and have put this right immediately. We have

reverted the process which has closed the account and removed negative markings from your credit report.

I can confirm that this issue occurred as we did not initially follow the correct process when you changed

your energy supplier. For an unknown reason, our system recognised this as a Change of Tenancy, rather

than a Change of Supplier, therefore an Unknown Occupier account opened automatically despite the supply

being lost to another energy supplier. This Unknown Occupier account has continued to bill for daily

standing charges which have accrued over time, forming a debt balance which has then triggered the Trace

and Search process.

Due to the inconvenience and hardship caused by this, I have proposed £100 as an apology gesture for our

wrongdoing.

kingstreet

You need to calculate the difference in mortgage costs and ask for that plus the £100. They may refuse but then you have your deadlock letter for the ombudsman and the basis for court action if you decide to take that route.

dunstonh

kingstreet said:

You need to calculate the difference in mortgage costs and ask for that plus the £100. They may refuse but then you have your deadlock letter for the ombudsman and the basis for court action if you decide to take that route.

And evidence will be needed that the incorrect entry on the credit report was the sole reason they original lender would not offer the mortgage but they would if it didn't exist.    I am still sceptical on that based on information on the other threads.