EON wrongly marked credit file and declined for mortgage - how much compensation is fair?

CSI_Yorkshire

jemmarocks said:

BeerSavesMoney said:

Can EON not provide a letter to Halifax stating they will be updating your credit file? Surely that will resolve the issue with Halifax?

They have sent one to me that was sent to Halifax but they’ve still said no/only 85% LTV

So Halifax have said that even if the bad credit marker was taken off the file, they would not offer you what you wanted.

This means that the bad credit marker was not the reason for their decision.

I think you've been massively lucky to get such a big goodwill payment.

Also, "I can't get what I want from Halifax" isn't the same as "I'm now forced to use a sub-prime lender".

Scot_39

There is nothing particularly judgemental about saying past credit history impacts loan decisions.

The fact that major agencies like Equifax specifically warn against it proof enough.

And as I pointed out in my post - there was no information to say you had or had not gone ahead with such plans.

Only that you were considering doing so - including taking on new and additional debt - potentially in that advised against time frame.

I hope things do work out for you.

And the fact that that Halifax are making a £400 payment is perhaps evidence that you are not entirely at fault.

Misread - as @Qyburn correction - probably makes more sense if EOn

But ultimately you can only borrow what a particular lender is willing to lend.

And for now and foresaable future with many lenders - for you and millions of others - that's likely to be a lot less than it was even a few months ago let alone 18 months ago plus when on emergency rates.

Especially for mortgages when average house prices are falling e.g.

https://www.bbc.co.uk/news/business-66369695

And even today the BofE made it clear their rates are now far more likely to remain high - or more accurateky that inflation - it is using those rates to tackle - wouldnt fall to target - for many months more than markets and they themselves were previously predicting

RelievedSheff

jemmarocks said:

BeerSavesMoney said:

Can EON not provide a letter to Halifax stating they will be updating your credit file? Surely that will resolve the issue with Halifax?

They have sent one to me that was sent to Halifax but they’ve still said no/only 85% LTV

Which means there are issues with your application other than the late payment markers from EON.

Qyburn

Scot_39 said:

And the fact that that Halifax are making a £400 payment is perhaps evidence that you are not entirely at fault.

Was that Halifax? I assumed Eon, but the OP just said "they" so I guess it could be either.

MWT

jemmarocks said:

BeerSavesMoney said:

Can EON not provide a letter to Halifax stating they will be updating your credit file? Surely that will resolve the issue with Halifax?

They have sent one to me that was sent to Halifax but they’ve still said no/only 85% LTV

Then take the £400 and run, as that Halifax response scuppers any real claim against E.ON, as it sounds more like they have a general affordability concern and not something triggered by the incorrect marker...

Scot_39

Qyburn said:

Scot_39 said:

And the fact that that Halifax are making a £400 payment is perhaps evidence that you are not entirely at fault.

Was that Halifax? I assumed Eon, but the OP just said "they" so I guess it could be either.

Thanks - will edit / correct.