Worried about possible CIFAS marker

MythicalOtter

Worried about possible CIFAS marker

CliveOfIndia

It's exceedingly unlikely that you'd get a CIFAS marker for a genuine mistake.

And actually, it's quite uncommon for a credit application to specify "salary" as the only permissible source of income.  Usually any regular form of income is allowable, such as benefits, pensions, etc.

I suspect that your second application was declined purely on affordability calculations, rather than anything more sinister.

martinbainbridge1975

would not let it concern you as all the sites may have different definitions of what income will be accepted.

the fact that you called for clarification works in your favour,  it was the honest thing to do.

some ask just basic salary, others will take into account bonus / overtime and even income from investments, there is not a consistent formula used it seems

born_again

If you are worried then give it a month or 2 to get reported & then do a 

https://www.cifas.org.uk/dsar

km1500

in any case would it be cifas or national.hunter ?

Nasqueron

it's a bit "how long is a piece of string" as it depends on the bank and what investigations they need to do.

Honestly, I think you're overthinking this - you made a statement of income on a form which didn't specify you could only use salary - an innocent mistake, the bank putting a CIFAS on that would be ludicrously overkill

Might want to screen shot the application page though just in case

maxximus75

The thing with applications is to be consistant with the information you provide.

Lenders reguarly screen application information against previous ones and any inconsistencies get flagged, usually for a manual review.

I doubt that one error would result in a CIFAS marker.

martinbainbridge1975

MythicalOtter said:

My other accounts with the provider are still open - so presumably this is a good sign?

try not to read too much into it, which card provider is it

born_again

MythicalOtter said:

My other accounts with the provider are still open - so presumably this is a good sign?

If they had logged a CIFAS, then they will be under review. But you will soon get a letter about that.
So no news is good news.

tomxlisa

Sorry to jump on this post but what are the signs that a CIFAS is held against you, is it constant applications being referred for manual review as I’ve read somewhere if you have a CIFAS your application doesn’t normally get instantly approved online, always wondered if I’ve got one but don’t worry about it too much, do you get notified if you get a CIFAS?.

Nasqueron

tomxlisa said:

Sorry to jump on this post but what are the signs that a CIFAS is held against you, is it constant applications being referred for manual review as I’ve read somewhere if you have a CIFAS your application doesn’t normally get instantly approved online, always wondered if I’ve got one but don’t worry about it too much, do you get notified if you get a CIFAS?.

You should follow the normal process to DSAR CIFAS if you believe you have a marker. Manual referrals doesn't mean one way or the other, a CIFAS fraud marker for example would likely result in instant rejections from many lenders