Help Needed: Mortgage Refusal Due to Possible Financial Oversight

fatboydaz

From Principality 

Having investigated your concerns, I can confirm the loading was reviewed. As a result, we are satisfied we recorded this correctly and therefore we will not be removing this entry. I appreciate that this will come as a disappointment for you. 

 

We won’t be disclosing the reason for the loading, as per the application declaration that you agreed to when submitting the application. 

 

I appreciate this is not the outcome you were looking for. Based on the information I have provided, are you happy for me to close this complaint?

I have done a SARS and received all my documents back which were sent to them and nothing looks incorrect. So I have no idea why they loaded the marker on my name. I now don’t know how long that marker will remain. Any ideas on how I find that out? It seems like this hunter register are just big bullies and happy to ruin peoples lives. 

Hoenir

fatboydaz said:

It seems like this hunter register are just big bullies and happy to ruin peoples lives. 

N Hunter is funded by the lenders to protect the lenders. The declaration on the application form that you signed is unambiguous and standard across the mortgage lenders. 

fatboydaz

Does anybody know how long these markers stay on your name? Nobody will tell me and I correct that getting a mortgage is now impossible?

MWT

@fatboydaz - you may find this ruling from the Ombudsman informative, but probably not reassuring...

https://www.financial-ombudsman.org.uk/decision/DRN-4384013.pdf

Based on everything you've posted in this thread and comments from others, I don't think you need to look much further for a cause than the failure to declare rental income to HMRC and then subsequently trying to use the undeclared income as part of the mortgage application.

Equally I don't think it is 100% certain that you cannot get a mortgage, but you do need to be looking for those smaller lenders that are prepared to look past the marker at the specifics of the case so you are going to need a really good broker if you are to stand a chance...

ACG

I think @MWT covers it all off.
You might find a lender, but it is going to be a little building society. Im not sure how long it remains on your file for though. 

MWT

FWIW, I think this bit from the linked ruling is most pertinent...

"The National Hunter report says the marker is “Refer” for which the explanatory document
says:
“By setting a case to refer status, the organisation who set it investigated further, which
confirmed that something was misrepresented. It highlights to other organisations who
match against it that that they may wish to contact (i.e. refer to) the original loading
organisation. If there is information showing in the reasons section, this tells you the
reason/s why the refer status was set. This data remains available for matching for 6 years
from date of application.”

Looking at the “reasons section” on Mr K’s report (as referred to in the above explanation)
that says “Docs – Altered”.

The document also explains that the section the word “Refer” is against doesn’t infer it is that
section that is the issue, just that the application overall contains inconsistent or
misrepresented information:

“Whilst a status is applied to individual data parts, for example name, address, bank
details, this does not infer that the organisation has deemed this information inconsistent or
misrepresented. Instead, this denotes that inconsistent or misrepresented information was
identified during the application process.”

So that suggests 6 years and explains that 'Docs - Altered' and 'refer status is not tied to any one specific section but is a general comment that there was incorrect or misrepresented information in the application, which we know to be true from the OPs statements about the rental income.

fatboydaz

Has anybody ever found a good small broker, each one I’ve tried has said we’ve never even heard of the national hunter. 

ACG

fatboydaz said:

Has anybody ever found a good small broker, each one I’ve tried has said we’ve never even heard of the national hunter. 

  Really?! Jesus, thats worrying! 
Maybe thats just a polite way of saying they dont want you as a customer. 

Just keep trying, there are thousands of brokers out there to try.