Credit lock

ukman2012

Hi,

We are in the process of borrowing more on our mortgage to build a loft. Our mortgage is with Halifax, and we are using their mortgage advisor. Before Halifax could proceed further, we had to pass their credit check, which we did. A day or so later, a hard search appeared on my credit file.

The mortgage advisor asked us for all the relevant paperwork, including bank statements, payslips, etc. We were then made an offer, which we accepted, with a 5.09% interest rate. According to a recent newsletter from Martin Lewis, rates may drop to below 4%, which is good news.

After passing all the necessary documents to the mortgage advisor, our application was sent to the underwriters to verify everything and approve the borrowing. This is where things started to go wrong. Part of the underwriters' process involves checking your credit file. They reported that they were unable to view mine due to a Notice of Correction (NOC), a password, and a lock on my Experian report. They specified that this issue is with Experian and no other credit reference agency.

I had previously set up a credit lock with Experian, but I removed it before applying for the additional borrowing. After double-checking my Experian report, I informed Halifax that there was no lock and no NOC on file. There had been a NOC from O2 previously, but that was resolved a few months ago. Halifax tried again the next day; the password issue was resolved, but they still reported that the lock remained.

I called Experian, but in order to speak to someone, I had to sign up for CreditExpert. They assured me that there is no lock or anything preventing Halifax from accessing my full report. I even emailed Halifax to relay this information, but over a week later, they insist that they cannot access my report due to the supposed lock. Meanwhile, Experian is taking several days, if not weeks, to investigate. Either someone isn’t being truthful, or something is seriously wrong.

I'm really stressed because the builder I planned to use for the loft is quickly getting booked up, and the entire project is on hold with no clear resolution in sight.

Any advice?

Thanks

sourcrates

Unfortunately these issues can only be resolved by those in the know, one party says one thing, the other party contradicts that statement, its just one of those incredibly frustrating positions where everything goes wrong due to an annoying technicality.