prefect credit report but still rejected

widyboy

all bills are paid via DD (no misses or late payment)

ACG

If your credit report has been updated, sometimes it can take a little while to filter through.

I did a case last month where the lady cleared a lot of debt, the credit report updated and it took about another 3 weeks before we could get the DIP to pass as they were still picking up the debt for a few weeks after. That was with nationwide. 

We didnt have any other options due to other issues with the case. 

Im sure you will be fine. 

sourcrates

With 180k combined salary why the need to borrow from a bank, why not simply save your income to finance it?

eschaton

sourcrates said:

With 180k combined salary why the need to borrow from a bank, why not simply save your income to finance it?

£180k income and never heard anything about savings. 

Surely you’d be able to save with an income that high?

Any cars?

Grumpy_chap

widyboy said:

We have just paid over 50% of the mortgage. 

3 months ago, we applied to our mortgage providers for money for an extension. This was rejected at the credit report stage.

I am a bit confused, if you just paid off half the mortgage, why do you now want to borrow the same money back again for an extension?
Would it have been far easier to keep the money and pay for the extension and then make the mortgage over-payment if there was any money left over after the extension was complete?

The phrase "at the credit report stage" for a lender might well be used as a catch-all phrase, so not necessarily meaning the credit search showed a problem but, possibly, that the bank's credit check processes showed a problem.  That could be an affordability issue or a credit marker.  Or just that there is some part of the bank's lending criteria that are not met.  All of these can be fobbed off as "credit check issue".

Joint income of £180k.
Just paid off half the mortgage and now want to borrow money.  The bank might see that as poor planning / impulsive behaviour.
No information about how much debt is being carried against that £180k income.  There might be an affordability assessment that restricts further borrowing.
Total debt might be towards the higher end of what the bank is comfortable to lend within the confines of the current mortgage product.

And, you don't really have the "perfect" credit report.
Firstly, there is the (incorrect?) CCJ.
Secondly, you might have too thin credit files.
Thirdly, there is no such thing as a "perfect" credit report.  At best the credit report can give an insight as to how you manage your current debts.  Each lender has different criteria for assessment.