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Default removed but mortgage lender's report still hasn't updated even though ours has!

in Credit File & Ratings
13 replies 524 views
Hi there,
Looking for some advice... We recently applied for a mortgage from Accord, it was declined due to a default on my partner's credit report. We were unaware of the Vodafone default and believed it was there in error. We contacted Vodafone who agreed and removed the default, within 24 hours my partner's credit report on Experian and Equifax had updated to reflect this. The default was no longer showing on either credit reports. This was two weeks ago (11th March). Since then we asked Accord to re-run their soft credit check and they have said they are still seeing the default and it could take up to 6 weeks to update.... Can anyone confirm how regularly lender's reports update? It seems crazy that we have a bog standard subscription with the credit providers and can see the updated report and they are saying it may take up to 6 weeks? Vodafone have definitely updated and reported the default removal. They are unwilling to manually override the system and provide a DIP (there is also no other reason for the decline other than the default which no longer exists). Any advice or experience would be greatly appreciated - we sold our current home 3 weeks ago so are up against it into terms of timelines and we also have found a house we love but cannot put in an offer until this is sorted. Accord is the only lender who will lend us the max amount we are looking for. 
Thanks in advance. 
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Replies

  • zx81zx81 Forumite
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    Lenders have a real time view, so someone at Accord is not doing things right. 

    Or - is the default still appearing on TransUnion?


  • nicolejrylenicolejryle Forumite
    20 Posts
    10 Posts Name Dropper
    I'm getting my partner to check TransUnion now too and will provide an update. To your first point, our mortgage broker has been asking them to rerun the DIP and they keep saying the default is still showing - it's making us think they are using stale data/not rerunning it properly? 
  • nicolejrylenicolejryle Forumite
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    Just checked TransUnion, his score is excellent and Vodafone default not showing... Any advice? 

  • edited 25 March at 3:16PM
    2021BJ2021BJ Forumite
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    edited 25 March at 3:16PM
    Soft searches are not updated in real-time, they need to do a hard search to see the current real-time file.
  • nicolejrylenicolejryle Forumite
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    10 Posts Name Dropper
    2021BJ said:
    Soft searches are not updated in real-time, they need to do a hard search to see the current real-time file.
    Do you know how often the soft searches would update if they aren't real-time? We can't get a hard search done until we apply officially I think and would need a DIP to do so... 
  • edited 25 March at 3:26PM
    2021BJ2021BJ Forumite
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    edited 25 March at 3:26PM
    2021BJ said:
    Soft searches are not updated in real-time, they need to do a hard search to see the current real-time file.
    Do you know how often the soft searches would update if they aren't real-time? We can't get a hard search done until we apply officially I think and would need a DIP to do so... 
    As far as I'm aware they're basically delayed versions of the real-time file so they update as the real-time file did, just a month or so behind.

    Their 6 weeks timescale seems about right, perhaps a little too conservative but in the right ballpark.
  • nicolejrylenicolejryle Forumite
    20 Posts
    10 Posts Name Dropper
    2021BJ said:
    2021BJ said:
    Soft searches are not updated in real-time, they need to do a hard search to see the current real-time file.
    Do you know how often the soft searches would update if they aren't real-time? We can't get a hard search done until we apply officially I think and would need a DIP to do so... 
    As far as I'm aware they're basically delayed versions of the real-time file so they update as the real-time file did, just a month or so behind.

    Their 6 weeks timescale seems about right, perhaps a little too conservative but in the right ballpark.
    Thanks for the insight... So we know our credit report updated to reflect the removal of the default on 11th March, Accord created their application/search on us on 1st March and declined us on 9th March after finding the default. Would you say it will be a month from 1st, 9th or 11th that we'd likely see an update? Other lenders have been prepared to manually override the decision due to the evidence we can provide from Experian etc. but Accord aren't currently willing to. Our broker is checking with Accord every day but the anticipation is killing us! 
  • 2021BJ2021BJ Forumite
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    2021BJ said:
    2021BJ said:
    Soft searches are not updated in real-time, they need to do a hard search to see the current real-time file.
    Do you know how often the soft searches would update if they aren't real-time? We can't get a hard search done until we apply officially I think and would need a DIP to do so... 
    As far as I'm aware they're basically delayed versions of the real-time file so they update as the real-time file did, just a month or so behind.

    Their 6 weeks timescale seems about right, perhaps a little too conservative but in the right ballpark.
    Thanks for the insight... So we know our credit report updated to reflect the removal of the default on 11th March, Accord created their application/search on us on 1st March and declined us on 9th March after finding the default. Would you say it will be a month from 1st, 9th or 11th that we'd likely see an update? Other lenders have been prepared to manually override the decision due to the evidence we can provide from Experian etc. but Accord aren't currently willing to. Our broker is checking with Accord every day but the anticipation is killing us! 
    I don't know that it's exactly a month. It could be longer/shorter.

    If it were a month it would be a month from the day the default was removed.
  • nicolejrylenicolejryle Forumite
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    Thanks - if anyone has any other advice or thoughts it would be much appreciated. For context, even though it the default was removed, it was a £15 Vodafone bill. Crazy that £15 is halting us being able to get a mortgage until their report updates too :(
  • 2021BJ2021BJ Forumite
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    Thanks - if anyone has any other advice or thoughts it would be much appreciated. For context, even though it the default was removed, it was a £15 Vodafone bill. Crazy that £15 is halting us being able to get a mortgage until their report updates too :(
    Other than going with another lender probably the only thing you can do is get Accord to do a hard search and I suspect the only way to do that is going to be by submitting a full appplicaiton.
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