Mortgage application declined - please help!

minkalala · 21 October 2013 at 4:31AM

Could anyone offer me advice please....

I received an AIP from Natwest for a house purchase but now a month into the transaction they have declined my application due to a £30 outstanding balance/defaulted account with Virgin media in 2008. I've looked into and I dispute it, the entry should not have been made. I've asked for experian to lodge a notice of correction but the lender sat it must be removed.

My concern is that by the time I get through the virgin complaints process to get it sorted and hopefully removed my house purchase will have fallen through

I'm feeling so much rage for Virgin right now/panic about having nowhere to live I literally can't sleep. Is there anything else I can do? My mortgage advisor said she was absolutely shocked by the underwriters decision - would this stand me in good strad to appeal? Are appeals very often successful?

Thank you..

Dovah_diva · 21 October 2013 at 5:45AM

You can appeal 'til the cows come home - if they don't want to lend, then they won't.

I am actually really surprised that they've rejected the application based on a small default from five years ago. Am I right in thinking that you didn't check your credit file before making your application and therefore did not declare it?

Sounds like you have a couple of options - pay the £30 and wait for the default to drop off in a year or dispute it. Either way, you need to either appeal the Natwest decision or get an other mortgage application in.

nonnatus · 21 October 2013 at 6:23AM

Oh Dear. NatWest are terribly rigid in their "jobsworthiness". I fear an appeal will get you nowhere. Search on here for other NatWest Mortgage refusals etc and see the same story repeated countless times!

Problem is, you now have a refusal as well as the alleged default.

Best advice is get yourself a Broker and be guided. It was the best money we spent in the whole process.

chanz4 · 22 October 2013 at 12:07PM

Did you have an account at that time, reason I asked they did the same on me except I moved and closed the account in 2005.

Their is a system migration problem and the cra's are aware, in fact myn came back and I have had to email Experian and Equifax again asking them what they are going todo.

Mokka · 24 October 2013 at 12:13AM

Sorry to hear about your ordeal. We had a very similar experience, except that we spotted the alleged default 2 days before meeting with a mortgage advisor. I don't know how much chance for an appeal you have, but if you are pressed for time advice from an experienced broker should be worth the money.

If the default is registered incorrectly you have to keep asking both Virgin and CRAs to remove the defaults. Keep calling and keep writing.
DOn't bother with VM customer services line, find UK numbers and keep calling.
VM's email address is:
'consumerunderwritingservices@virginmedia.co.uk'
They were completely ignoring all our calls and emails until Experian asked them to provide proof of the default. Which in our case they didn't have.

I think we should start a campaign against these incompetent idiots who do so much harm and wreak so much havoc in people's lives with complete impunity!

chanz4 · 24 October 2013 at 7:21PM

I have raised the point with Experian and Equifax as they have done this to thousands

Mokka · 26 October 2013 at 10:31AM

I think since you have been so badly affected by VM's incompetence you should make a formal complaint to the Information Commissioner. They can impose huge fines on companies.
Also I think we should alert the press about this- lots of people are probably unaware they have defaults with VM.

Mortgage application declined - please help!

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