Declined For A Mortgage

[confusedpickle]

Hi
Hoping someone can pass on some advise, we were declined a mortgage last night due to failing the credit check. Obviously both shocked by this as our credit scores are in the 900s.

We paid for an in depth report through Experian, mine is clear but his is very confusing but what we can see is he has 6 financial associations with his ex wife, he knows absolutely nothing about these and can only think she has forged his signature in the past (something she is highly likely to have done).

So my question is how can we find out what these associations are (it doesn't give any info on the credit report) and also if they are the reason we got declined for a mortgage or something else has caused it?

Any help much appreciated

They use their own scoring criteria from the information supplied within the credit reports. So they don’t see, or care, that you have 9999 scores. That’s only Experian’s matrix and doesn’t bear relation to how lenders assess customers

@MaryPoppinsUmberellaHandle which company did you use to do the checks? We have looked thoroughly and doesn't say anywhere what they relate to. Just list the Ex's name 6 times and her date of birth.

Also I have to say I find it extremely frustrating that a lender is allowed to reject you based on information they hold on you yet are not obliged to tell you exactly what that information is. They should be legally obliged to do so

I had this with my ex, though there was certainly no fraud involved. It was just an error that we were still associated - it was sorted out after we both contacted the relevant agencies.

You can dispute the associstion on the credit report now, you have to note why and it will need investigation. A provider cannot hold inaccurate information about you.

I had to disassociate myself from my sister who ran up debts at my mother’s house, where I hadn’t lived for a couple of years.

I have no idea why it suddenly jumped onto my credit report (except we share an initial and, at the time, surname) but it was a simple job for then to put a note on my file saying I had nothing to do with her debts.

I had been turned down for a mobile phone account and store card but was accepted when it was done.

@Sprinklesinmyelbow totally agree! We didnt even get a chance to really ask her what we failed on as she just said oh im really sorry you have failed the credit check we cant go any further goodbye and terminated the call!

I just read that you don't have credit cards. Sometimes that can count against you. If you have credit cards and make the payment (in full each month so you don't get charged interest) can actually improve your likeliness of getting a mortgage.

@Roomba he is not in contact with his ex as she is a selfish raving lunatic so even if we knew what the credit agencies were she wouldn't contact them for him any way ☹️

@Helpmeplan thank you just not sure how we can prove it's inaccurate information if we don't even know what it relates too, obviously we know it's inaccurate but can't tell them anymore than that

@frasier did you have to send them anything to get it removed to prove it was your sister's debts not yours? Also did you know it was your sister's debts that caused you to get declined or did you manage to find out somehow?

Your credit score means nothing, it is your credit history that counts. Are there any missed or late payments on your credit reports?

The credit score is a number that only you and the cra see.

@redherring4 nope doesn't show anything on his history at all, the only thing he has ever had credit wise was a mortgage but even that isn't showing on his history so that is a bit odd but we know its on that as he never defaulted

confusedpickle The only thing adverse on my credit report were the debts belonging to my sister. Catalogue purchases (pre internet!) etc.

I rang the catalogue and we worked out they were my sister’s purchases (same initial but different name). I rang my mother to check and she remembered sister buying stuff at her house, and then rang credit company to tell them.

If the credit company (IIRC I rang both big ones) did any behind the scenes checks, I don’t know about it.

I simply told them I wasn’t my sister, gave all my details including the address I had lived at when purchases were made (I presume they could check this somehow, they didn’t ask for proof) and I might have had to send a letter and sign it, sorry can’t remember, saying the same thing.

They did ask for all details about my sister, new address, telephone number, they were obviously trying to chase her. I knew nothing however and if my mother knew she wasn’t telling 🙄.

It might have been the catalogue that wanted sister’s details thinking about it. Such a long time ago, I can’t remember, sorry.

I know I was annoyed and got into it like a forensic investigation!

@confusedpickle you literally just dispute the association under the basis that they no longer have joint credit and are no longer financially linked.

Which lender did you apply to? Have you got copies of equifax and experian reports, they can show different things

@Helpmeplan thank you we will contact them today, the worst they can do is say they cant remove them! It was with Barclays that we got declined.
We have done experian, credit expert and clearscore, clearscore and experian do show different scores but both say no CCJs or outstanding balances for anything

@frasier thanks you and glad it got resolved for you. Did it give the Catalogue name on your credit check and thats how you knew who it was that was causing the bad credit?

A complete lack of financial history can be a negative to some lenders.

You need a whole of market broker. Ask friends for recommendations.

My financial advisor went through how much I could borrow and gave advice on how to improve the score as well , pay £x off credit card, can borrow £xx more etc.

We did an Equifax credit report check last night and found out where the issue lays, Virgin Media never bothered to cancel his contract even though he paid them £232 to do so! So for the following 9 months after he paid them they marked him down as missing payments then defaulted!
Having looked online this has happened to plenty of people before and like us they only found out when applying and getting declined for a mortgage!
The "outstanding" amount is £39!!! Angry doesn't even come close!! Unfortunately all the previous cases people have written about have taken years to get resolved too!

I bet you are angry. But at least this is just one issue, and hopefully you can get it resolved. I just think it's terrifying that something like this i.e. just £39, can have such a profound effect on life changing stuff like buying a house. Keep us posted, OP, hope you get it sorted out soon. Like others have said you may find that it is definitely worth your while consulting a mortgage broker who will be able to guide you through the process.

Go to Virgin social media Pages.They’ll hate bad publicity like that.

I see you've found out the issue I was just going to say check all previous things luke council tax, home insurances, tv deals , ECT in case they where joint in case she hasn't updated to her name only might be worth checking that out of there is anything else strange going on. Good luck and see a broker some estate agents have them so you may be able to see one their they should be able to help

Thank you @DaphneduM, one person that has complained of the same thing happening to them said the amount they supposedly owed was £26!! And another was £88 so as you say how terrifying they can ruin lives for such a trivial amount!