Advice please: any mortgage advisers/underwriters around?

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So we’ve recently sold our house, had offer accepted on New House. Our current lender has offered to “port” our mortgage and took us through a DIP over telephone with one of their mortgage advisers with their initial credit check. The DIP was for a loan that’s 3.9 times our joint income (£112k a year), of which the vast majority is our existing loan “ported” at existing low rate and the additional 150k on a new rate. They then emailed us a PDF of the DIP to make offers etc.

Our application is coming up now with existing lender and I am an anxious wreck. Can anyone involved with mortgage advisor or underwriter roles help?

1. Equifax score for me says “excellent” and for spouse says “excellent”. He is at a 900 and I am at a 826. Great!

1. Spouse record super great!

1. Now for me - I am the higher earner between us. But there appears in the report a “satisfied” CCJ for a small amount in relation to a parking fine. It was cleared in 7 weeks BUT - it was sent to an address we had sold and vacated 2 years ago when we moved halfway across England! I had no idea of it till entirely per chance I had looked at my equifax file and got a heart attack and paid it. It’s very evident in the report that the CCJ is dated in a year when the address it was sent to had been sold 2 years ago.

I contacted Equifax and Experian and asked to insert a “Notice of Correction” which explains above in non emotive language. It will take a week to put in and our appointment is for the next week after.

So my questions are -

1. When current lender did the telephone appointment with us to generate the DIP for porting would something like this not have flagged at all for them? Is this something that’s now going to crop and mess all up? To be honest when doing telephone DIP with current lender I did mention this twice and the advisor taking us through the DIP insisted we wouldn’t get through if we didn’t pass their initial soft credit checks and got a bit terse when I kept coming back to it...

1. Second in our application appointment I am thinking of opening with this in all honesty rather than them “discovering” it. Is that reasonable? Is there anything else you would advise doing at appointment?

1. The DIP was for a 10% deposit. FYI this is our current lender as I say who are also doing the government mortgage guarantee low deposit scheme but that’s not what we have applied for. We are able to increase deposit from 10% to 13% but can’t get to 15%. Does it make a difference then if we apply with 13% or will it not provide lender any additional reassurance you think?

Other factors - both in long term FT permanent jobs, loan is about 3.9 times of income, credit utilisation under 10% for me and under 10% for him - and equifax scores both excellent.

But this stupid CCJ is driving me mad...

Is there anything further - in addition to Notice of Correction - that I could do in next week or so - or anything we say in appointment or flag upfront - or the small deposit increase that could help?

I don’t think I’d cancel the Natwest appointment yet. I’d speak to the broker and ask if they see any reasons why NatWest wouldn’t go with you in the circumstances. Our broker was helpful with this advice.
Also, you’re porting the NatWest mortgage to a new property? I don’t imagine it’ll be as stringent for you as for a new mortgage customer on their books. And given they allowed a remortgage even while this would have shown on your credit file.

As an aside, I now pay £7 a month for Equifax and it’s worth every penny! We were both using Experian pre getting a mortgage and our ratings were showing as excellent. Equifax showed this was not the case, when we were rejected for a mortgage AIP and the lender told us to check Equifax. Turns out my partner had some historic issues. They drop off after six years

Thanks everyone. So plan of action -

1. Over weekend try to seek some more advice on MSE if possible and apply to set aside the CCJ from file. This may take months but nonetheless.

1. Then on Monday ring broker and ask to discuss best route forward. Take her advice on whether to go ahead with new bank DIP she secured albeit at high rates or NatWest porting with existing mortgage.

1. Ask her if she could run another DIP to see what rates we get potentially.

1. By Weds or Thursday make decision to who to progress to application with.

1. Also on Thursday check to see if Notice of Correction on file with agencies.

1. Friday and over weekend make final call whether to go ahead with NW or not the week after but either way reach a decision.

NatWest mortgages confirmed to me (via the email chain between us and the lady who is our designated mortgage advisor) that they use Equifax for the credit score.

I just went on to Equifax (paid account) and downloaded the PDF report that shows my full report. It does obviously show the satisfied CCJ at a previous address but nonetheless the report categorises me as “excellent”.

I have screen shotted some hopefully anonymous chunks of the report showing the score and banding. Attached.

Not sure I can do much more at this stage I suppose - unless anyone has other ideas aside of the steps above!

Screen grabs attached :)

So whilst applying for the set aside, submit a subject access request to the parking company to obtain all information they hold on you to understand why you were issued with the charge. Do NOT inform them who was driving the car.

Join Private Parking Tickets -Help and Advice and once you have received all the information post up a copy of the notice you received but obscuring the identifying information. The admins will give you excellent free advice on whether to fight it (they have a very high success rate). Don't be sidetracked by sites that try and charge for the help.

On the desktop version of the FB emission a folder for template letters such as the SAR request.

Good luck. A lot of people get CCJs from these parking companies as they often don't recheck addresses when issuing proceedings which cost them very little. Many are pretty corrupt outfits, use extremely dodgy practices and the government is no bringing in a mandatory code to which they have to abide to try and regulate them better.

I had a charge issued. I appealed It which they refused straight away. Then appealed to,the independent body (only one appeal body is independent, the other is owned by the larking companies!!!!) and as soon as I appealed they notified they wouldn't contest it. That is very much the norm. They rely on people not being bothered a d fill their coffers up. They are currently chasing a lot of people who suddenly get notifications they were issued with a parking charge 5 years ago and demanding payment

An update for anyone interested in random people's mortgages :)

We took your advice on board about the brokers, and contacted a reputable Whole of Market Broker at the weekend and then this man spent the entire Sunday and half of saturday on our case. He was far less stressed about the parking fine than me - and long story short - he took us on, spoke to his Natwest Intermediaries contacts in detail about our case, and when confident put in for a DIP - with a hard search - with Natwest Intermediaries.

We have passed it, and the 90 LTV is returning excellent affordability rates in terms of monthly payment, with a deal with a generous cash back and various other things at a % rate I had not even spotted online myself.

I can see the hard search on my Equifax this morning - via Natwest Intermediaries - and We have been told now to expect a positive answer in 3-4 business days which is how long he says its currently taking.

To add (how i wish there was an edit button) - we obviously know - anything could go wrong still - the underwriters may decide I am a liability-from-hell, and we may get rejected still despite hard search succeeding - but hey - anything could always happen in the worlds of anxiety-prone people like me - so here we are with fingers and toes crossed.

thanks for the advice to approach a whole of market broker. If nothing else - the stress of document and forms and applications etc has definitely been removed from our shoulders.

Congratulations that’s brilliant news!!

Mortgage approved!!!

This was a very bizarrely speedy process.

1. Up till weekend of 8-9th May - I am mega worried about parking fine CCJ from only 15 months ago

1. Saturday 8th May - contact a Whole of Market broker for first time. Broker appears to have zero concerns that CCJ of this kind, and this circs will either result in bank declining or result in them asking for higher deposit than 10%.

1. Sat-Sun 8 and 9 May - broker works insane hours on our case, to and fro calls and emails till Sun night

1. Monday 10th May: Broker submits DIP to Bank - gets approved - application fully submitted - Hard Credit search appears on Equifax

1. Tuesday 11th May: We hear bank has arranged Valuation of property.

6.Thursday 13th May 0800 am: Bank writes with mortgage approval!

My head is STILL going "but my CCJ!!! my CCJ!".

Time to relax a bit.