nissanman312 Posted January 19, 2015 Share Posted January 19, 2015 hi guys ill cut a long story short the missus and i have found the house of our dreams! and have just been turned down on the morgatage on the basis of her historic aragment plans that she had on some debt there down as satisfied but none the less its on here record as d for defult she has never had a morgatage before so is classed as a first time buyer my situation is i have been paying a morgatage for 7 years with a full clean bill of credit history but cant raise what we need on my wage alone the bank said i can apeal the disision which im going to but unlikly to change anything anyone have any suggestions Quote Link to comment Share on other sites More sharing options...
leonk Posted January 19, 2015 Share Posted January 19, 2015 Sarnie is your man, drop him a pm 1 Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 thanks Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 19, 2015 Share Posted January 19, 2015 Write to the bank in good clear English, paying particular attention to spelling and punctuation. You might be surprised at their reaction. I'll help with the proof reading if you require. Just an idea ... 6 Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 Write to the bank in good clear English, paying particular attention to spelling and punctuation. You might be surprised at their reaction. I'll help with the proof reading if you require. Just an idea ... That's something that the missus is good at so i'll get her to type something up tonight thanks i appreciate the feedback 1 Quote Link to comment Share on other sites More sharing options...
Bockaaarck Posted January 19, 2015 Share Posted January 19, 2015 Have you checked with Experian and Equifax to make sure those debts are marked as satisfied? There's no harm in double checking with them. I think it's probably £20 or something for your better half to get the latest status on her credit history. Quote Link to comment Share on other sites More sharing options...
leonk Posted January 19, 2015 Share Posted January 19, 2015 I think Experian are still doing their 30 day free trial for your credit report. I'm with them so that I get notified about any unusual activity. 1 Quote Link to comment Share on other sites More sharing options...
jumping350 Posted January 19, 2015 Share Posted January 19, 2015 (edited) same thing happened to me when i tried to borrow some more money, was having a dispute with service charges and paid the lump just before it went to court however they failed to tell the court and it went to court and was classed as 'unpaid' on my credit check I did afterwards...was livid. Long and short, if it all happened within the last 3 years its classed as recent history and your unlikely to get a positive decision, most people told me I just have to wait it out until its far enough in the past and in the mean time do everything to keep the credit clean. Mine was ages ago though so you might be better off now and all bank managers are different so a good letter is worth a shot Edited January 19, 2015 by jumping350 Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 19, 2015 Share Posted January 19, 2015 I suspect you're screwed. Mortgage companies do not like loaning to folks with any bad history at all, due to how tight the government made the regs now on them checking affordability. You may have better luck with a mortgage co specialising in bad histories, but expect to pay a crappy interest rate. What percentage deposit do you have? Are you past 15%? Just been through all this myself, albeit with perfect credit histories. Still took three months, still felt like it was never going to happen. Sarnie is your man though. 1 Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 The deposit isnt the problem we were looking at something like 65/70 % loan to value but i wanted to change my present product to a buy to let as we needed to move fast on the property for sale the figures based on our wages all worked out fine and i earn twice what she dose but the bank im with just have a no lend policy with bad credit were going to start trying to draft a letter up in a minute to be fair i dont know where to start or if its going help im feel fairly gutted ive been waiting for this chance to come up for some time and never owed a penny to anybody other than the bank for my house Quote Link to comment Share on other sites More sharing options...
Flex Posted January 19, 2015 Share Posted January 19, 2015 Do you need the mrs on the mortgage? If not do it yourself then reapply once your mrs is clean as it were. Quote Link to comment Share on other sites More sharing options...
sipar69 Posted January 19, 2015 Share Posted January 19, 2015 (edited) Unfortunately defaults remain on a credit record for six years from the date of being registered. Even if the original debt was subsequently paid off the record of the default will remain for that period and can have a very damaging effect on the ability to obtain credit. It's also worth bearing in mind that if you do enter into joint financial commitments with your wife her credit history could have an impact on you, as she will appear on your record as someone with whom you have a financial association. No harm in appealing but it's unlikely to change their mind. Edited January 19, 2015 by sipar69 Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 Unfortunately defaults remain on a credit record for six years from the date of being registered. Even if the original debt was subsequently paid off the record of the default will remain for that period and can have a very damaging effect on the ability to obtain credit. It's also worth bearing in mind that if you do enter into joint financial commitments with your wife her credit history could have an impact on you, as she will appear on your record as someone with whom you have a financial association. No harm in appealing but it's unlikely to change their mind. i need a new wife 3 Quote Link to comment Share on other sites More sharing options...
Flex Posted January 19, 2015 Share Posted January 19, 2015 Unfortunately defaults remain on a credit record for six years from the date of being registered. Even if the original debt was subsequently paid off the record of the default will remain for that period and can have a very damaging effect on the ability to obtain credit. It's also worth bearing in mind that if you do enter into joint financial commitments with your wife her credit history could have an impact on you, as she will appear on your record as someone with whom you have a financial association. No harm in appealing but it's unlikely to change their mind. i need a new wife import? 1 Quote Link to comment Share on other sites More sharing options...
WhackyWill Posted January 19, 2015 Share Posted January 19, 2015 Do it with her Sister. Sarnie your man as said above. 1 Quote Link to comment Share on other sites More sharing options...
Sarnie Posted January 19, 2015 Share Posted January 19, 2015 hi guys ill cut a long story short the missus and i have found the house of our dreams! and have just been turned down on the morgatage on the basis of her historic aragment plans that she had on some debt there down as satisfied but none the less its on here record as d for defult she has never had a morgatage before so is classed as a first time buyer my situation is i have been paying a morgatage for 7 years with a full clean bill of credit history but cant raise what we need on my wage alone the bank said i can apeal the disision which im going to but unlikly to change anything anyone have any suggestions I might be able to help, I run a Mortgage company First thing, don't waste your time appealing. You'll spend circa 8 weeks in a circle of letters acknowledging your issue, telling you they will look in to it only to come back to you with the same decision. A default isn't the end of the world, I got a mortgage approved for someone last week with 4 defaults! However, your most recent default needs to be more than two years old and your deposit needs to be 20% or more......................... Drop me a mail if you prefer? info@LT-Mortgages.com Liam 3 Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 No sister lol Ok I'll PM him now 1 Quote Link to comment Share on other sites More sharing options...
Sarnie Posted January 19, 2015 Share Posted January 19, 2015 No sister lol Ok I'll PM him now See my post above yours.^^ Quote Link to comment Share on other sites More sharing options...
nissanman312 Posted January 19, 2015 Author Share Posted January 19, 2015 hi guys ill cut a long story short the missus and i have found the house of our dreams! and have just been turned down on the morgatage on the basis of her historic aragment plans that she had on some debt there down as satisfied but none the less its on here record as d for defult she has never had a morgatage before so is classed as a first time buyer my situation is i have been paying a morgatage for 7 years with a full clean bill of credit history but cant raise what we need on my wage alone the bank said i can apeal the disision which im going to but unlikly to change anything anyone have any suggestions I might be able to help, I run a Mortgage company First thing, don't waste your time appealing. You'll spend circa 8 weeks in a circle of letters acknowledging your issue, telling you they will look in to it only to come back to you with the same decision. A default isn't the end of the world, I got a mortgage approved for someone last week with 4 defaults! However, your most recent default needs to be more than two years old and your deposit needs to be 20% or more......................... Drop me a mail if you prefer? info@LT-Mortgages.com Liam great i shall drop you a line there thanks everyone your help 2 Quote Link to comment Share on other sites More sharing options...
Tarmac@TarmacSportz Posted January 19, 2015 Share Posted January 19, 2015 hi guys ill cut a long story short the missus and i have found the house of our dreams! and have just been turned down on the morgatage on the basis of her historic aragment plans that she had on some debt there down as satisfied but none the less its on here record as d for defult she has never had a morgatage before so is classed as a first time buyer my situation is i have been paying a morgatage for 7 years with a full clean bill of credit history but cant raise what we need on my wage alone the bank said i can apeal the disision which im going to but unlikly to change anything anyone have any suggestions I might be able to help, I run a Mortgage company First thing, don't waste your time appealing. You'll spend circa 8 weeks in a circle of letters acknowledging your issue, telling you they will look in to it only to come back to you with the same decision. A default isn't the end of the world, I got a mortgage approved for someone last week with 4 defaults! However, your most recent default needs to be more than two years old and your deposit needs to be 20% or more......................... Drop me a mail if you prefer? info@LT-Mortgages.com Liam I need to talk to you soon as well bud 1 Quote Link to comment Share on other sites More sharing options...
KyleR Posted January 20, 2015 Share Posted January 20, 2015 I had a default on my credit report from May 2008 due to a joint finance I had, specifics are not required but I knew **** all about the missed payments until the court letter! Anyway... In those 6 years until May last year, I couldn't get one single bit of credit, except the rip off 40% credit cards and million percent loans, so I just had to deal without. Each year around January I would stick in a cheeky loan application to see if anything had change, but no, declined every time. Then come May I checked my credit report and it had finally bogged off. The next month I applied for a Barclays 0% for 3 years credit card and a £15k loan, both approved instantly online, near £7k limit on the card from the off which is pretty good for emergencies and 6.5% APR on the loan. Is really is amazing how much of difference that one default made to my life. Even though it was through no fault of my own, I could do nothing for years without saving up first. Quote Link to comment Share on other sites More sharing options...
sipar69 Posted January 20, 2015 Share Posted January 20, 2015 I had a fairly irresponsible attitude to credit in my younger years - (I'm talking about 20 years ago when I was in my early 20s when there was a lot less information available about the consequences of missing payments etc). A missed payment here, a default there, can blight your ability to get affordable credit for years. I'm now religious about keeping on top of everything and keeping a beady eye on my credit record. If you use any kind of credit it's worth checking your records to make sure they're accurate - I've had a number of errors corrected on mine in the past. (Also worth being aware that there are three main agencies so even if one record is accurate it's worth checking the others). 1 Quote Link to comment Share on other sites More sharing options...
ts743 Posted January 20, 2015 Share Posted January 20, 2015 Have you checked with Experian and Equifax to make sure those debts are marked as satisfied? There's no harm in double checking with them. I think it's probably £20 or something for your better half to get the latest status on her credit history. I think Experian are still doing their 30 day free trial for your credit report. I'm with them so that I get notified about any unusual activity. Forget those con artists... Noddle is free for life, as it should be, it's your data. https://www.noddle.co.uk Quote Link to comment Share on other sites More sharing options...
sipar69 Posted January 20, 2015 Share Posted January 20, 2015 (edited) But don't most lenders do their checks with Experian or Equifax? Noddle is fine but if you want to be certain your records are accurate you need to check all three, as the data isn't always consistent across the board (and yes I agree they're a con but you can use the free trial offers to do a one off check and then cancel.) Edited January 20, 2015 by sipar69 Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 20, 2015 Share Posted January 20, 2015 That's utterly useless, can't even find my details despite me not having moved or anything in the last 12 years. Experian got it right first time. Quote Link to comment Share on other sites More sharing options...
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