OMO: Default Payment Causing Mortgage Application To be Removed

You lot work some mircles from time to time and here I am in need of one.

We're currently in the process of buying a new home, the mortgage MUST be an offset one which allows family accounts to be linked to it.
Currently YBS (accord) seem to the only ones offering this facility, the problem is that they also use equifax credit scoring who in turn take into account any default payment on mobile phones.
We've just this morning heard that ORANGE have placed a default on my wifes phone back in July 2010. This amount is for £10 it seems that it must have been a closing balance request which has gone ignored resulting in the default.
So YES £10 is currently going to cost us our £500 deposit if we fail to resolve the matter before 23rd March.

Im fuming, panicing and completely confused...

Any and all suggestions welcome but bare in mind:
*Yes im aware I can just choose a different mortgage for now and allow resolution to run its course.

*Yes we're already contacting organge to have the payment made and the default removed... problem is they dont remove defaults and if they do its anything up to 6 weeks before it makes it way onto the credit report, which cripples our application.

IDeas?

[Bibio]

its not Orange that take 6 weeks its fekin Equicrap. they are aholes of the first order.

[timwilky]

You are lucky

My son had his mortgage offer withdrawn after he had signed the contract and before completion.

They said it was because he had failed to disclose a middle name that would have shown credit issues.

A check showed his full name was on the mortgage application he had supplied to a broker who had failed to fully complete the application. But on checking his credit record it was established his mortgage company had run checks in both forms of his name.

Fact was the company was withdrawing the product and trying it on. However, he had to appeal the decision to withdraw his offer which took him 2 months past the completion dates. That cost him £2000 in penalties.

Admin takes the time it takes unfortunately. I try and find ways to prove that I have taken the appropriate action to address the highlighted issue.

So in your case I would obtain evidence of the default, evidence of paying it off and then talk to your lender. If they are reasonable they will accept it. This means they might give you the mortgage or choose to wait until the system is updated but without you losing your £500

Best of luck - I know these are stressful situations

Originally Posted by timwilky

You are lucky
.

I gotta admit Tim it doenst seem that way right now but I know what you're saying and Im pleased the mortgage advisor caught it now.

Spoke with Orange (or wife did) and they've gladly accepted her £10 payment to clear the balance and say it'll take 24hours for the default to be lifted.

Does anyone know if I can call equifax and have them do a revised report which will take into consideration the removed default?

had a slightly similar issue when getting our morgage
to resolve it we had the default ref number from the company in question, and a letter from them saying it was a error on there part and i was up to date, the number on the default corsponded to the info on epuifax so they put both thru together with a note pointing it out and that there obviously would be a delay in the data update thru epuifax, the morgage company was more than happy with this (i assume they did a check with the origanal company and seen it was legit) and it went thru without further problems

so headed letter stateing your not in default with a referance number, attach that to your equifax info aand hopefully that should sort it out

hth
dave

Originally Posted by davepreston

had a slightly similar issue when getting our morgage
to resolve it we had the default ref number from the company in question, and a letter from them saying it was a error on there part and i was up to date, the number on the default corsponded to the info on epuifax so they put both thru together with a note pointing it out and that there obviously would be a delay in the data update thru epuifax, the morgage company was more than happy with this (i assume they did a check with the origanal company and seen it was legit) and it went thru without further problems

so headed letter stateing your not in default with a referance number, attach that to your equifax info aand hopefully that should sort it out

hth
dave

good advice

get letterheaded signed letters stating this and the mort company should accept these..

all the best, mortgages are difficult..