Hi All,
This is my first (long) post so my apologies if this is in the wrong place or the questions are a bit dumb.
We would like to remortgage, our tracker with Santander has just finished (upping form 3.29% to their SVR 4.74%, roughly a £80pm jump). OK we thought go back and see what they can offer as we did last time. Best (only) they would offer is a 2 year fixed at 4.49%. Not good enough.
So after some reading on here I approached Town&Country for advice, they suggested some different packages and we started yesterday with an application to the Nationwide. Unfortunately this was turned down almost straight away.
Now I had some credit issues back in 2006 with CCs, an overdraft and a bank loan. These were handled via a CCCS payment plan for about 18 months until I came to arrangements to clear the balances, the majority with partial payments for Full and Final Settlement. The last in January 2009. To see where I stood the T&C agent suggested getting a copy of mine and my wifes credit reports from Experian.
I did this last night. Both show an excellent credit rating score of 999. However mine says 1 negative factor and some red dot flags against the above mentioned lenders. The negative factor is one of the CC accounts still showing a default balance of £2571, the difference between the outstanding balance and what they accepted as partial payment in Full and Final Settlement in February 2008.
My question. How bad is this, I assume its why Nationwide refused and what can be done in getting a better deal on a remortgage?
As an aside while on the Experian site I clicked through a couple of their mortgage links and this morning a get a call from a chap from Just Remortgages. A quick chat and hes offering his services in our situation. Again anyone heard of them and is this normal from Experian?
Thanks for listening.
This is my first (long) post so my apologies if this is in the wrong place or the questions are a bit dumb.
We would like to remortgage, our tracker with Santander has just finished (upping form 3.29% to their SVR 4.74%, roughly a £80pm jump). OK we thought go back and see what they can offer as we did last time. Best (only) they would offer is a 2 year fixed at 4.49%. Not good enough.
So after some reading on here I approached Town&Country for advice, they suggested some different packages and we started yesterday with an application to the Nationwide. Unfortunately this was turned down almost straight away.
Now I had some credit issues back in 2006 with CCs, an overdraft and a bank loan. These were handled via a CCCS payment plan for about 18 months until I came to arrangements to clear the balances, the majority with partial payments for Full and Final Settlement. The last in January 2009. To see where I stood the T&C agent suggested getting a copy of mine and my wifes credit reports from Experian.
I did this last night. Both show an excellent credit rating score of 999. However mine says 1 negative factor and some red dot flags against the above mentioned lenders. The negative factor is one of the CC accounts still showing a default balance of £2571, the difference between the outstanding balance and what they accepted as partial payment in Full and Final Settlement in February 2008.
My question. How bad is this, I assume its why Nationwide refused and what can be done in getting a better deal on a remortgage?
As an aside while on the Experian site I clicked through a couple of their mortgage links and this morning a get a call from a chap from Just Remortgages. A quick chat and hes offering his services in our situation. Again anyone heard of them and is this normal from Experian?
Thanks for listening.