When do banks update their systems re credit file?

[mgtmc]

So fed up. Applying for a new mortgage (split from husband and keeping the house in my own name) LTV is 46%. I work full time and been at my address for 15 years. Discovered a default on my credit file and was refused new mortgage.........default was a mistake and it was removed same week from all 3 CRA and also got a letter confirming it had been an error and now removed. This was 4 weeks ago, my mortgage broker reapplied yesterday and its still being refused on credit score..........my credit score is 944 but being told the banks system doesnt update instantly but no one can give me a straight answer when it does.

 

My broker said he will now send in everything to the Halifax and get the underwriters to look at my application and he will include a copy of my clean credit file and the letter confirming the incorrectly applied default.

 

Does anyone have any thoughts on this - when the update their systems. I have one account with Very thats sitting at £148 = uptodate and the credit limit is £2500. Plus i have an uptodate mobile phone account - never late with any payments. Everything is fine looking at my credit report now.

[mgtmc]

anyone help?

[Lea_HTH]

The person who can help is your broker, who has sent everything to the Halifax to get the underwriters to look at your application.

 

Not sure what else you think anyone here can do. If everything is as you stated it to be, then the underwriters won't find a problem.

[mgtmc]

I think am panicking thinking there might be another reason - cant think what though but I would have thought that when the credit file is updated its that uptodate file that the bank access............I just find it difficult to understand that the banks wouldnt be completely uptodate with such important information.

[BRIGADIER2JCS]

Elements that may affect a mortgage application.

Being on the electoral roll.(after 15 years you should be).

A large amount of your available credit is being used.

There has been numerous and frequent credit applications in the last year.

Pay Day Loans.

Your accounts on CRA files may be new and not yet giving a long term picture of credit management.

The accounts show as settled again giving no current credit management.

All lenders have their own unique "credit rating" systems which they use in conjunction with some of the data shown on your CRA files, the " credit score" is intended as a day to day indication for an individual to see how a credit application MAY be viewed by a potential lender.