£5 debt ruins my mortgae applications

[hotcurrie]

t is ridiculous the amount of power Banks and Credit Agencies have over our lives. We have a joint account with Halifax and not used since 2010. I wrote a cheque that took me £4.71 over. I could not find my HSBC chequebook at the time. Now applying for mortgage I am shocked that for £4.71 reported by the Halifax as unpaid is stopping me getting anywhere near a mortgage application. Since it is a joint account it is the same for my wife. It has taken me a week to get documents together so that my account can be updated at the HSBC to prove I have cleared the £4.71. So as yet the HSBC underwriters will not move until my local branch updates the fact I have paid off the Halifax.

Now before all you smug people out there who have OCD in sorting out every penny in their accounts and pockets advise me that I deserve my predicament for £4.71 in debt...get a F***** Life !!!

I say the banks especially the ones where us tax payers had to write off £billions ( Halifax HBOS ) just get real and stop reporting such small sums that ruin our chances of getting a mortgage. There should be a minimum total amount that should be reported to these credit scoring agencies. also big banks like HSBC should have the information that they can see how small the debt is and stop acting like the bitch out of Little Britain who says 2 computer says No ". I mean where is the risk where someone has forgotten about an old account with £4.71 in debt!!! Stop then acting like Shylock and Scrooge. Where do we get the chance to report the old accounts our Granny opened for us in 1960 which lies somewhere with money still in it....It makes me want to start a riot !!!

Edited May 21, 2014 by hotcurrie
spelling

[colin11]

i would go somewhere else and apply, i got a mortgage with a default on my credit

 

did you apply direct, or did you go to a mortgage advisor ?

 

as for being smug, no one here would be smug and judge you, people are just here to help

[Klandestine]

Now before all you smug people out there who have OCD in sorting out every penny in their accounts and pockets advise me that I deserve my predicament for £4.71 in debt...get a F***** Life !!!

 

I don't think anyone here has that opinion.

 

 

Now applying for mortgage I am shocked that for £4.71 reported by the Halifax as unpaid is stopping me getting anywhere near a mortgage application. Since it is a joint account it is the same for my wife. It has taken me a week to get documents together so that my account can be updated at the HSBC to prove I have cleared the £4.71. So as yet the HSBC underwriters will not move until my local branch updates the fact I have paid off the Halifax.

 

I say the banks especially the ones where us tax payers had to write off £billions ( Halifax HBOS ) just get real and stop reporting such small sums that ruin our chances of getting a mortgage. There should be a minimum total amount that should be reported to these credit scoring agencies. also big banks like HSBC should have the information that they can see how small the debt is and stop acting like the bitch out of Little Britain who says 2 computer says No ". I mean where is the risk where someone has forgotten about an old account with £4.71 in debt!!! Stop then acting like Shylock and Scrooge. Where do we get the chance to report the old accounts our Granny opened for us in 1960 which lies somewhere with money still in it....It makes me want to start a riot !!!

 

Billions of pounds weren't just written off. The government lent the banks money and also bought shares in Lloyds and RBS.

 

Reporting a minimum amount does seem like a sensible idea but how much is a "small sum" and where do you draw the line?

 

 

I agree that HSBC should be able to show some leeway but at the end of the day you want their money so you'll have to jump through their hoops.

Edited May 21, 2014 by ims21