Hsbc mortgage declined

[monacool]

Hi everybody,

I wonder if I could get some advice on my situation as I am not sure what to do next.

 

I had an AIP approved with HSBC but then they declined the mortgage application due to a default on my credit.

 

It was registered by Capital One in October 2008.

 

In 2005 I had a credit card with them for £400.

Unfortunately my financial circumstances became difficult after a bitter divorce and a move to another town.

I started to pay only small amounts of money towards the balance and did not inform capital one of the change in address

thus I never received a default notice by post.

 

The account was passed to CapQuest.

 

As a result of a dispute over a credit agreement, CapQuest closed the account with no charge.

 

Is there a way of amending the default on my credit score,

who shall I be contacting,

CapitalOne or CapQuest?

 

I am willing to pay the outstanding debt.

 

Is there any chance of a success if I appealed against the HSBC mortgage 'declined' decision?

 

I have build up a good credit history over the years, scoring 991 with Experian,

been loyal to HSBC for 18 years, have a sizable deposit (75%LTV) and can support myself on my income.

 

Does it count with the underwriters or is the default going to be a deciding factor?

 

Many thanks for any advice you can give me.

[dx100uk]

there are two ways that sometimes work to getting defaults removed:

 

1

contact and pay the dca the outstanding monies

on the STRICT & WRITTEN CONFIRMATION FROM THEM

 

that the default and ALL neg data will be REMOVED

and the debt marked SETTLED not partial settlement.

 

make this a condition of your settlement to them

get it in writing FIRST that they will do so.

 

this means the default marker AND the late/non payment markers in the debt history.

 

2

if you can PROVE that the default was solely down to their PENALTY charges

and you reclaim those

cap1 should also remove the default etc as it was not a true reflection of how YOU

operated the account, more that they mis managed it by levying unlawful penaty fees [late/letter/over etc]

 

if they registered or sent a default notice

and the sum on the default notice contain penalty charges

that make the DN invalid so thus needs removing.

 

dx

[monacool]

Thanks for your quick reply, I am sure there were penalty fees on the default sum but it will be difficult to prove it after such a long time

I will probably have to contact DCA, is it better to write or phone them?

[BRIGADIER2JCS]

What is the default date?

[monacool]

October 2008

[noddy997]

You will have to wait til October 2014 for it to be removed.

 

Also, I strongly would go against getting a mortgage with HSBC.

 

Try a mortgage lender or a "real" bank.

 

You might currently get a mortgage with the default but again I strongly advise against this as the rates would be outrageous and even bogus companies saying they could might rip you off.

[monacool]

Thanks noddy, things don't look too bright for me then

[dx100uk]

well as you've got a year to play.

 

i'd sent CAP1 an SAR

get all the statements and lets start a reclaim.

 

dx

 

l

[rdm2006]

You will have to wait til October 2014 for it to be removed.

 

Also, I strongly would go against getting a mortgage with HSBC.

 

Try a mortgage lender or a "real" bank.

 

You might currently get a mortgage with the default but again I strongly advise against this as the rates would be outrageous and even bogus companies saying they could might rip you off.

 

I agree with noddy DO NOT UNDER ANY CIRCUMSTANCES GET A MORTGAGE with HSBC.

 

This bank has been fined by the american government for money laundering, and i would not be surprised to find they had done the same in the uk. if they are happy to do that what will they do to poor old joe public.