Lowell - Incorrect Default

[emmalou27]

Hi, I am looking for some advice/help.
I have recently applied for a mortgage which has been turned down, my Experian report did not show any reason why it should be but looking at Equifax it is now due to a default which is from Studio and now with Lowell.

The default is under a name which is not my own (showing same first name but not same surname) and the date of birth is incorrect (again same first day and month but Year is different by 5 years). Lowell have agreed that this default is an error and should not be attached to me and will get this removed however they are saying this change won't be reflected on my credit report for 50 days.

I have requested a letter on headed paper from Lowell to give to my mortgage company but this request has been refused.

Does anyone know how I can get a letter from them saying the default is nothing to do with me?

I am going to lose the flat I am purchasing if I am not able to get this sorted with the mortgage company quickly.

Any advice would be greatly received.

Thanks

[Amethyst]

Have Lowell said the default is an error in writing at all - email ? or just by telephone ?

Have you discussed the issue with your mortgage lender ? Have they said a letter would be accepted ?

Have you spoken with Equifax? they would have to 'check' with Lowell that it is an incorrect entry - but could add a notice of correction to the entry and they might be able to get a response and thus the marker changed faster than 50 days ( which is ridiculous ) -I'm guessing Lowell will report the removal on their next reporting day ( end of feb) then it won't show until the end of March. This is not fair and is entirely unecessary as they can make changes to the entry with immediate effect.

It might help to speak to the ICO regarding the issue. You can make a complaint to the ICO which might help get Lowell resolve it faster ( https://ico.org.uk/concerns/handling/ ) but I'd try speak to someone at the ICO first. The ICO need to be aware about the inaccurate reporting of the data anyway particularly as it seems to be a lack of checks on the basics like surname and Date of Birth.

You could also make a complaint to the Financial Ombudsman after making a formal complaint to Lowell. Actually make a formal complaint to Lowell now with a view to making a formal complaint to the Ombudsman for compensation dealing with this, and you'd be in a better position for a complaint over any financial effect this might have on your mortgage/purchase of the property if it doesn't get sorted out quickly. Potentially a formal complaint stating you intend to take it to the ICO and the FOS might get Lowells arse into gear quicker.

On this 50 day issue the ICO say

If the bank is responsible for this data why can’t they just update the entry on my credit file? It seems like it would be quicker.

They can. Each of the CRAs provides lenders with the facilities to make their own changes to the information you see on your credit file. So if your bank needs to make an urgent update they can do this without requesting that the CRA makes the changes for them.