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Hi all,
I have been reading these forums for a while and haven’t come across my scenario yet so thought I would make an account and post.
I had noticed a default on my credit file that I originally thought had come from a credit card I had done a full balance transfer on, turns out that was not the case and the default had come from O2. Now, the ‘debt’ was sold to Lowell and the amount was £16.06. My partner and I then went to see about getting a mortgage, and everything seemed okay and we found a property we liked and reserved it for £1,000. However, our mortgage advisor was having trouble finding us a mortgage lender and said we would be best trying to sort this unknown default first. I called O2 and they couldn’t find any account related to my details, and the lady I had spoken to had almost given up when she found something that linked to me. I spoke to her, quite vulnerably, about the scenario and said I wasn’t sure what had happened, etc. She promised me, after a long phone call where she had been very sympathetic and apologetic, that the default was to be removed. I clarified with her that that meant being taken off my credit file totally, and she clarified that yes, they would speak to the debt company and any relating companies and the default would be removed. She told me this would take 30-60 days, which wasn’t ideal as we had reserved a house, but still I was pleased with the outcome. Our mortgage advisor said we would be looking at more like 60-90 days as credit reference agencies only update their records once a month or so.
Following this, we spoke to the housing development and told them that unfortunately we wouldn’t be able to reserve the house and explained our predicament. Naturally, we were gutted but knew it wasn’t the end of the world. They were brilliant and said they were sad for us, but understood as it happened often. The cooling off period was 14 days so the £1,000 was still fully refundable. However, a couple of days later I received a call from them and they told me they were willing to hold the house for us until the situation was rectified, and that as it was the last plot, this had been agreed with the development. All they asked was that we started the conveyancing process and appointed solicitors to do the searches. I spoke to our mortgage advisor and he said this sounded fine. By this point we have spent £1,350 (with the reservation fee and solicitor searches).
Fast forward nearly 60 days since contacting O2, I contacted Lowell. They were not aware of the default being removed and said they would open a complaint and I would hear back from the team (note: it has been a week and I have still heard nothing). The Lowell employee told me he had put in the notes that this was affecting a mortgage, and my entire scenario.
Now, I am super concerned. We are technically £1,350 down if this default isn’t removed. I was categorically told that this would be removed from my file, otherwise we would never have gone ahead with the house purchase and we’d have waited. I don’t know what’s happened but it’s still there and nothing seems to have been done. The housing development are waiting for my news that it’s been removed and we can go ahead with the mortgage, but as of yet I cannot tell them this and I don’t want them to become impatient with me. I am at a loss with what to do here. I have contacted O2 to request an audio copy of the phone call I had, which I am waiting to receive (if I do, as apparently they don’t record all calls). Do I have any argument here or if it’s not removed, am I just going to have to cut my losses?
Thanks for reading & any advice is appreciated.
Sincerley, an anxious, devastated first time buyer.
I have been reading these forums for a while and haven’t come across my scenario yet so thought I would make an account and post.
I had noticed a default on my credit file that I originally thought had come from a credit card I had done a full balance transfer on, turns out that was not the case and the default had come from O2. Now, the ‘debt’ was sold to Lowell and the amount was £16.06. My partner and I then went to see about getting a mortgage, and everything seemed okay and we found a property we liked and reserved it for £1,000. However, our mortgage advisor was having trouble finding us a mortgage lender and said we would be best trying to sort this unknown default first. I called O2 and they couldn’t find any account related to my details, and the lady I had spoken to had almost given up when she found something that linked to me. I spoke to her, quite vulnerably, about the scenario and said I wasn’t sure what had happened, etc. She promised me, after a long phone call where she had been very sympathetic and apologetic, that the default was to be removed. I clarified with her that that meant being taken off my credit file totally, and she clarified that yes, they would speak to the debt company and any relating companies and the default would be removed. She told me this would take 30-60 days, which wasn’t ideal as we had reserved a house, but still I was pleased with the outcome. Our mortgage advisor said we would be looking at more like 60-90 days as credit reference agencies only update their records once a month or so.
Following this, we spoke to the housing development and told them that unfortunately we wouldn’t be able to reserve the house and explained our predicament. Naturally, we were gutted but knew it wasn’t the end of the world. They were brilliant and said they were sad for us, but understood as it happened often. The cooling off period was 14 days so the £1,000 was still fully refundable. However, a couple of days later I received a call from them and they told me they were willing to hold the house for us until the situation was rectified, and that as it was the last plot, this had been agreed with the development. All they asked was that we started the conveyancing process and appointed solicitors to do the searches. I spoke to our mortgage advisor and he said this sounded fine. By this point we have spent £1,350 (with the reservation fee and solicitor searches).
Fast forward nearly 60 days since contacting O2, I contacted Lowell. They were not aware of the default being removed and said they would open a complaint and I would hear back from the team (note: it has been a week and I have still heard nothing). The Lowell employee told me he had put in the notes that this was affecting a mortgage, and my entire scenario.
Now, I am super concerned. We are technically £1,350 down if this default isn’t removed. I was categorically told that this would be removed from my file, otherwise we would never have gone ahead with the house purchase and we’d have waited. I don’t know what’s happened but it’s still there and nothing seems to have been done. The housing development are waiting for my news that it’s been removed and we can go ahead with the mortgage, but as of yet I cannot tell them this and I don’t want them to become impatient with me. I am at a loss with what to do here. I have contacted O2 to request an audio copy of the phone call I had, which I am waiting to receive (if I do, as apparently they don’t record all calls). Do I have any argument here or if it’s not removed, am I just going to have to cut my losses?
Thanks for reading & any advice is appreciated.
Sincerley, an anxious, devastated first time buyer.