Personal Declaration with ICB ??

TrishSimon

Hello looking for advice here, my husband has a loan missed one payment March 2013 his wages normally go in 21.03.13 and this month it went in 25.03.13 and the loan always comes out the 22nd so the money was not there.
Direct debit was taken 14 days later which is the norm but he was registered with the ICB by BOI for having a missed payment the account has been paid on time and up to date since then but we are now going for a mortgage and we are being refused based on his ICB report.

We have done all we can with BOI to ask them to remove the bad credit history on him as it was paid 2 weeks later but they wont for another 6 months.
ICB have advised my husband to send in a personal declaration to them for when he is credit checked again I have googled what this is and I understand but I am just wondering has anyone else done this and does it make any difference to getting approved for a mortgage.

I have told the broker he is doing this plus we can get a guarantor if needed.

Trish56

I think your broker needs to appeal the decline decision based on the fact that the payment was missed due to the your salary hitting your account late and it was paid when they applied again. You need to apply to BOI and get a current account statement proving that your salary is normally lodged on 21st of each month and a loan statement from commencement of loan to date.
Do you know why your salary was 4 days late going into your account. Is this anything to do with BOI??

Get your broker to forward statement and I believe once the lender sees the statements that your mortgage will be approved.

You should for future reference send in the Declaration stating payment was missed as salary was late reaching your account.
Best of luck

TrishSimon

Trish56 wrote: »

I think your broker needs to appeal the decline decision based on the fact that the payment was missed due to the your salary hitting your account late and it was paid when they applied again. You need to apply to BOI and get a current account statement proving that your salary is normally lodged on 21st of each month and a loan statement from commencement of loan to date.
Do you know why your salary was 4 days late going into your account. Is this anything to do with BOI??

Get your broker to forward statement and I believe once the lender sees the statements that your mortgage will be approved.

You should for future reference send in the Declaration stating payment was missed as salary was late reaching your account.
Best of luck

Thanks Trish56 things have gone further now BOI refuse to contact ICB to change report they are stating they dont care that his salary was late going in he missed a payment and that is all there is to it, Broker said the banks wont accept statement of declaration they just want to see a clean ICB report. My husband has sent one in anyway to the ICB, luckily for us a close family member has just retired as a financial advisor from BOI so has given us all the tools we need to take the matter further.
I made a complaint today to the Financial ombudsman and surprise surprise BOI answered us right away where as they were ignoring all calls and emails requesting they chance the ICB report.

I have also asked them for a copy of the rules which state how long a person has before they report you to the ICB as the loan payment was paid approx 10-14 days later so we'll see how it goes.

Trish56

TrishSimon wrote: »

Thanks Trish56 things have gone further now BOI refuse to contact ICB to change report they are stating they dont care that his salary was late going in he missed a payment and that is all there is to it, Broker said the banks wont accept statement of declaration they just want to see a clean ICB report. My husband has sent one in anyway to the ICB, luckily for us a close family member has just retired as a financial advisor from BOI so has given us all the tools we need to take the matter further.
I made a complaint today to the Financial ombudsman and surprise surprise BOI answered us right away where as they were ignoring all calls and emails requesting they chance the ICB report.

I have also asked them for a copy of the rules which state how long a person has before they report you to the ICB as the loan payment was paid approx 10-14 days later so we'll see how it goes.

I presume your loan application did not go to BOI. I don't agree with your Broker and would insist that he appeals the decision and submits a letter from yourself explaining what happened and attaching statements to prove same. Very mean from BOI however it wont look good for the if it goes to the Ombudsman.

TrishSimon

Trish56 wrote: »

I presume your loan application did not go to BOI. I don't agree with your Broker and would insist that he appeals the decision and submits a letter from yourself explaining what happened and attaching statements to prove same. Very mean from BOI however it wont look good for the if it goes to the Ombudsman.

No loan application went through broker he did try all banks including boi. Broker knows the personal declaration has gone to Icb but still told us to get the Icb report clean and we can go from there. Fingers crossed boi will sort it so we don't have to do the whole ombudsmen route