what to do with mortgage application?

um7y1h83ge06nx

I have a slightly messy issue not of my own doing.

We have a joint application for a mortgage with a bank at the moment. Almost a 40% deposit, good jobs, looking for over 100k less than they will give me.

The snag is that the underwriters are claiming that there is a person with the same name and DOB that had several loans taken out under a different address. They are not mine and I'm disputing that currently. I have applied for an ICB report and have requested that the underwriters enter into direct communication with me and provide proof of these loans including signatures and photographic ID used to obtain them.

It is my belief there must be another person with the same name and DOB out there.

We are currently sale agreed so our main objective is to get a mortgage approved, not proving who is right or wrong. I'm worried that the bank will wrongly decline us and draw us into a legal quagmire. I'm fully confident that I'm right but it might take months or more to get that decided, and we'll lose our ability to purchase.

Is it better to withdraw this application and go elsewhere? Afraid that if they decline us it will affect our chances with other banks.

Thank you.

um7y1h83ge06nx

The complaints department contacted me on Friday evening, about the complaint I lodged on Thursday.

They seemed sound enough. Explained we're anxious about the issue, that we're thinking of considering other banks and don't want a decline with them to cause issues in us dealing with other lenders, but we hope things don't come to that. He asked a few more details and asked a few more questions.

I then said I'm willing to cooperate fully but want the underwriters to cooperate too and provide proof of these loans along with the signatures and photo I'd asked to obtain them.

He said that a more detailed search would be done with the ICB and they would contact me. Hopefully I should have my report early next week and after submitting a copy of that I can't do anymore but to push back on them and get them to supply information.

Fingers crossed it can be resolved in the next few days.

Trish56

Why don't you apply online for a copy of your Credit Report and you will see exactly what records they hold. www.icb.ie

Once you have that information you can start contacting the banks and sorting the issue. As all lenders will get the same information so it is in your interest to sort out asap.

um7y1h83ge06nx

Yeah I should have the ICB report in the next day or so hopefully, applied for it last Wednesday evening. Not sure will it show up these loans as they are for a different address, which I have no knowledge of.

At least I can show the bank my report, not much I can do about this other guy which is what makes it a bit frustrating.

I'm sure it'll get sorted out with luck.

Blingy

Just to let you know All banks have access to the ICB so applying to another bank for the mortgage might not make the process any quicker as they will see the same details.
Once you get your report you can also contact ICB and discuss with them what the bank is telling you. Obviously they can't give you someone else's details but they might be able to shine a light on how to fix this. Good luck.

NewCorkLad

Dont withdraw the application as you could have the same problem with the next bank, but there is no harm in starting the application process with another bank incase your current underwriters are unwilling to co-operate.

Trish56

NewCorkLad wrote: »

Dont withdraw the application as you could have the same problem with the next bank, but there is no harm in starting the application process with another bank incase your current underwriters are unwilling to co-operate.

For the moment I would stick with the lender that you applied to initially as it's important to have your credit rating corrected before applying elsewhere. Once you receive the ICB report you will be able to identify the loans that have been connected to you in error. You can then approach the lending institutions for copies of the loan agreements and evidence of your signature, ID, utility bill etc.

I think this should be sorted quite quickly as you will probably get the report tomorrow. If nothing turns up on the credit report well then it looks like the loans are with the lender that you applied for the mortgage with and they will have to produce all the evidence such as ID and Utility bill as you cannot get a loan without these documents.
I think I can nearly guess who your lender is.
Hope everything turns out ok for you.

um7y1h83ge06nx

ICB report came back as expected and normal.

Underwriters say that it's good but when they look up the ICB they can still see these loans.

They want me to get the ICB to say I only have the credit card and mortgage. ICB said they stand over the report and Ulster Bank should contact them directly.

At this stage it's been escalated to Area Manager level.

Absolutely exhausted by this process by now, been at it for nearly a month, going applying elsewhere next week.

Branch manager will ring me in the morning with an update from his manager.

Trish56

I think you are going to have to provide proof to your mortgage provider and ICB that these loans are not yours. The lenders names and account numbers and dates etc. are on the ICB you got so you need to contact the lenders and ask them to provide you with copies of the loan applications, copy of passport or drivers licence and utility bill.

Mrs OBumble

Trish56 wrote: »

I think you are going to have to provide proof to your mortgage provider and ICB that these loans are not yours. The lenders names and account numbers and dates etc. are on the ICB you got so you need to contact the lenders and ask them to provide you with copies of the loan applications, copy of passport or drivers licence and utility bill.

Which surely they should only do if they are convinced that the OP was the borrower?

Trish56

Mrs OBumble wrote: »

Which surely they should only do if they are convinced that the OP was the borrower?

The OP has to prove to both the bank that he has applied for a mortgage to and ICB as both of them are convinced he was the borrower so unfortunately he has a bit of work to do to clear his name and drawdown the mortgage or else he will lose the property. Should be dealt with easily enough as account number etc. and all other details are on the report. This has to be sorted by the Financial Institution that filed the details under your name.

Something similar happened to me a few years ago in so far as I paid two months car loan for a neighbour of the same name and 4 days between us in ages.

um7y1h83ge06nx

I'm sending off a scan of my passport and my signature along with a detailed letter to the ICB today which should fingers crossed finally sorry it. They will cross check those with the id and sig the lending institution has on record for those loans.

The loans aren't in my report as the report is specific to addresses, so I've no details on them.

Still waiting to head back from the Head of Lending in the bank to see if they can give approval, not hopefully, reckon I need to do the above first.

um7y1h83ge06nx

Happy days, bank approved the mortgage this morning!

Will still be working with the ICB to sort this out for the future but the bank are happy to give the go ahead. Delighted to be over it, was getting to be a major headache. :-)

Trish56

Delighted you're sorted. Best of luck.