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Advice on Credit History

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  • 29-05-2016 1:46pm
    #1
    Chinchan
    Registered Users Posts: 1 ✭


    Hi All,

    I’m struggling to get a mortgage approval due to credit history. I have shown by situation, can anyone advice me, what are the options available for availing a mortgage.

    I have an house in county side, the original mortgage lender was Halifax, Halifax closed their operation in Ireland and handed over the mortgages to Bank of Scotland.
    During the difficult time, i had to go into arrears. Bank of Scotland transferred the mortgage to Certus and I started paying the reduced mortgage payment with Certus.
    Certus transferred the mortgage to Tanager.

    Then I capitalised the arrears and paying the full payment over two years now, however my ICB report shows that I’m still in arrears. Tanager is not regulated by central bank of Ireland and the payment I make to Tanager is not fed to ICB, the full payments that I have been making to Tanager are not shown in the ICB. I spoke to ICB, they asked to contact Certus about the capitalisation and ask Certus to send the communication. I’m not sure if Certus would send the communication, as I did the capitalisation with Tanager.

    Currently Im living in Dublin trying to buy a property in Dublin, Bank rejects my applications as the report still shows that I’m in arrears and Bank asked to contact ICB to correct that I’m not in arrears.
    When I contacted ICB, they asked me to contact Certus.

    The report is a blocker now, can you please suggest the available options for me. It would a great help.

    Thanks million in advance.
    Tagged:


Comments

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    #2
    daithi1982.t
    Registered Users Posts: 6 ✭daithi1982.t


    Give the credit central register ago


  • Options
    #3
    gogo
    Registered Users Posts: 1,452 ✭✭✭gogo


    Banks are still checking both the ICB and CCR.

    It’s a hard one, ultimately lots of people got into bother and to be fair you addressed it.. get a good mortgage advisor/broker who is willing to explain exactly what happened here and what’s going on. But my secondary concern is why you still have the house? Do you plan to keep it, are you renting it? Getting into bother is one thing, but banks like to see it all squared up and tidied away.. but you are now essentially looking for a second house for whatever reason but you haven’t squared away the first one. I’d imagine it might not just the ICB catching you. You clearly managed to save a 20% deposit for a new house while the old house is showing arrears.. it doesn’t look good when your approach a bank who heavily rely on ICB/ccr reports.
    There is no way around it really, the ICB is there for just this reason, Id sit on those companies who are dealing with you to sort it.. keep hopping off their phones, I’d imagine your going to be stuck until then... is there a reason you haven’t sold on the country house? Negative equity?


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