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Mark on credit history

Discussion in 'Property Finance' started by Joshwaaaa, 10th Jul, 2015.

  1. Joshwaaaa

    Joshwaaaa Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    376
    Location:
    Adelaide
    So as it goes I have a couple of home loans all is good no dramas there. The problem lies with my other half, we took on another loan for a build in December last year no worries got it cleared and through without issue. Come today we were just given handover on the build last Friday, went straight back to our broker on Monday to free up some equity ($18000 there's plenty there) just to finish up the build, driveways, flooring, landscaping etc.

    So today broker calls up to tell us no can do, black mark against her from 2012 for a loan or something. Ummm........ we just borrowed $180k just over 6 months ago with no word of this. Added to the fact we had our first kid in dec '11 so '12 was spent doing anything but taking out loans.

    Ever heard of something like this happening before? Cant understand why our original loan was approved if this was the case.


    We are still waiting on a credit report for her to see exactly what's going on but Friday arvo was the worst time to find out. She is actually rather upset at the moment as we had big plans for this year which would have required the borrowing power of both of us.
     
    Last edited: 10th Jul, 2015
  2. Marty McDonald

    Marty McDonald Mortgage broker Business Member

    Joined:
    22nd Jun, 2015
    Posts:
    228
    Location:
    Sydney North Shore and Norther beaches
    Get a copy of your report ASAP..
     
  3. Joshwaaaa

    Joshwaaaa Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    376
    Location:
    Adelaide
    Broker said she's going to source us a copy, hopefully should see it monday. Just have a weekend to ponder over it.
     
  4. Kinnon Bell

    Kinnon Bell Finance Broker

    Joined:
    14th Jun, 2015
    Posts:
    474
    Location:
    Cairns
    Depends on the default itself, who the default it listed with, LVR and lender but sometimes a small blip on your credit report can be ignored by the lender. Especially if the lender has DUA or loan it outside of LMI territory. If not disclosed to them upfront then they can ask what the situation is surrounding it.

    Maybe you had a credit assessor who deemed it unimportant in the scheme of things and didn't pursue it? Very unlikely though.
     
  5. Pins

    Pins Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    100
    Location:
    Melbourne
    I subscribed to Veda and have also spoken to them in the past but sometimes it can be hard to get specifics

    also you can go to creditsavvy.com.au and get your actual score
     
  6. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,167
    Location:
    Adelaide, SA
    If you don't want to wait on your broker and happy to stump the cash up, you can get it near on instantly from www.mycreditfile.com.au

    Depending on the default and $ amount, may be able to be explained away if paid.