Each week, we round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:
Leading credit firm warns against mortgage fraud
One of the key things in the marketplace at the moment is obtaining accurate information to provide to lenders. By making statements like this, it just seems another drive for clients to spend more money with the credit reference agencies.
I feel we need to get easier access to this information as it is very difficult when interviewing a client to make sure that all the information is 100% accurate especially in light of things such as credit cards that are clear on a monthly basis.
If a client has pays off his monthly credit card balance of say £2000, then this will take some three weeks to be updated on his credit file.
You quite rightly submit an application saying he has nothing outstanding on his credit card only for the lender to say you have misinformed them and there’s another case added to the mortgage fraud stats!!
JM
09 Jan 2013 | 11:10
