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A short while ago I went to my building society to apply for a new mortgage deal and ask if I could borrow some more for new kitchen/bathroom/loft conversion. They went the application process with me and OH (took nearly 2 hours!!) only for them to say that a credit check had failed, which was a bit of a shock as we have never had any bad credit or missed payments etc.
we were told that they could not tell us why it failed and to get a credit report from the agency - £15 as we already had used up the free trial, this came back totally clear, and after several days of trying in vain to contact our adviser we eventually got in contact with her, she said that the check failed because she had entered a figure incorrectly in the application so the sums owed etc didn't reconcile.
meanwhile the valuation we had already paid for had expired so for us to carry on with the application we had to pay a further £150 for a new valuation. As you will understand this was not what we wanted to hear by then. But we had to pay up.
anyway, after going through the credit report my OH just on the off chance said "did you have any PPI on any previous loans" It turned out that I took a fairly sizeable loan with the same company in 2007 and paid it off a year early. I phoned the company and they confirmed I did pay PPI, to which I replied that I didn't realise. She said did I want to claim....
this is where the karma comes in.. If they didn't muck up the original application and get us to pay for credit checks and re-valuations, I wouldn't of realised that I had paid unwanted PPI and they wouldn't be writing me a cheque for £2500
we were told that they could not tell us why it failed and to get a credit report from the agency - £15 as we already had used up the free trial, this came back totally clear, and after several days of trying in vain to contact our adviser we eventually got in contact with her, she said that the check failed because she had entered a figure incorrectly in the application so the sums owed etc didn't reconcile.
meanwhile the valuation we had already paid for had expired so for us to carry on with the application we had to pay a further £150 for a new valuation. As you will understand this was not what we wanted to hear by then. But we had to pay up.
anyway, after going through the credit report my OH just on the off chance said "did you have any PPI on any previous loans" It turned out that I took a fairly sizeable loan with the same company in 2007 and paid it off a year early. I phoned the company and they confirmed I did pay PPI, to which I replied that I didn't realise. She said did I want to claim....
this is where the karma comes in.. If they didn't muck up the original application and get us to pay for credit checks and re-valuations, I wouldn't of realised that I had paid unwanted PPI and they wouldn't be writing me a cheque for £2500
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