Santander AIP

sean9461 · 6 February 2016 at 5:52PM

Hi, i have limited credit history, only started building it less than a year ago, my credit rating with experian is only around 550 at the moment due to this.

Im looking for a mortgage with 15% deposit. I have stable employment evidence can be provided.

Santander just gave me an AIP which i was extremely surprised about since i have little to no credit history. Only 2 credit cards being paid off in full each month, only opened 4 months ago.

If santander gave me an AIP would that mean i have passed their credit check, and as long as nothing changes between now and the full application would it still stand?

Or is the AIP not worth anything as they dont check properly or the AIP is only looking for defaults etc and ill be declined when a person looks at it and see's that i have limited history?

ive been passed around from broker to broker, some not even bothered to help which gives me the impression they think they arent going to get a paycheck at the end of the day because they cant get me a mortgage.

Getting very worried lately as i have an offer in on a house that i might end up losing if i dont get a mortgage offer soon

thanks for any help

betmunch · 6 February 2016 at 6:08PM

Am I reading this right, you've tried several brokers and none of them got you an AIP so you just popped into Santander and got one easily?

The AIP includes a credit check and passing it means they will consider a full application

sean9461 · 6 February 2016 at 6:16PM

yeah your reading this right, however the brokers got me AIP's with lenders like kensington, and they just kept asking for loads and loads of evidence which in my situation was impossible to provide. Rental reference, (rent not in my name atm, although i pay it) then 6 months bank statements, and more.

I have got an AIP through santander i just did an application online but I also got one from natwest. I phoned natwest though and they told me all they do at AIP stage is check for defaults, if a default, ccj or anything adverse is detected they decline, otherwise it can pass. So even though i have an AIP i fear i will be declined based on score alone which is low due to limited history

sean9461 · 6 February 2016 at 6:17PM

What was wierd though was i got an aip for natwest so i told the broker as i would rather have help with the application, he sent off a dip for natwest for me but i got declined. I have no clue how

betmunch · 6 February 2016 at 6:21PM

That is odd, there must be something different between what you and the brokers are entering.

You can't blame the broker for what Kensington ask for, and they will ask a lot.

sean9461 · 6 February 2016 at 6:23PM

dont get me wrong i never blamed him. I just dont understand whats going on. He told me his AIP is different to mine, and can differ a lot?

Im pretty sure the broker will be entering the same things i did, however i noticed on my credit report, the date of birth he entered said i was 30 years older than i am. But when i asked him about it he said he was able to contact natwest and correct it without another credit search :S

Do you happen to know what santander do at AIP stage? if they were to not accept someone with limited history would they decline at AIP stage or is the computer system not equiped to search for this scenario?

Thanks

betmunch · 6 February 2016 at 6:31PM

The Santander AIP is as good an AIP as you will get, which doesn't mean a lot. If I get one for a client I expect them to honour it.

Not sure about that stuff about NatWest and changing the DOB without redoing the AIP

sean9461 · 6 February 2016 at 6:33PM

what sort of evidence are santander usually likely to ask for?
Are they known for asking for rental references/ employer references these days?

sean9461 · 7 February 2016 at 11:17AM

Anyone else had a similar situation with Santander?

amnblog · 7 February 2016 at 12:22PM

This does not add up Sean.

Why would more than one broker take you to a specialist lender like Kensington if you fit with lenders like Santander and Nat West?

Have Santander pulled up the correct credit file for you? Are there different spellings for your name? Or a previous name? Or is your current or previous address set out in variable ways?

You get a yes from Nat West, broker gets a no? Someone has entered the data incorrectly.

sean9461 · 7 February 2016 at 3:15PM

I have no clue what the broker is entering but my previous addresses can't go wrong as I've lived in this address for 7 years so before this house I was under 17 years old so there's no previous address to add on my report. I only have a bank account on my credit report as my previous current account was a basic account that didn't report to cras .

So I only have very few accounts on my credit report. Two credit cards that have 4 payments so far.

I don't think he even bothered with Santander etc from the offset I gave him a copy of my report and from there he recommended Newcastle building society which declind me according to him then tsb which declind me, however I just did one with Santander which gave an accept,

I have no clue what's going on but it is pretty much impossible for him to input my details wrong as I say I only have one address and my name and date of birth aren't that hard.

Santander AIP

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