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  • FIRST POST
    • BFC123
    • By BFC123 14th Jun 17, 11:42 PM
    • 4Posts
    • 1Thanks
    BFC123
    Mortgage Application Worries.
    • #1
    • 14th Jun 17, 11:42 PM
    Mortgage Application Worries. 14th Jun 17 at 11:42 PM
    Hi guys ;

    Just after some information , so hope you can help. We have our formal offer from our lender and borrowed 60k less than possible we were wellbin on affordability. However my car insurance became due so took it out on monthly DD like we always do ... now here is where the problem lies . This now shows on my credit file as another commitment . My previous insurance company didn't report it on my file however was visible to the lender when we applied . This has since dropped my score as it appears as a new credit account . Is this likely to result in our mortgage offer being withdrawn ?
    I would have paid for this outright if I knew it would have such an affect . Worried sick about this now!!!
Page 1
    • glosoli
    • By glosoli 15th Jun 17, 12:00 AM
    • 574 Posts
    • 328 Thanks
    glosoli
    • #2
    • 15th Jun 17, 12:00 AM
    • #2
    • 15th Jun 17, 12:00 AM
    Don't worry about it, it won't have any impact what so ever.
    • BFC123
    • By BFC123 15th Jun 17, 12:04 AM
    • 4 Posts
    • 1 Thanks
    BFC123
    • #3
    • 15th Jun 17, 12:04 AM
    • #3
    • 15th Jun 17, 12:04 AM
    Thank you for the reassurance , this is our first home together and so are pretty new to the process. There's just so many stories of people having their offer withdrawn for extra credit being taken . However I hope the mortgage company see its pretty essential being car insurance .
    • glosoli
    • By glosoli 15th Jun 17, 12:08 AM
    • 574 Posts
    • 328 Thanks
    glosoli
    • #4
    • 15th Jun 17, 12:08 AM
    • #4
    • 15th Jun 17, 12:08 AM
    All of the credit checks have been done before the offer document being issued, it is not common practice to do another credit check after the offer has been issued. In any case, if it was to happen, I am guessing they have already captured a figure for your car insurance as part of the process so it's likely to already to be accounted for within the expenditure figures anyway.
    • BFC123
    • By BFC123 15th Jun 17, 12:13 AM
    • 4 Posts
    • 1 Thanks
    BFC123
    • #5
    • 15th Jun 17, 12:13 AM
    • #5
    • 15th Jun 17, 12:13 AM
    That makes sense and to be honest it's 15 quid cheaper than last year anyway so should only be seen as a positive . Thank u for your advice glosili. This whole process is making me worry about things that I would never have considered previously lol
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