Applying for a mortgage

iandv

Hi

When making a formal mortgage application after it has been agreed in principle and after conducting credit checks to come to a decision on a mortgage in principle

When they do checks on the formal application will they look for outstanding car loans/hire purchase, credit cards etc again? or is it only certain lenders?

shortchanged_2

Why, are you hiding something?

GMS

Lenders should not have to look for your credit commitments, you should be disclosing them. Non disclosure is mortgage fraud.

If you are not disclosing credit commitments what is the reason? If it is because you knwo you would not be granted or be able to afford the mortgage then you need to have a serious think as to whether you are ready to take on a mortgage. It is not a pair of shoes, you cannot return it because you no longer like it very easily.

TrickyDicky

For agreement in principal a credit check usually isnt made - its a quick offer made on the information you gave.

For the real agreement, they perform a full credit check that shows all of your loans, credit cards and overdrafts, what the current balance is and what the limit is and what your payment history is like. They will probably check everything you told them against your report. If they think you're trying to hide things, they will decline you.