Do Mortgage Brokers Do A Credit Check?

cheersthanksbye

I am just starting to look for a new mortgage using some brokers (I am a self employed contractor so using specialised contractor brokers by the way).

They have asked me for a shed load of information which is fair enough, including my current address, as well as time at the address, D.O.B. etc. Sounds to me like they will be doing a credit check on me.

Will this check look bad for other lenders? I know that if you apply for a shed load of credit cards, they can see how many checks have been done on your file and can conclude you are in trouble. So will asking a number of brokers to do a search effect my credit rating in this way?



Cheers,

RH

payless

some do ( what a broker gets is less than what a lender / yourself gets)

others may use the lender to do an "agreement in principle" which includes a credit check.

either way it needs your express permission.

herbiesjp

The information requested may help them to initially look into your scenario i.e. help find some suitable products to put forward.

Hopefully once these have been discussed, they will ask for your permission to get an agreement in principle (if necessary), and it is at that point they will carry out a credit search.

HTH

cheersthanksbye

Sent him an email asking if he was going to do a credit check and he replied with:
"No just look at your requirements and make a recommendation based on the info you provide. No credit checks are carried out at this stage, or without your consent."

So have that in writing now.

After previous experience I can't overstress the consequences of rogue credit checks!

Thanks for your help guys.