Damaging credit score?

Bertie_the_third

We need a MIP decision but may struggle as we are self employed. If we approach separate lenders (our own bank and scottish widdow re their "professional" mortgage) as well as asking a broker will they each run a credit check and damage our score? I tried reading Martins guide but wasn't sure so thought I'd ask here!

thanks

B

powerwin

My understanding is that as soon as you start asking for Agreement in Principle, then they will want to do a credit search as this is a quick way of finding out a lot about you and your suitability. However, what I don't know is how many credit searches start to do damage.

You can use website calculators to gain mortgage illustrations, or ask for illustrative figures from lenders without them doing a credit search. These don't provide any guarantee of lending whatsoever, but you can use them to whittle down suitable lenders, maybe to just one lender, and then go for your agreement in principle.

This is not professional advice.

Rgds

Bertie_the_third

thank you, will try that:)