2 decision in principles...same lender?

callmechar

I am sooooooo worried about credit check now 2 dips and 2 credit checks...therefore lowering your score

Wh05apk

callmechar wrote: »

I am sooooooo worried about credit check now 2 dips and 2 credit checks...therefore lowering your score

Don't be, 2 will be no problem, if you now go out and get another 6, that may cause a problem.

AskMeAnother

callmechar wrote: »

I am sooooooo worried about credit check now 2 dips and 2 credit checks...therefore lowering your score

Yeah seriously don't be worried about 2 credit scores. IMO this will make zero difference to you chances of getting a mortgage. Even more so if you plan on waiting a year now I would go so far as to say I'm 100% sure that 2 searches 12 months ago with have no bearing on a lender decision at that time.

In reference to other posters - searches on Call Credit should also show up on the other 2. I had a client who took a mortgage with Kensington recently (they use Call Credit) and the search showed up on his automated warnings as he subscribes to experian's monthly service.

callmechar

AskMeAnother wrote: »

Yeah seriously don't be worried about 2 credit scores. IMO this will make zero difference to you chances of getting a mortgage. Even more so if you plan on waiting a year now I would go so far as to say I'm 100% sure that 2 searches 12 months ago with have no bearing on a lender decision at that time.

In reference to other posters - searches on Call Credit should also show up on the other 2. I had a client who took a mortgage with Kensington recently (they use Call Credit) and the search showed up on his automated warnings as he subscribes to experian's monthly service.

Thank you all for your help...not overly happy about showing up on all 3 reports, but nothing I can do about it. Need to stand firm nxt time with EA - a lesson well learnt!

95% mortgage is too much stress (in 2 years) so standing firm for a 90% now...if only stamp duty exemption be continued!

callmechar

Hi again

I am now considering the Hanley 95% mortgage which seems like a good deal.

However will these 2 DIPs have an impact if we went down this route? Would do this via London and Country

AskMeAnother

IMO you'll be fine. Go for it and good luck!!

callmechar

Thanks!!! I am confused by this mortgage, is it in fact Variable?

AskMeAnother

Sorry I'm on iPhone right. Now. Gimme 20 mins and if no one else had answered I'll fire up my laptop and have a look for you. Sounds like L&C explained it well

callmechar

Thanks

Its a variable rate so if int rates rise its not such a good deal...shame

AskMeAnother

Yes it is. discounted from their standard variable rate. There's no guarantee that it will move in line with the bank of england, but they usually do (or very close).

If respected economists are to be believed there shouldn't be much happening to rates over the next couple years. So a variable rate right now is not a major worry.

Just remember that there's also not a lot expected to happen to house prices, so you may still be looking at 95% in 2 years time unless you've paid a decent chunk off your mortgage.