Mortgage Credit Check....

kconnor

OK - does it matter on the amount gifted? In my case it will be 20k...
I'm presuming if it's coming from a loan which my parents are paying back and taking responsibility for, money laundering evidence won't be a problem as they will accept bank statements?

My broker is aware that the mortgage needs to be in just my name and she believes she can get one with Nationwide - so I'm presuming that is OK??

Senior_Paper_Monitor

If you are using a broker she will be aware of the risks and ensure she presents the case to a suitable lender (and should be answeing these questions rather than a bunch of strangers on a forum where you don't know our backgrounds and we don't know your detailed circumstances).

The amount shouldn't be a problem - 'know your customer/money laundering' checks are now tending to get a tad more intrusive than a quick look at bank statments, but shouldn't present a problem either.

kconnor

I'm merely asking the questions on here for a general opinion (as I believed this was the point of the forum!) - I will be posing these questions to her tomorrow so don't worry!

rickydark

Out of curiosity, which comparison website were you using?

kconnor

I believe it was confused.com....very annoying.
Also annoying that I've been advised I should take this as a warning when searching insurance - in order to shop around, they all require my details (even Aviva who I went direct to for a quote). I don't see why I should have to go through any kind of check when finding out if I can get a cheaper deal on something I pay for direct from my account.

If I was asking for credit, then fair enough. But how on earth you can therefore find the best deal without going through this baffles me somewhat.

CBR600F_2

That's very worrying indeed to hear that you've had credit searches done by visiting price comparison sites.

Senior_Paper_Monitor

Comparison sites are not necessarily the 'internet chums' that their owners hold them up to be - personal data voluntarily given (and in the process DP waivers given) is the product that they derive most of their revenue from !

angelsmomma

The sites new owners did a credit check on me when I used their site. It was for a credit card but I did not give them permission to credit check me and they certainly did not ask or point out one would be done. It irritates me every time I check my credit file. I will never use it again for that reason.

A yougov survey I did yesterday was on using comparison sites and I answered that I wouldn't use them because of them credit checking.

MoneySaverLog

I thought these price comparison sites did a "soft search" so they are not actually visible to other lenders.

Is this not the case then, are these searches visible to other lenders? Is the experian rep here?

Senior_Paper_Monitor

See #9 - it is not always easy for an individual to interpret their report.

Many of the searches that 'web sites' conduct are soft - but NOT all.

My opinion is that it is often the 'secondary actions' as data is provided onwards that leads to the biggess problems.

I probably read half a dozen 'credit reports' a week - I still have to pull the manuals and working notes out to work out what is actually happening.