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didn't declare a credit card debt
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still a bit worried about this can anyone advise if a mortgage application that ran for a week with incorrect information (undeclared debt as described above) is likely to stop my further advance from my current lender when they do the full credit check?
Only way to know for sure is to ask the lender you applied to if tghey have reported anything.
99.9% sure they wouldn't have done. Could have been that you were repaying the debt before completion.
Stop worrying.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The main thing to do is not worry about it. You probably acted fast enough and if you didn't it's already going to be too late to change that.
You would have been better off telling the first place about the information instead of applying at the second, though. Less chance of having trouble that way because they expect mistakes and expect them to be corrected from time to time.
Wait a couple of months and use the free Noddle.co.uk credit report. Or start doing it monthly from now. One thing it will tell you is if you have a negative CIFAS entry. If you don't by three months from now then you probably never will. At six months there's no more chance - nobody is going to file something with that long a delay. So this will get you gradually increasing certainty that all is fine.0 -
Final question on this hopefully - do you have to have signed an application before it could be considered a case for CIFAS. I had signed nothing0
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I don't know. A verbal consent to doing credit searches may well be sufficient. A written consent to searches surely would be, even without a full application as well. The most likely outcome is that they discarded your possible application as just someone shopping around as soon as you told them you were no longer interested. No incentive for them to spend any money on it after that.0
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Just out of interest, when being totally straight with your current lender, did you tell them that one reason for the additional advance was to pay off the credit card?0
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JimmyTheWig wrote: »Just out of interest, when being totally straight with your current lender, did you tell them that one reason for the additional advance was to pay off the credit card?
Yes - I was totally straight with them.0
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