Is it possible to get a soft mortgage quote?

[Deleted User]

I'm looking to see if there is anyone who does a soft search first when making an mortgage application, like you can do for a CC or loan.

kingstreet

A lender's decision making is centred on providing you with a mortgage, or not. It doesn't work on charging you a higher or lower rate based on your credit worthiness.

If the system says "yes" you get to choose based on a list of products for your customer and loan to value group.

What are you trying to achieve?

[Deleted User]

I have an ongoing compensation claim against NatWest for incorrect information being applied to all my credit files.

I basically need to be able to prove that the adverse information on my credit files had the deciding negative affect which prevents me getting a mortgage. i.e. by a failed mortgage application and then asking the lender if this one and only piece of negative information on my credit file is the reason behind the rejection.

But I don't want to go getting a load of applications put through to facilitate this piece of evidence and in turn making a bit of a mess of my report with repeated searches.

Surely the credit files have a direct bearing on the application outcome?

(plus it would be nice to know if I would or would not be most likely successful or not if I applied right now just out of curiosity)

kingstreet

I don't know of any lender system which would do what you want.

You'd need to be able to identify the best deal you could achieve without the error and compare it with the best deal you can obtain with it. The only way this can be achieved is by trial and error and that will cause more problems than it will solve.

Lenders who credit score don't publish the workings of their scoring systems, so you can't point to a single fact and say, with any degree of accuracy, that XYZ lender would have given me a mortgage at y% if that fact hadn't got in the way.

[Deleted User]

This is what was kind of expected unless a lender saw favourable on such a compensation claim being made against a competitor.

However the next line of attack was that if it doesn't cause a rejection it causes unfavourable terms.

Which would require some trial and error or a lenders ability to do a check based on my information without and without the negative data from NatWest.

The problem I have is that I need to do this quickly (well saying that NatWest are proving incredibly slow in completing the removal of the information) as I won my original complaint with NatWest that the information was incorrect and should never of been on my reports but to date they have only removed it from Equifax and not Experian or Call Credit.

I've spoke to some on Legal Begals and they are quite interested in this case as they are have some very similar cases in the running at the moment which basically questions the legality of being able to apply such data to credit files without due process and checks because of the financial implications it can then have on the person concerned should that information turn out to be incorrect.

Conrad

If it were me I'd involve the information commisioner if you feel data held is unfairly unrepresentaive.

If Nat West truly have admitted a fault, you should be able to get all records ammended quickly as is a requirement of data protection regulation.

All that other faf about getting applications to fail and then somehow concocting some odssier of evidence against N West seems incredibly long winded and dare I say, pointless.