credit check skipton BS

richypat07

:mad:
Hi looking for a little help/advise!

We have started the process of moving house and have just accepted an offer on our flat. We have seen the house we want to go for, but our credit score is not the best by any means. But we seem to have an ok credit score with call credit. (3 stars)

I see there is a few threads about that say Skipton BS only use call credit, and that they don’t actually do a credit check and that they only look for CCJ’s. Is this true??

Also we have had a mortgage with HSBC for the last 2 and a half years and have never had a late payment. Would certain lenders look at this and class us as ‘less risk’ even with our bad credit scores?

Are there any other lenders about that use call credit for their mortgage credit search?


Many thanks
Richy

homer_j_3

most lenders will not alone rely on the credit file - although if things like ccjs or any adverse is present it may automatically fail an application.

I do believe with the Skipton that they consider many aspects. Yes they use call credit but they have access to experian and equifax if there isnt sufficient data on you.

richypat07

we dont have any ccj's and i've checked on all 3 credit agencies to confirm this - just late payments none in the last 6 months or so. Mainly because i worked away (royal Navy) and never set up all direct debits.

Would this make a difference?

Thanks

MortgageMamma

It can make a difference, most prime lenders dont like you to have any missed payments in the last 12 months

are you dealing with an adviser or doing this mortgage yourself?

richypat07

Myself so far...

We have an appointment with skipton BS on wed, and will be contacting HSBC next week.

How does an adviser work? Would they tell me what mortgages I’d get fairly quickly? Are they worth the cost?

Thanks

alan99_2

Hi

Just in case you havent seen it this link will show which lender uses which credit ref agency, although as the credit experts on this thread say a lender may still use one that they dont normally use.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1129725802,83707,

The full Moneysavingexpert link is here

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101485056,23650,

HTH

Alan

herbiesjp

richypat07 wrote: »

Myself so far...

We have an appointment with skipton BS on wed, and will be contacting HSBC next week.

How does an adviser work? Would they tell me what mortgages I’d get fairly quickly? Are they worth the cost?

Thanks

If you go to a whole of market adviser they will be able to offer you mortgages from the whole market place. If they are fee free advisers, it means you do not have to pay them a fee as they will get paid directly from the lender


THey would be able to reseraach the whole market for you very quickly using their research software, and they will be able to filter down to schemes that you are loooking i.e 25 years repayment mortgage, fixed for 2 years, allows overpayments with daily interest applied

This way you will get to see many more deals than just Skipton and HSBC - and you can compare those two lenders against what the adviser can find.

I would suggest getting an up to date credit report from Equifax or Experian though

richypat07

My credit reports are low but good with call credit. Would a broker be able to research mortgage deals available to me (ie pass credit search) without credit checking each individual quote? Just so I don’t have too many searches on my account making things worse.

Thanks

herbiesjp

richypat07 wrote: »

My credit reports are low but good with call credit. Would a broker be able to research mortgage deals available to me (ie pass credit search) without credit checking each individual quote? Just so I don’t have too many searches on my account making things worse.

Thanks

Yes that would be the general idea

With your credit file in front of them they woul dbe able to see which lenders could look look at your mortgage, and initially discuss verbally with the lender - so no need for credit checks.

If the lenders say that it fits their criteria, it would then be worth getting the agreement

Again, this normally all happens in the background without you knowing, and the the adviser will come back with several options to see which deal you prefer

HTH

richypat07

Ok sounds good.

So when they would get back to me with a few deals they would have already passed a credit check of some sort?

Thanks for yuor quick reply

herbiesjp

No

They would research your scenario first.

Discuss verbally and generically with lenders to see which ones would be happy to proceed

The adviser would then come back with some deal to look at with you

Then you would choose a deal based on criteria you are looking for i.e fixed rates, overpayment facility and daily interest

Only once you have decided on the deal you like, should you apply for an agreemnt in principle ( at which point a credit search is carried)

HTH