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Halifax Mortgage Offer and Credit Checks
shaundiamonds
Posts: 55 Forumite
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Comments
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If you declared them at the application stage, I can't see them being an issue.
If you had applied for new credit after the application was submitted, then that is revealed by a random audit afterwards, that is where the problem could occur.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
No credit applications after application - no chance!
Just concerned that the credit might alert their automated CRA systems triggering a re-check if its classified as a new debt, whereas sure they would be able to see from the start dates that these were applied for and approved before I even went to the broker.
I can be a bit of a worrier!0 -
Have you increased your level of debt overall?0
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No its actually been reduced in reality, however its a bit complex and could be misunderstood as increased!0
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shaundiamonds wrote: »No its actually been reduced in reality, however its a bit complex and could be misunderstood as increased!
To a lender it will appear in black and white.0 -
Should have already appeared in black and white then - my question is about the timings around pre and post application CRA viewings and any actual knowledge people have about this.0
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I guess it depends what the debt is. I doubt a £1500 quid sofa taken over 4 years on interest free is going to make any difference unless you're at the absolute hilt of lending.
I asked my mortgage advisor about this as I ordered my after the mortgage offer was given but because I was lending some 40k less than the maximum she said they wouldn't bat an eyelid.0 -
I think I'm 43k less than they would lend me but there's so many variables and automated rules in these things I would not be 100% on that even if they told me so!
As I say this debt was factored in at application stage but my concern lies in it popping up now as a new debt.0 -
I don't think it'll be a problem. If you went and bought a 25k car on finance then yes, that'd be an issue. Don't worry about it.0
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