Urgent advice please re. mortgage app and credit checks!

housebuyer77_2

Thread resolved

Crashandburn

One thing to bear in mind on this is the policy change from intelligent Finance last Friday. They have ceased to provide any new mortgages but will allow clients to port their mortgages across but from what I understand, this is only on a like-for-like basis.

This policy change last week actually may be the deciding factor in which route you go down. I would give them a call to discuss this aspect as even their own staff seem unsure as to the implications as to what has happened

_Andy_

FYI your credit 'scores' are meaningless -each lender uses their own scoring system therefore are not relevant.

Crashandburn

housebuyer77 wrote: »

They say OK to port on existing terms i.e. same interest rate, as long as both transactions are settled on the same day. Do you have a source or any other info about changes to mortgages? thanks

Only the call I made to them today as well as another existing customer. It was more about the portability of the 2.5% SVR and was informed that you could move it but no more lending above that. I will ask the question again in a few days as by the call centre girls admission, she'd only read the policy this morning after returning to work.

You cannot open any more jars with them so this may be the difficulty you'll have with adding your partner to the plan

Crashandburn

No wonder they don't want to lend any more new mortgages with them hemorrhaging money on your deal :T

bigadaj

housebuyer77 wrote: »

Surely not 'meaningless' as otherwise what would be the point of all these services? Surely it gives you at least a good idea if any nasties are going to come to the attention of the lender's underwriters?

I accept IF say that even they do not know what their underwriters criteria are, and wont' reveal who the underwriter is.

What is your opinion on how key the electoral register is if I am on it but she is not? thx

The scores sold by experian and equifax are largely meaningless, the point of them is to justify people paying them money. Do a search on here, particu.alry te loans board, and you'll find 999 scores for bankrupts, ccjs arrangements to pay etc

[Deleted User]

I suspect not being on the electoral register at the house I currently share was a prime reason why my mortgage application was declined by Santander last year and personally I'd be wary of applying without being on it. If companies do use the register for simple identity verification, it would seem to be quite a big risk to apply without being on it.

hayleymoo

It's worth registering at the other property - you should get confirmation of acceptance of your registration shortly after doing so (check with the Electoral Office when you will get it) and you should be able to post/email this to Experian/Equifax. They may be able to update your credit record in this way, although I would ask them first.

If you spend the same amount of time at both addresses, it's not illegal to be on the Register at two addresses (obviously you can't vote twice at some elections!)