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Mortgage credit searches... Will there be more than one?
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kellyt86
Posts: 174 Forumite
Hi all,
I am in process of buying a shared ownership house and the full mortgage application is going through, just waiting on the employers reference which has been posted.
I had a full credit search done at the point of obtaining a decision in principle which went through without problems... and the full mortgage process started that same day.
My question is will they do another credit search before formally agreeing to the mortgage?
I upgraded my mobile phone contract as it got to the end of the period a couple of weeks before the DIP, what I didnt realise is that it shows as taking a new credit file as it changed from Orange to EE, it has just updated to show this so it wasnt there at the point of the DIP. I am worried now as it shows my score going down because of opening a new credit file. Before when I've upgraded it hasnt shown as a new credit account, but this one has because of change to EE (which I didnt realise).
It now shows me with two mobile phone contracts EE and Orange because I had two handsets through orange (one is my husband's and isnt up for renewal yet).
I am in process of buying a shared ownership house and the full mortgage application is going through, just waiting on the employers reference which has been posted.
I had a full credit search done at the point of obtaining a decision in principle which went through without problems... and the full mortgage process started that same day.
My question is will they do another credit search before formally agreeing to the mortgage?
I upgraded my mobile phone contract as it got to the end of the period a couple of weeks before the DIP, what I didnt realise is that it shows as taking a new credit file as it changed from Orange to EE, it has just updated to show this so it wasnt there at the point of the DIP. I am worried now as it shows my score going down because of opening a new credit file. Before when I've upgraded it hasnt shown as a new credit account, but this one has because of change to EE (which I didnt realise).
It now shows me with two mobile phone contracts EE and Orange because I had two handsets through orange (one is my husband's and isnt up for renewal yet).
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Comments
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Shared Ownership in other words you'll be renting."You know when it's cold outside when you go outside and it's cold"0
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No, part buy part rent... Buying 50% and mortgage & rent is still £140 less a month than what I'm currently paying!
But not sure how that helps my question re credit checks?!0 -
I currently have a mortgage application going through
my partner checked her credit file online and she saw one mortgage related credit search from when we had the decision in principle and a 2nd the day after we paid the fee for the mortgage valuation. This was with halifax, i expect you will see the same as me
Personally i would not be worried about a change to mobile phone contracts, but i've been spending the last few weeks avoiding putting anything on credit cards or using my overdraft since getting the decision in principleShared Ownership in other words you'll be renting.
Completely of topic trolling0
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