How many times will you be credit checked during a mortgage application process?

CharleyCheese

Hi all

I know that you will be credit checked following application and before an offer is made, as this is the standard when applying for any type of credit.

My query is whether there would then be any follow up credit check a bit further down the line? I am considering applying via Nationwide and want to get my bits in order beforehand but have read some horror stories of offers being then withdrawn after last minute credit checks etc.

Is the follow up credit check standard or does it depend on an audit process?

Cheers in advance for any assistance.

swanny78

I was credit checked once during AIP and again in full application..part way thru now so not sure if Ill get anymore.

bt1

I'm also in the middle of the process, has 1 on AIP, 1 on teh day my full application when in (Tues) and 1 today :-/

CharleyCheese

When you say full application do you mean once you'd fileld out the form and sent the documents to the lender?

I was wondering more whether I'd be credit checked again after a mortgage offer has come out?

CluelessFTB_2

bt1 & swanny - how are you checking when you have been credit checked?

amnblog

Credit. Checks failing after an initial pass are usually the result of a name or address being submitted that is not 100% correct.

For example John Smith is not John Michael Smith.

Flat c, 29 Archer Road is not Top Floor Flat 29 Archer Road.

These minor changes can have a massive difference on credit score.

Always provide your full name as per your passport and address as held by Royal Mail.

bt1

CluelessFTB wrote: »

bt1 & swanny - how are you checking when you have been credit checked?

I have equifax free trial... Comes up under the searches

holly_hobby

You will have an initial CRA search on full application , of which the lender may make a further ad hoc (audit) search at any point right up to the day of completion (which they can and often do) - so after acceptance and offer is recd, don't go getting any further credit, open any HP or store cards, until after completion takes place.

Hope this helps

Holly

CharleyCheese

Hi all, just wondered if there are any updates on this situation? Are Nationwide likely to credit check me again before completion? Mortgage offer has already been received and necessary checks were all carried out then.

holly_hobby

The situation doesn't change .... and is the same will all lenders.

Refer post 8, any further status checks the lender deems necessary or wishes to conduct, can occur right upto completion actually takes place.

So, the answer remains the same, to be sure of no hiccups, don't default on, or obtain/open any further credit accounts until you have completed.

Hope this helps

Holly x

GMS

CharleyCheese wrote: »

Hi all, just wondered if there are any updates on this situation? Are Nationwide likely to credit check me again before completion? Mortgage offer has already been received and necessary checks were all carried out then.

By update do you mean somebody telling you what you want to hear, ie no further checks?

You want to buy a car as you need to replace yours. Understandable. However do you want to drive your car to the house you thought you were going to buy but had the offer pulled last minute following a further check by the lender?

May not come to that but why risk it?

Could you not rent a car until completion takes place? Enterprise do decent deals for month plus rentals. Rented one myself whilst between cars.