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Agreement in Principle

fatpiggy123
fatpiggy123 Posts: 1 Newbie
in Mortgages & endowments
Hi!

I am looking into getting an AIP but have heard that some lenders will trample over your cedit history more than others. A friend said Abbey (assuming santander) dont trample as much as others and thus wont effect your cr history.... is this true?

Thanks,

Comments

  • ACG
    ACG Posts: 24,852 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    An AIP is 1 credit search. All lenders (bar 2 i can think of) do whats known as a full credit search - which there is no problem with. The other 2 (Halifax and Aldermore) do what is called a soft footprint where they do not show on your credit report to other companies.

    These soft footprint searches are not really worth the paper theyre printed on as they do not do a full check.

    I have no idea where abbey/santander have come from. It makes no sense for lenders to trash your credit file as nobody would ever get a mortgage then.
    I am a Mortgage Adviser
    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.
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