Notice of Correction

tain

jonnyb wrote: »

I work for one of the 3 main CRA's. This is my personal opinion.
Adding a NOC to your file will not lead to any automatic rejections, as the rules surrounding NOC say that they have to be manually reviewed.

So you may benefit from not being automatically rejected. I do still expect a manual underwriter to take a dim view of the situation you have described, but surely some small chance is better than no chance, so stopping automatic rejections has to be a benefit.

If it was me, I would add it to my file.

Cheers for this.

My main fear was a bank or someone seeing the NoC and it immediately giving a bad impression of my credit file. I'm not looking to get a mortgage for another year or so, so by then my defaults are a good 3-4 years behind me.

But after hearing about banks immediately rejecting anyone who has used a payday loan, it made me paranoid the same attitude is taken to NoCs.