car insurance affect mortgage

ena2013

Hi,


Not sure if this is the right place to ask but I have been issued a mortgage offer for a house which won't be complete until March 31st and I have just had to renew my car insurance (paid in instalments) Will this affect the mortgage offer in anyway? I don't know if I am being slightly paranoid but don't want to fall at the last hurdle. Thanks

Din85

I very much doubt it, car insurance company's use soft searches which will not show on your credit report.

Also, I have never seen my insurance company reporting my account status on my credit report.

You should be fine.

ACG

Did you disclose your existing payments to the lender? Have the new payments increased or decreased?

Din85

I was told car insurance did not count as it's just normal bills ?

That was a Natwest mortgage advisor btw ?

He said they only wanted to know about credit cards and loans ?

ACG

Its unlikely to make the slightest bit of difference, but lenders do request bank statements to look at general affordability.

So it could have an impact as unlikely as it may be.

ena2013

It has went up by 4 pounds per month so not much difference at all and we did disclose the original amount when we first applied . I know I am probably being paranoid but you see the words 'credit check' and you begin to worry. Thanks for all your help.

ACG

I think you will be fine.