RBS Mortgage declined

debzebhinds

Hi, just following on from this, I recently applied for a mortgage in principle online which unfortuantely was rejected. I had no idea that you are not advised to do this as it could have negative effects on your mortgage application/ credit rating - is this true? If so, is there anything I can do about it? many thanks

kingstreet

debzebhinds wrote: »

Hi, just following on from this, I recently applied for a mortgage in principle online which unfortuantely was rejected. I had no idea that you are not advised to do this as it could have negative effects on your mortgage application/ credit rating - is this true? If so, is there anything I can do about it? many thanks

In most cases, a credit search will have been recorded and will be visible to other lenders who search your credit history for upto twelve months.

The record is now there. There is nothing you can do about it.

Speculative searches are never a good idea, particularly if you are borderline to begin with. Several in close proximity to each other can make lenders nervous that you are changing your application data each time to try to get accepted.

You would be better off speaking to a good whole market broker, first obtaining all three versions of your credit file, so you can see and point out to them, any issues you may have had.

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

marking_bad

I assume you're not just a few quid over the credit card limit and are in serious trouble? Sorry if that's personal, but then it kind of is a personal subject anyway.