are credit checks carried out by underwriter also?

rizla83

Hi,

We are currently waiting for our application to come back from santander and i am just wondering if there are additional credit checks carried out after the initial one that is passed for an agreement in principle?

The first one that was carried out it on my credit file as a hard search so i was not sure if this gets documented and passed to the underwriter or he does another one again himself?

We havn applied for any new credit or anything since the AIP so it doesnt really make a huge difference but i was just thinking if that was the case or not?

p.s our application went in on friday. looking at the santander intermedaries website they are passing Fridays to the underwriters pile today so it should be looked at either friday this week or monday next.

cant wait!

PheoUK

rizla83 wrote: »

Hi,

We are currently waiting for our application to come back from santander and i am just wondering if there are additional credit checks carried out after the initial one that is passed for an agreement in principle?

The first one that was carried out it on my credit file as a hard search so i was not sure if this gets documented and passed to the underwriter or he does another one again himself?

We havn applied for any new credit or anything since the AIP so it doesnt really make a huge difference but i was just thinking if that was the case or not?

p.s our application went in on friday. looking at the santander intermedaries website they are passing Fridays to the underwriters pile today so it should be looked at either friday this week or monday next.

cant wait!

I was trying to figure this out - as far as I could tell, when we did the application in bank with the mortgage advisor we were credit checked and past as part of the full application process. I wasn't then able to determine if the underwriter then goes around and does it again. I would hazard a guess they pass their eye over the results, but I'mhoping that an initial pass generally means good news.

I hate all this waiting!!

holly_hobby

An AIP is typically based on public domain data.

However, upon submission of your application a full credit reference agency (CRA) check will be conducted - which is a warts'n'all search !

A CRA search will reveal all active accounts (and those which were closed less than 6 yrs ago), plus credit limits and os balances plus payment profile data, together with any defaulted accounts, any linked addresses and persons, plus of course general public domain info, such as votors roll, CCJs, and any Bankruptcy orders.

Its important to note that further ad hoc status checks may be made right up to the day of completion (typically randomly selected unless something rears its head suggesting non-disclosure) - so don't miss any finance payments, or effect any further finance accounts between offer and completion.

Hope this helps

Holly