Does a credit check affect your credit rating?

geek84

Good Morning Folks

I am thinking of buying a new property for which I will need a mortgage. For this, I am thinking of going to a mortgage broker to get me the best deal. However, I am thinking of going to more than one broker in order to do this, so that I can compare their services. So you think this is a good idea?

Also, each broker would want to do a credit check on me before acting on my behalf. So, would more than one credit check done affect my credit rating?

Thanks in advance for your responses.

GMS

Get your own credit searches and get them to a broker.

If you are using more than one be careful no Decision in Principle applications are being repeated.

Call a few and see what you think. What concerns do you have?

geek84

Hi

Thanks for your reply GMS.

I don't have any concerns except that I'm worried if more than one broker does a credit search on me then will my credit score be affected?

As you say, I think the best answer to this may be to get a credit report myself and hand it to the broker(s).

amnblog

Not quite sure what you mean by this?

' I am thinking of going to a mortgage broker to get me the best deal. However, I am thinking of going to more than one broker in order to do this, so that I can compare their services.'

Marshyman

Anytime anyone performs a credit search against your name it will be recorded as a 'footprint' on your credit file, it will as such affect it each time a search is made, however you shouldn't worry too much about getting more than one search just try and keep the number as low as possible.

Word of advice ask for a fee/charge list upfront as some brokers charge you a fee and some take their fee direct from the lender they arrange the mortgage with