Credit check on completion

GingerBob_3

So the gist of this seems to be that if you spend a couple of hundred on a credit card and/or take out a broadband contract between application and completion it's possible some providers will withdraw the offer.

If this is true it's incredible, and only goes to highlight the whole credit referencing business as being not fit for purpose.

chanz4

Halifax checked us 3 days before completion

ML420cdi

Really what financial institution is going to see someone has made an application for broadband/BT/ISP etc and say "we are going to withdraw the entire mortgage offer"?...these people want to make a profit for their business and they don't want to throw your business away.

If a final credit check is done and they see you have taken out an unsecured £25K loan they are going to want to know what's going on but basic utilities and furniture?.....

Its also OK to ring the institution direct and ask for some honest advice.

Idiophreak

ML420cdi wrote: »

Really what financial institution is going to see someone has made an application for broadband/BT/ISP etc and say "we are going to withdraw the entire mortgage offer"?...these people want to make a profit for their business and they don't want to throw your business away.

If a final credit check is done and they see you have taken out an unsecured £25K loan they are going to want to know what's going on but basic utilities and furniture?.....

Its also OK to ring the institution direct and ask for some honest advice.

Meh, you read so many horror stories on here, I'm not keen to take chances. If doing nothing's safest, that's what I'm rolling with.

kingstreet

The lender can't see what you applied for, all it can see is a new credit search and it can result in the applicant's profile changing with that lender.

That's why you are told no more than one AIP, no multiple searches etc. Its not what you are applying for, it is the simple fact of an additional search which wasn't there yesterday.

Withdrawal of an offer doesn't happen often, but why, when you've micro-managed every aspect of your house purchase would you do anything which MIGHT, not will, but might have a negative impact?

If you think it's over-reaction, you're probably right. If someone wants to open a discussion thread on issues like this, great.