Skipton DIP - is it generally reliable?

Wilmot

Okay, thanks for your reply.


If they were, though, dissatisfied with the insufficient information, what would they realistically do - nothing/just process what they have? And would they need to tell me if they were to consult Experian etc.

ACG

If there is not enough information it could affect the scoring of your credit check and in turn the outcome.

I doubt they would HAVE to tell you they are doing extra checks as I suspect the declaration form is worded in a way that allows them to without asking. I have known them to do extra checks but that is when they are struggling with address histories, im not sure if they would do it for a lack fo credit though.

Wilmot

Ah, right I see.


I have a credit score on CC and Noddle of 4/5, but that is based on two accounts and Electoral Roll residency. There's no utility account history which I just would have imagined they'd want. But then, if the lenders don't share their info with them isn't that, well, their problem and not mine?

ACG

Yes.
Call credit and noddle are the same, seems pointless paying for one if your using the free one anyway. The score on EVERY credit agency is worthless, you need to go off the information on the reports, if its all green then your in the good books if it has a lot of amber and red then your probably not and it becomes more complicated.

emzky

It all depends we got a DIP with skipton on our first time buy and then they tried to reject us for using our overdraft short term. Luckily our broker got it overturned and we now have a mortgage with them.

Standingirish

emzky wrote: »

It all depends we got a DIP with skipton on our first time buy and then they tried to reject us for using our overdraft short term. Luckily our broker got it overturned and we now have a mortgage with them.

Hi I am quite interested in your case as we have just got an Agreement in Principle with Skipton. It had to be referred at the beginning stage because of my use of payday loans in the past, my advisor contacted them and checked what there view would be on this before applying and they were quite positive. The DIP was referred because they advised adding that to the comments section and they came back about 4 hours later and gave us an agreement in principle. We have done the full application and I am panicking now as years ago we were told by a Nationwide advisor it was great to be using your overdraft each month and paying it off. After reading on the forum I put the question to our advisor and he has said this is not the case and the Skipton don't like it, he said it doesn't mean it'll be a flat out no and that they might just ask for it to be paid off and to prove where the money is coming from to do that. We are in a position to pay it off if needed its just existed as a left over from being a student and is only £400, had I know it was bad I would have paid it off years ago. Our joint income is 40k. No defaults or CCJ' just Payday loans all paid off and none for over two years.


Is it likely to go belly up and be a big NO! Without a chance to rectify it? I just think with the referral already it doesn't look good?