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How reliable are AIP's??
chester81
Posts: 66 Forumite
Last night, purely out of interest, I punched our figures into an AIP form just to see what happened. Apparently it is only a soft search so leaves no trail on credit file??
We were accepted although it was for slightly less that we would like.
How common is it for an AIP to be accepted and then for the actual mortgage to be declined at a later stage of the application process? I was quite surprised that we were accepted as we currently have 40K unsecured debts.
We were accepted although it was for slightly less that we would like.
How common is it for an AIP to be accepted and then for the actual mortgage to be declined at a later stage of the application process? I was quite surprised that we were accepted as we currently have 40K unsecured debts.
0
Comments
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A soft search is as robust as the name suggests - credit score can change at full application stage where Lenders typically bring more information into the mix.
Do not assume anything.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Last night, purely out of interest, I punched our figures into an AIP form just to see what happened. Apparently it is only a soft search so leaves no trail on credit file??
We were accepted although it was for slightly less that we would like.
How common is it for an AIP to be accepted and then for the actual mortgage to be declined at a later stage of the application process? I was quite surprised that we were accepted as we currently have 40K unsecured debts.
Depends on the lender. My AIP with Nationwide was a hard search.0
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