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Mortgage Application

adrian1979
adrian1979 Posts: 18 Forumite
in Credit file & ratings
Hi,

I'm about to apply for a mortgage but I've got 5 credit searches under my credit file in the last 6 months - is this okay or to much?

Everything else is good.

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What were the searches for? Credit applications, eg credit cards, loans, current accounts...or insurance quotations/ID searches for savings accounts etc?
  • adrian1979
    adrian1979 Posts: 18 Forumite
    One was for a personal loan.

    One was for a credit card

    Three were for a mortgage application (these were 4 months ago), I was close to buying a house then and all three were approved (DIP) - I just (stupidly) applied with three companies without realizing the consequences (although credit score is still good).
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Re the card and loan, that's pretty bad in the lead up to a mortgage application. When they add in your short 'time at address' and short 'time in job' - and the fact you've been out of the country for 3 years - it could be even worse.

    Best of luck with it.
  • David_White
    David_White Posts: 892 Forumite
    Fourth Anniversary 500 Posts Combo Breaker
    Was it a payday loan?

    Also, why are you applying for loans and credit cards... surely you have savings if you're going to apply for a mortgage as you'll need a deposit?
    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.
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