Santander AIP

sean9461

Thrugelmir wrote: »

You've made an enquiry nothing more. Lenders access a raft of historic activity data as part of the full process.

so basically the AIP doesnt mean anything then? As i say i only have 7 months of historic data for them to really go through.

Thrugelmir

sean9461 wrote: »

so basically the AIP doesnt mean anything then? As i say i only have 7 months of historic data for them to really go through.

There's more to an application than just a pure credit check.

sean9461

Thrugelmir wrote: »

There's more to an application than just a pure credit check.

Yeah i agree, but initially banks do a credit score search as basically a short list.

If i am right in thinking they have already seen my credit report, give me an aip based on it, then see it again and decide to decline i just see that as extremely unfair and rediculous. Just wish the banks gave clarification on what the AIP actually means as if they decline for credit score reasons when they already saw it in the first place they are going to ruin my credit score even more by doing the full app.

amnblog

Making a decision on residential mortgage lending is not straight forward and requires multiple checks and evidence.

We have:

People paid in numerous ways on numerous types of contracts
Dozens of different type of outgoings showing on different paperwork
People regularly swopping jobs
Deposits coming from all directions which need to be tracked
Property values move quickly in some areas, drifting in others
Properties altered and extended by persons of varying competence
People applying for numerous types of credit for everything

All of this needs to be assessed, checked, and considered - meanwhile the regulator is checking everything the Lender does - ready to give out enormous fines.

The regulator is also checking the bigger picture with each Lender. What lending do they have out already, which is 'high risk', are they within their limits for more?

Obtaining mortgages is complex.

sean9461

I agree there are loads of other variables however I'd just be very annoyed if they do a credit search for an agreement in principal but then decline me instantly on full app due to 'credit score' when they have already seen my credit file and could of declined me at AIP stage.

If they instantly decline due to credit score it makes the AIP Useless and a waste of time.

The other variables can come at me whenever they need to, I'm just hoping I pass the full application credit check. As if they just do some random computer generation of a score based on age of accounts etc then I'm probably screwed if they didn't bother to do the same scoring at AIP stage

hw1409

sean9461 wrote: »

I agree there are loads of other variables however I'd just be very annoyed if they do a credit search for an agreement in principal but then decline me instantly on full app due to 'credit score' when they have already seen my credit file and could of declined me at AIP stage.

If they instantly decline due to credit score it makes the AIP Useless and a waste of time.

The other variables can come at me whenever they need to, I'm just hoping I pass the full application credit check. As if they just do some random computer generation of a score based on age of accounts etc then I'm probably screwed if they didn't bother to do the same scoring at AIP stage

I may be way off the mark here but I think the issue with DIP/AIP is that some lenders will do a hard credit check at this stage and others a soft so not as much detail. So some are probably more reliable than others but, they are all ultimately only a decision in principle and lots of other factors will need to be considered on full application.

Dave_Ham

There are a variety of factors in play here.

You are worrying so much about the credit file, that it would worry me when on the face of it there is nothing negative on it other than limited credit history (and a truck load of AIP's you and the broker keep doing for some reason)

Prior to the 7 months, surely you had a bank account, mobile phone, possibly utility bills which should all be on your credit profile.

Either your broker is incompetent or the information provided to them/on here differs wildly.

Best of luck

sean9461

Prior to 7 months ago I had a bank account but when checking aparinately Halifax easy cash accounts don't report to cra so I closed t and opened a new one 7 months ago. I've never voted before either so that only appeared on my report 7 months ago.

My credit file could not be found by experian when I first started trying to look for it 9 months ago because I had no accounts that shared to them.

Also my contract phone wasn't in my name so I never had one of those either. I managed to transfer it into my name 3 months ago.

sean9461

Dave_Ham wrote: »

There are a variety of factors in play here.

You are worrying so much about the credit file, that it would worry me when on the face of it there is nothing negative on it other than limited credit history (and a truck load of AIP's you and the broker keep doing for some reason)

Prior to the 7 months, surely you had a bank account, mobile phone, possibly utility bills which should all be on your credit profile.

Either your broker is incompetent or the information provided to them/on here differs wildly.

Best of luck

Also none of my utility bills appear on my credit report. I have had utilities for a good few years and none are on here. I checked they don't report to cra unless u default

Dave_Ham

sean9461 wrote: »

Also none of my utility bills appear on my credit report. I have had utilities for a good few years and none are on here. I checked they don't report to cra unless u default

That is incorrect.

Why did Halifax only provide you with an EasyCash account?

Assuming you have not long been 18+, or have not always resided here since 18?