Nationwide, Mortgages, Credit file - anyone know?

123Debtfree

Hi Everyone,
I'm an existing Nationwide customer, and after years of ploughing through reducing my debt i think i'm nearly there!!
The next piece is replacing my big horrid second charge, into a total Mortgage, with my first charge. My first charge is with the Nationwide, but Interest Only, so i want to lump them all together and get it all on repayment at a sensible rate.
My LTV is 65% and i haven't been behind at all in anything. I do however have quite a high utilisation of my CC borrowing, which (when my heinous second charge) payments are reduced, i will knock off each month.
My question is - does anyone know how the Nationwide credit search? I have a perfect score with Experian, Equinox is 'Average' (due to the CC utilisation)..

I don't want to apply for something to be turned down and damage my credit score internally..

What does anyone think is best? I could lump my CC's on the mortgage as well, and that would take it to 74% LTV?

Any advice appreciated.

Thanks

bengalknights

You could do there soft check which doesnt leave a print

123Debtfree

Thanks for your help - what is a soft check? sorry!

National_Debtline

Hi

I think bengalknight is referring to a type of credit search a potential lender can carry out on your credit file without it being classed as a full search. Soft searches wouldn't affect your ability to take out credit, but it would help you get an idea whether Nationwide might give you a new mortgage.

You can approach Nationwide and ask them to evaluate your situation with a soft search initially, rather than you having to make a full application.

James
@natdebntline

Angry_Bear

123Debtfree wrote: »

I have a perfect score with Experian, Equinox is 'Average' (due to the CC utilisation).

The credit "score" doesn't actually mean anything and wouldn't be seen by Nationwide. Nationwide will get a copy of your report and will use that to come up with their own score based on their own internal rule. The scores provided by Experian and Equifax are just *their* interpretation of how healthy your report is, any potential lender you look at will have their own rules.

As long as the actual details in all your credit reports are the same and correct, it won't make a difference which agency Nationwide uses.

Fletchasketch

Hi there,

Sorry to piggy-back off this old thread, but am looking to get a Nationwide mortgage myself and was wondering how you got on with the soft search? Did they do it?

In addition, I understand that Nationwide use Experian for their creidt scoring (for which my score is excellent) so I was interested to know if anyone could confirm this. For some reason my score on Noddle is Poor to Very Poor and can't see any reason for this, other than a slight discrepancy with my electoral roll address (which I have asked them to amend).

Would be great to know how you got on.

Thanks.

[Deleted User]

If it's only the score that is different but the information is the same, then there's no issue.

Fletchasketch

Well, other than the address, yes it's the same.

The potential issue is that if I need to apply for the remortgage before the address is corrected, then this could mean a decline if Nationwide use noddle rather than Experian.

I suppose I'm just wondering if there's anyone out there who can confirm that Nationwide use Experian as the basis for their credit scoring. MSE says yes, but would be good to know for sure.

Thanks.

Becsie

Nationwide definitely use Experian. I had a mortgage appointment with them last week and they confirmed they would be using Experian.

Fletchasketch

Becsie wrote: »

Nationwide definitely use Experian. I had a mortgage appointment with them last week and they confirmed they would be using Experian.

Brilliant, thanks for letting me know- appreciate it.