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Application for credit, but not signed on the dotted line. How will this impact?
lmlotty
Posts: 5 Forumite
Hi,
I posted on the mortgage forum, but I'm after some credit file advice I think. I stupidly applied for a loan to re-do the bathroom and kitchen on the new house I'm (hopefully) buying next week. We exchanged contracts last week and due to complete next week.
I was approved for the loan, so I'm assuming a full application footprint will be left on my credit file? But, as I haven't signed anything and the loan hasn't been set up, no new credit accounts will show on my credit file until I do this?
I'm wondering that if the lender does another check on my file before completion they will see this new search, which would have reduced my credit score, they will withdraw their offer!
Any advice would be most welcome please. I could kick myself for being so stupid to apply for credit before I have the keys in my hands!!
I posted on the mortgage forum, but I'm after some credit file advice I think. I stupidly applied for a loan to re-do the bathroom and kitchen on the new house I'm (hopefully) buying next week. We exchanged contracts last week and due to complete next week.
I was approved for the loan, so I'm assuming a full application footprint will be left on my credit file? But, as I haven't signed anything and the loan hasn't been set up, no new credit accounts will show on my credit file until I do this?
I'm wondering that if the lender does another check on my file before completion they will see this new search, which would have reduced my credit score, they will withdraw their offer!
Any advice would be most welcome please. I could kick myself for being so stupid to apply for credit before I have the keys in my hands!!
0
Comments
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Don't take the loan. Nothing more you can do than that.
At the moment, it's just a search. Not ideal, but hopefully no the end of the world.0 -
Do you know if searches come up instantly?0
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Pretty much, yes.0
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