Mortgage - Moved in - No credit search?

jacko198

So we have just moved into a new house 2 weeks ago.

The mortgage was applied for back in March and is all signed off with the first payment coming out next week.

We have constantly been checking our credit files waiting for a search to pop up from the mortgage company, to then re evaluate our finances, in order to possibly order some furniture on finance

But they dont seem to have done a credit search on us at all. Is that normal? If so thats great, i just dont want to apply for anything if it is suddenly going to show up!

My credit score has recently gone from "Good" to "Excellent" though which isnt too bad!

glentoran99

What file have you been checking? Why does it matter if a search appears or not to "re-evaluate your finances"

Thrugelmir

Have you checked all the CRA's? Lenders also use the Trust Registry.

evansc1

Side point - if you really need to buy on finance, go the 0% interest credit card route instead of paying retail interest fees.

jacko198

glentoran99 wrote: »

What file have you been checking? Why does it matter if a search appears or not to "re-evaluate your finances"

Because at a guess my "Excellent" credit score wont be so "Excellent" after the bank has done a search and added another outgoing payment?

I have checked on equifax and experian.

Not sure what a CRA is, care to elaborate?

glentoran99

jacko198 wrote: »

Because at a guess my "Excellent" credit score wont be so "Excellent" after the bank has done a search and added another outgoing payment?

I have checked on equifax and experian.

Not sure what a CRA is, care to elaborate?

Credit reference agency, so you need to check call credit as well, you can do this for free on noddle.com


Your credit score is irrelevant. The CRA doesn't lend you money, whoever you are lending from will have their own criteria and they will know you are paying the mortgage as you will be asked when applying. What the CRA rates you as has no bearing on anything

ACG

There are 3 credit agencies:
Equifax (also clearscore)
Experian,
Call credit (also noddle)

Then there are companies like check my file which combine the 3.

Every lender will use one or more of those 3 agencies. So if for example you have used a lender who only checks Equifax but you are looking at your noddle report, it will not show.

Also, forget your "score". There is no score, each agency scores you differently as does each lender. The important bit is the credit information - ie the red/green/amber markers on the report.