2 credits checks for same mortgage

MrsO84

AnotherJoe wrote: »

Why? I don't understand the paranoia some people here have about debit checks. "It doesn't look great" to who exactly ? Who is it, other than you,that cares about these checks ?

You are just about to get a mortage, are you planning to rush out and get more loans? If not, why goes it matter ? I suggest you save some money by cancelling your subscription to whatever service you are using to check on your credit score every five minutes

Enjoy your new house !

Not a particularly helpful comment but.....i suppose i am a little naive about the whole credit check/score thing and was looking for more facts/information on the potential effects of the checks (which has been made abundantly clear is not much) rather than criticism for doing what i could to make sure i was in a strong position. Where i have read about applications for finance there is always a strong focus on credit scores and without detailed knowledge to the contrary I think it is understandable that i could be confused or concerned about this.

With regards to other loans, no i'm not planning to take out any. I put out a scenario to again get more information. Luckily i'll have savings after the house purchase to help should i need it.

Thanks for your money saving suggestion but i am happy that i paid for the service if only for a little extra reassurance in the run up to securing a mortgage!

kingstreet

Your alleged "score" will plummet when you move house.

It will do far more damage than a single search by a mortgage lender.

You should not be taken in by the marketing plans of credit reference agencies as they have little relevance in the real world.

Finally, if you are considering application(s) for unsecured credit, have you informed your mortgage lender so the costs can be factored into mortgage affordability?

AnotherJoe

MrsO84 wrote: »

Thanks for your money saving suggestion but i am happy that i paid for the service if only for a little extra reassurance in the run up to securing a mortgage!

I suggest you stop paying for it now then, it's done its job as a placebo to help you, what is it, a tenner a month? look back in ten years time, you could have a thousand pounds plus , or quite likely £1500 off your mortgage balance if you used it to pay that off, or maybe £2k extra in a pension.

bazzyb

2 searches on your credit record is going to make little, if any, difference to lenders if you apply for more credit in the next 6 months. However, recently taken on a mortgage and looking for additional borrowing within 6 months will have a big difference.

If you get declined for additional borrowing so soon after taking on a mortgage it won't be anything to do with 1 extra credit search.