What is included in a soft search

april87

What exactly is included in a soft search? For example, we are looking at mortgages and currently with TSB, and they offer a mortgage promise, but I want to know what exactly do they pick up from that? Only reason I'm asking is we are in the middle of a balance transfer from my OH name to my own name. He will be the only one applying for the mortgage, and we wanted to know whether they pick up balances of cards etc.

Thanks

ashp_2

It can take 4-6 weeks for balances to update on your credit file. It's best to wait untill what your putting on your application is truly reflected in your credif file.

YorkshireBoy

Of course credit card balances (along with loans, mortgages, current accounts) are seen! How else could they determine your financial circumstances and therefore assess affordability?

A soft search in this case will see everything a head search will see, except it will leave no footprint visible to other lenders when they search your file.

The reason they do a soft search is because a hard search would be unfair to customers shopping around for the best deal.

Have you read the information on their website?...

http://www.tsb.co.uk/mortgages/promise-application/

april87

Yorkshire boy we did read the information in the link you provided. I just wanted to be clear on what a soft search entailed that is all. It may seem like a stupid question to some people on here, but I asked it more for clarification than anything. Thanks anyways.

Thabks ashp.

PaulW922

A potential lender undertaking a soft search sees the same data as a lender undertaking a full search. They can see your credit accounts, the type of account (i.e. card, bank account, loan, catalogue), the balance outstanding each month and your repayment history. They cannot see who the lender for each account actually is. Full credit searches are also visible to them, but not soft searches, including anti money laundering/ID checks.