Help! One hard credit search has dented me 46 points

StopIt

Bunsenbunsen wrote: »

When mortgage lenders conduct an assessment for eligibility/approval do they see or take into account a credit rating? If they do, then the drop in score does seem relevant?

It seems significant in that it has lowered it from a very high "Fair" to a "Poor" rating at a crucial time in my financial timeline (obviously, in hindsight a bad time to apply for credit but this seems a much larger impact than was expected).

Additionally, could anyone shed some light on to why 2 separate searches have been carried out for one application? Does this dent it further.


If the score/rating has no application in reality, what's the point of it?

If you pay £15 a month, Experian will tell you why it's important.


Hint: You have to continue paying £15 for them to tell you. They haven't told anyone yet because they might stop paying but they say they will one day.

Bunsenbunsen

Okay, thanks, that's helpful.

Can anyone explain why 2 searches have been carried out for one application?


I'm a bit concerned as I've been asked to provide some verification of ID to proceed with the credit application - I don't want another one or two hard searches to appear once I've done so.


Thanks

TheDebtinator

How do you know that both are hard searches?

StopIt

Bunsenbunsen wrote: »

Okay, thanks, that's helpful.

Can anyone explain why 2 searches have been carried out for one application?


I'm a bit concerned as I've been asked to provide some verification of ID to proceed with the credit application - I don't want another one or two hard searches to appear once I've done so.


Thanks

As above, make sure they're actually hard searches. Anything saying Identity Check or Administrative checks don't count as hard checks IIRC?

Bunsenbunsen

It shows up as 2 searches "search for credit application" (both the same date) on my credit report