Credit Score impact

sg151

Hi,

If I applied for buy to let re-mortgage for a 60% LTV product, and property survey results in a lower valuation, hence not able to qualify for this product. Does this result in a a rejection and impact on my credit rating/score? Please reply. Many thanks in advance for your response.

Kind regards,

[Deleted User]

It will result in a search on your file (assuming that is done before valuation). The decision isn't shown.

You have no credit score or rating that is visible to anyone. Just a file (or three, to be precise).

DCFC79

sg151 wrote: »

Hi,

If I applied for buy to let re-mortgage for a 60% LTV product, and property survey results in a lower valuation, hence not able to qualify for this product. Does this result in a a rejection and impact on my credit rating/score? Please reply. Many thanks in advance for your response.

Kind regards,

Luckily credit scores are only seen by you and rejections arent listed on your file just that a search has been carried out so no impact, well there will be an impact but as I say only you see it. Theres no definitive way to say how much your score will be affected.

In any case there are 3 agencies who rate you differently, get your reports from all 3.

sg151

Thank you both for the reply.