Final credit check before completion!?

Dene

My daughter has just had a mortgage refused by RBS at the second credit check despite not taking out any credit and no other adverse credit issues since the original check, the only difference is the credit rating has dropped due to the original check being carried out which they were happy with!

Soworried2016

Hello,

I!!!8217;m hoping someone can offer some reassurance.

We!!!8217;ve had a mortgage offer from santander since May 2018, which has had three amendments due to administrative oversights by my solicitor. My guess was that the issue went to the underwriters at each point, but my credit report is not showing any searches by santander. Because of this I am worried that the credit check will be done at the time of completion, which is set for 8th Aug (we exchanged on 1st Aug).

The reason I am so worried is because in my haste to set up home insurance to comply with the stipulation in the offer, I mis-read what was covered in the policy and after taking the policy out via monthly instalments, I noticed that two of the requirements stipulated in the offer are not covered by the policy. I am going to cancel the policy and have found another which fully complies, but I!!!8217;m now worried that these two searches are going to show on my credit file and scupper my chances of completing on the mortgage.

I do hope that the bank would not react in this way, but having read other forums about the last minute withdrawal of offers, I just cannot reassure myself. Does anyone have any advice/experience/reassurance with this?

I am so sorry to jump on someone else!!!8217;s post, but I am so anxious. This purchase has almost fallen through three times and because we have exchanged I!!!8217;ve ended my current tenancy so anything that might cause this to fall through is filling me with absolute dread as we!!!8217;ll be homeless with a small child.

Thank you

emmawoodhead

Soworried2016 wrote: »

Hello,

I!!!8217;m hoping someone can offer some reassurance.

We!!!8217;ve had a mortgage offer from santander since May 2018, which has had three amendments due to administrative oversights by my solicitor. My guess was that the issue went to the underwriters at each point, but my credit report is not showing any searches by santander. Because of this I am worried that the credit check will be done at the time of completion, which is set for 8th Aug (we exchanged on 1st Aug).

The reason I am so worried is because in my haste to set up home insurance to comply with the stipulation in the offer, I mis-read what was covered in the policy and after taking the policy out via monthly instalments, I noticed that two of the requirements stipulated in the offer are not covered by the policy. I am going to cancel the policy and have found another which fully complies, but I!!!8217;m now worried that these two searches are going to show on my credit file and scupper my chances of completing on the mortgage.

I do hope that the bank would not react in this way, but having read other forums about the last minute withdrawal of offers, I just cannot reassure myself. Does anyone have any advice/experience/reassurance with this?

I am so sorry to jump on someone else!!!8217;s post, but I am so anxious. This purchase has almost fallen through three times and because we have exchanged I!!!8217;ve ended my current tenancy so anything that might cause this to fall through is filling me with absolute dread as we!!!8217;ll be homeless with a small child.

Thank you

What happened with your credit check? We're due to exchange and complete this month and I stupidly applied for another credit card last week as I did not know this final check needed to happen. I have only got a £200 credit limit as that's all they'd allow me and I don't plan on using it now because of the small limit and upcoming credit check. Will it affect me??

Thank you.

mwhite110

Does anyone know if HSBC do checks prior to completing. MY mortgage has been agreed but my joint account went £53.54 overdrawn for a few hours a couple of weeks ago.

[Deleted User]

If it's authorised they won't care for that amount.

In any event, "a few hours" is extremely unlikely to be reported anywhere.

Unless you bank with HSBC, 99% chance they wouldn't have a clue about your £53.54 overdraft - even if they credit check you again.

You'd have to have gone overdrawn on the day the monthly snapshot occurred and they reported it. Incredibly unlucky if so! No idea what day the snapshot day is for HSBC, but I wouldn't worry