Reliable Soft Search AIP’s

daz_79

Hi, I am currently researching mortgages in preparation for applying once my current property sells, we repay our current mortgage (NRAM) and look to buy a new build.
I have completed a number of soft search enquiries with varying results but have recently read on other threads that some AIP’s are more reliable than others when indicating whether a full application will produce the same results. I was swaying towards Halifax but after reading threads am doubting if their mortgage promise is worth anything. My Experian credit score is 840 but I do have historic arrears on an unsecured loan which was caught up and been ok for about a year (with a plausible back story behind it). Apart from that my credit file is normal and up to date. It is these arrears which are making me cautious hence my research before applying. I have been informed a lender like Precise would likely accept my application but at a higher rate. We will be looking to use the Help to Buy scheme and both myself and my Wife earn decent salaries (36k plus 6k bonus and 27k plus 2k bonus). Any guidance would be appreciated. Thanks in advance.

Edi81

With recent(ish) arrears you should use a broker. Especially as you want to use help to buy.

They will want to see your credit file not the made up score and will know which lenders use which agency. Your arrears may not be on one of your credit reports.

YHM

As above, you need to really be using a broker. Especially with your credit report being so delicate. You don't want to be doing wasteful DiPs etc which could make things worse for you in the long run

daz_79

I have access to pretty much every free credit report facility going and so know that the arrears shows on Equifax, Experian and Call Credit unfortunately. I have no problem using a Broker but was curious as to whether a soft search would have identified these arrears as well as who does the best, for want of a better term, soft search AIP.

daz_79

Just a quick update. We used the services of a Broker (who was great) and she has been able to get us a mortgage with Nationwide and at a very pleasing rate. I am very happy and grateful for what she has been able to do for us and help us fulfill our goal of moving House.