‘Soft searches’. Do they really not affect credit checks?

CG77

I’m looking for a mortgage and often banks/brokers will say ‘we will do a soft search. This will not leave a footprint on your credit file and will not affect your credit rating’.

Is this true? I’m always too scared to go ahead at this point but will it really not affect a future application if I do a few of these to find the best deal?

Thank you!

amnblog

A 'soft search' is only visible on the file to the searching group of companies.

That does not mean you should 'do a few of these to find the best deal'.

The best deal for you is the most appropriate product based on lenders that will lend given your circumstances. That is not just about credit score.

Multiple searches of any kind are not smart.

From your previous posts perhaps you still cannot find a Broker you feel comfortable with and are now considering sorting this out yourself.

If my local mechanic let me down, I would find another, not go to Halfords and buy a tool kit assuming I could do better.

ACG

I dont see the point in soft searches personally. They are not worth the paper they are printed on. In my mind a brokers job is to look at bank statements, credit reports and the factfind to determine if you will fit criteria and likely to pass the credit check rather than a soft footprint that a lender can easily disregarded.

The lender will do a full credit check at application stage anyway, so if the soft footprint missed anything, then you have potentially built up your hopes for nothing.

But I think there are 2 kinds of brokers, those who believe in soft footprint credit checks to do the initial checks and those who dont.

Nevermind309

I was a bit surprised all of the compare the market/go compare car insurance searches i did were on mine when i got an experian one through the post..