Mortgage

aiser786

Hello everyone
I've recently made a mortgage application and I went in for a agreement in principle I was told at the meeting I can borrow up to 86k so I proceeded to looking for properties that I can afford I found a property and made a full mortgage application and was rejected which I think can happen what absolutely baffles me is when I check my credit report it shows the date of when I went in for my agreement in principle and it shows a negative hard check I was told at that meeting I can borrow 86k......
What I would like to know is this normal protocol the bank telling me I can borrow then putting a negative result on my credit report and why is the date not showing for when I was actually refused please please can someone provide some clarity for me I would be very very greatful.....
Thank you for reading my thread

amnblog

Where did you get this term from

'negative result on my credit report'?

You cannot have a negative result on your credit report. The result may show a search undertaken by a prospective Lender, but that is shown neither negative nor positive on the report.

A Lender saying you can borrow up to £86K in a meeting, is not the same as them making a decision on advancing those funds based on your credit profile. That involves a search of your record which it appears was not up to the Lenders requirement.

To avoid further frustration and unnecessary credit searches, engage a mortgage broker.

kingstreet

There is nowhere for declines to show, nor should there be, IMHO.

A hard search as done for the AIP so another wasn't needed. Are you assuming you were declined for credit conduct reasons, as there may be others...?

Have you been given a reason?

williom

Firstly, I don!!!8217;t think, it can create any negative impact by just issuing you Agrement in principle, because your credit rating all depend on scoring, secondly if it has negative impact, you can ask that bank in writing to remove the credit check record from your account in writing , and they!!!8217;ll do it for you, as I done the dip with bank 3 times and it left footprints so I requested them to remove before I proceed to final credit checks etc.