Hard & Soft Enquiries

alexgunning1994

Hi There,

So I had a score of 999 on Experian last time I checked (I know from reading the forums I'll be advised this does not matter, which I agree).

Anyway, my score has dropped 150 points over a 1 month period and I'm assuming it must be given the recent finance of my new vehicle. Because I worked with 2/3 different brokers that use different lenders, I'm assuming they've ran 3/4 "hard" checks on my file.

Now my question is, as I have googled this and not found an answer. How do I distinguish what is a "hard" and what is a "soft" check when looking at my search history. Under "purpose" on my report, checks tend to show as "ID check", "Administrative Review", "Quotation Search", "General Insurance", "business search" etc. How do I determine which of these is hard or soft.

I know theres a lot of people that panic and stress about small things here, but for some strange reason I've only been approved for 85% LTV on my mortgage which is really frustrating and has put me in a sticky situation, so any guidance is appreciated.

Alex

CakeCrusader

A 'Quotation Search' on mine are usually companies that I wouldn't have applied to, so these are likely to be soft searches. I've just had a new card, and they've done a 'Audit Search', and an 'Administrative Review', so these are hard searches (if this helps). I'd have a look at who's done the searches to see if you're using any of them for credit at the moment. https://www.checkmyfile.com/articles/2781/credit-reports/explaining-credit-searches-and-enquiries.htm

CakeCrusader

Hi, Alex, by the way. Welcome!



Please do remember to check your file with the other two agencies, sometimes they miss things.

[Deleted User]

When you look at your report, the searches are split into 2 sections - one for hard searches and one for soft searches

CakeCrusader

!!! wrote: »

When you look at your report, the searches are split into 2 sections - one for hard searches and one for soft searches

Not all of them do this, Noodle doesn't, they are split into 'searches' and 'your searches'. 'Searches' also includes soft searches because you've logged onto their web site and they think it's OK for credit companies you wouldn't usually apply to to soft search you.

RG2015

CakeCrusader wrote: »

Not all of them do this, Noodle doesn't, they are split into 'searches' and 'your searches'. 'Searches' also includes soft searches because you've logged onto their web site and they think it's OK for credit companies you wouldn't usually apply to to soft search you.

If it helps, totallymoney.com is free and uses the same data as Noddle and also separates all searches into hard and soft.

ironmanjason

I am a bit confused as to when the search appears as well.. I am in the process of applying for a mortgage and my application went in with a DIP last monday (2nd Nov).. I have a subscription with Experian, a free trial with Equifax and noddle accounts. I can see the search has only come up in the noddle refresh which took place last friday. neither experian nor equifax have it there.. why is this the case? Noddle clearly states it was a joint application for mortgage etc.

what is the point in paying for experian if the information is not updated regularly?

[Deleted User]

They can only report the data that is provided to them . If a search is taking place via TransUnion/Noddle, Experian won't report it.

ironmanjason

My first application went in on 19th Oct but the seller pulled out on 24th and this came up on experian on the 28th.. so they do report but its not right away.. also I have heard/read in other bits of the forum when applications for mortgage was done with the same bank it came up on their reports the same day..so was wondering if i had to do something else within the experian account to get this updated..

Ed-1

ironmanjason wrote: »

My first application went in on 19th Oct but the seller pulled out on 24th and this came up on experian on the 28th.. so they do report but its not right away.. also I have heard/read in other bits of the forum when applications for mortgage was done with the same bank it came up on their reports the same day..so was wondering if i had to do something else within the experian account to get this updated..

Who were the mortgage applications with?

ironmanjason

It is with Nationwide during both instances.