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Mortgage provider made multiple searches and footprints on file.

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I got a new mortgage (moved house) last June.
Just noticed that nationwide (our provider) has made 4 hard searches of our file. We obviously only applied once and were approved there and then.
I know multiple searches close together are detrimental. Why would they do this? Is this damaging? g5zCpvN.jpg
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Comments

  • Four is perhaps more than normal, but most mortgage providers will run more than one search to ensure nothing has changed.

    It's nothing to worry about.
  • System
    System Posts: 178,339 Community Admin
    10,000 Posts Photogenic Name Dropper
    Whats the likelyhood of something changing between the 29th May and 1st June lol. :rotfl:
    Ahh well, as I am not looking for any lines of credit in the next few years it's of no real concern I guess. Just found it alarming.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • If another lender looked at this, what would he see? I'm of the understanding that they don't see the name of the provider, so this would look like a load of sequential credit applications - very bad. It's not even flagged as a mortgage application, where an assumption of a single application could then be made. So, does anyone know exactly what another lender sees on a credit report?
  • Nasqueron
    Nasqueron Posts: 10,630 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    There is no reason to be alarmed, they are just doing due diligence. The only thing that would be affected is your fictitious "score" but a search related to your mortgage isn't going to have any real impact on your credit - lenders will just look at your existing record and debt

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • Nasqueron wrote: »
    There is no reason to be alarmed, they are just doing due diligence. The only thing that would be affected is your fictitious "score" but a search related to your mortgage isn't going to have any real impact on your credit - lenders will just look at your existing record and debt


    Is this true? I understand that they can also see credit searches, and the list in the screenshot above would/might set alarm bells ringing.
  • Nasqueron
    Nasqueron Posts: 10,630 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Is this true? I understand that they can also see credit searches, and the list in the screenshot above would/might set alarm bells ringing.


    Why? Someone had a credit check done for a mortgage. The lender in the future will look at income, debt and judge whether that is affordable, not whether a bank did some searches last year

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • If another lender looked at this, what would he see? I'm of the understanding that they don't see the name of the provider, so this would look like a load of sequential credit applications - very bad. It's not even flagged as a mortgage application, where an assumption of a single application could then be made. So, does anyone know exactly what another lender sees on a credit report?

    Google is your friend here: http://bfy.tw/M3zw
  • System
    System Posts: 178,339 Community Admin
    10,000 Posts Photogenic Name Dropper
    Nasqueron wrote: »
    Why? Someone had a credit check done for a mortgage. The lender in the future will look at income, debt and judge whether that is affordable, not whether a bank did some searches last year
    But will people see it is a mortgage application?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • !!! wrote: »
    Google is your friend here: http://bfy.tw/M3zw


    Thanks, but couldn't get it to load for some reason (IE10). Just blank screen with garbled black writing in the centre. You got any more screenshots? I guess what we're looking for is someone who works for a lender to show us a screenshot.
  • beany_bot wrote: »
    But will people see it is a mortgage application?


    That is the point. Does anyone here actually know?
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