Quick question, quick answer please :)

FTBbelle

When you submit your full mortgage application, does the bank/mortgage provider see a completely up to date credit file/report or the same one that we can see when we log into Experian etc (that can be up to 30 days old)?

AnotherJoe

There is no such thing as a "completely up to date credit report". Everything, by definition is historic and whats in any reports they may obtain depend upon what was submitted by a financial organization to who and when, and also when the Mortgage Provider (MP) asks.

If the MP asks your bank "does FTBbelle have any defaults?" and you defaulted on the same day or even week as the request, its unlikely to have made its way within the bank to enable them to say "yes". Likewise if they ask your bank "does FTBbelle have any loans with you" and you only paid it off that day or even that week, quite possibly their internal systems might not have caught up. And that would depend on the bank and its internal systems.
I would also say that i'd be surprised if Experian etc were always as up to date as 30 days.


All you can say is it will likely be different and dont expect it to reflect any recent changes, for values of "recent" = "undetermined".

FTBbelle

Thanks AnotherJoe! That’s cleared up a few things, just wanted a better understanding of what picture they would get compared to what I can see. for instance, in my case, I went slightly into my OD last month but it’s been paid off/up to date for most of April but still showing as a minus figure on my Experian report so just wondered if the lender would have more recent info. Thanks again for your reply