Mortgage providers that only use Experian.

tommyedinburgh

Can anyone advise which mortgage lenders exclusively use Experian to assess applicants? 

onthemend88

Is it because there is something on your equifax/transunion credit reports you dont want mortgage lenders to see? 

[Deleted User]

There are a couple but they usually also have a question asking you to declare any missed payments or defaults /ccjs etc. 
If you say no to the declaration but they catch it on the credit check you might get slapped with a cifas record

tommyedinburgh

onthemend88 said:

Is it because there is something on your equifax/transunion credit reports you dont want mortgage lenders to see? 

I've been assisting a colleague in tidying up her file(s) following a troubled relationship. She wants to apply for a mortgage and has a new copy of her Flawless Experian from today. She's running out of energy and will to engage with non Experian data which is understandable. 

Can anyone advise re the original question?

onthemend88

I am not judging as myself and DH are going through a mortgage application at the moment with historical bad credit history. If your friend is worried about anything on their credit reports, they would be better going to see a broker who will have access to a wide range of mortgage providers including companies who deal with adverse credit. At least then, it is an honest application and nothing can come back to bite them. 

tommyedinburgh

onthemend88 said:

I am not judging as myself and DH are going through a mortgage application at the moment with historical bad credit history. If your friend is worried about anything on their credit reports, they would be better going to see a broker who will have access to a wide range of mortgage providers including companies who deal with adverse credit. At least then, it is an honest application and nothing can come back to bite them. 

Yeah, probably for the best. I think she's going to take a step back and gather her thoughts.  

[Deleted User]

Some companies will only use 1, some will use 2, some will use all 3.

The issue is, it's at lender discretion which agency/agencies they search. I've actually had somebody complain before because I searched a different agency and adverse came back! If the lender isn't confident they have a complete trace (or something spooks them, e.g. bank statement conduct) they could well re-run the search at a later date across all files.

I do understand your/their point - but as @onthemend88 says, it'll probably be a lot less stressful if you can apply somewhere that understands and accepts the contents of the other reports - rather than hoping that a lender you read only search Experian do just that... and don't go and search Equifax etc later on!

tommyedinburgh

Somerset_La_La_La said:

Some companies will only use 1, some will use 2, some will use all 3.

The issue is, it's at lender discretion which agency/agencies they search. I've actually had somebody complain before because I searched a different agency and adverse came back! If the lender isn't confident they have a complete trace (or something spooks them, e.g. bank statement conduct) they could well re-run the search at a later date across all files.

I do understand your/their point - but as @onthemend88 says, it'll probably be a lot less stressful if you can apply somewhere that understands and accepts the contents of the other reports - rather than hoping that a lender you read only search Experian do just that... and don't go and search Equifax etc later on!

Really appreciate this input.