Money boat

kris80

Can anyone help? I am wanting to know if money boat use Experian when you get a loan from them. 

[Deleted User]

Yes, they do - they report to all 3 agencies and it will be flagged as a short term loan on your file. Good luck if you want a mortgage anytime soon.

kris80

I stupidly took this out and I’m waiting to complete on my mortgage. Do you know how long the take to flag them?

twhitehousescat

immidiatly or within a month 

Grumpy_chap

Information normally show to other lenders immediately.  Only on the report you see is activity only updated once a month.

MovingForwards

Your mortgage lender is the last of the adverse lenders who brokers use. They do not approve mortgages where recent PDLs have been taken out. Potentially your offer is now at risk of being withdrawn.

kris80

Thanks really stupid I know. I took it out a few days ago but it says I have 14 days to withdraw which I am going to do hope this makes a difference. 

MovingForwards

I'm not sure if that will make a difference as I think the search will still show.

kris80

MovingForwards said:

I'm not sure if that will make a difference as I think the search will still show.

No search is showing on my Experian as of yet.  I really do know how stupid! I’m just hoping they don’t do a last credit check.

MovingForwards

We don't see live updates, only financial companies do.

Grumpy_chap

How far away is your completion date?

Have you been approved for the loan?
Did you sign and send back the loan agreement?