Multiple hard credit checks

Gaz012012

Hi, Having a nightmare at the moment trying to buy a house.

5 months ago applied and accepted. Venfor pulled out 3 days before exchnage. Credit check 1 for mortgage.

3 weeks ago found new property. As offer expired from earlier new hard credit check. No 2.

Valuation came back 15% lower than what we offerred. Broker suggests trying elsewhere. I know it could be same surveyor but at least there is more bargaining strenth. This would be credit check 3.

If this doesnt work out will find another house and likely credit check 4.

I understand impacts overall of hard credit checks - however as for mortgage do same rules apply? Ie could it cause us an issue? If so i may not bother getting another's Valuation for current house

[Deleted User]

A couple of recent credit checks isn't an issue.

K_S

Gaz012012 said:

Hi, Having a nightmare at the moment trying to buy a house.

5 months ago applied and accepted. Venfor pulled out 3 days before exchnage. Credit check 1 for mortgage.

3 weeks ago found new property. As offer expired from earlier new hard credit check. No 2.

Valuation came back 15% lower than what we offerred. Broker suggests trying elsewhere. I know it could be same surveyor but at least there is more bargaining strenth. This would be credit check 3.

If this doesnt work out will find another house and likely credit check 4.

I understand impacts overall of hard credit checks - however as for mortgage do same rules apply? Ie could it cause us an issue? If so i may not bother getting another's Valuation for current house

@gaz012012 On their own, 1-2 recent hard checks shouldn't make a huge difference. The scenarios in which it can make sometimes make a difference is at very high LTV or adverse cases where you're already borderline on the lender credit scoring and one new hard check tips it's over from an accept to a decline.

I'm sure your broker has kept it in mind, but if you do try with a new lender, he/she should ideally be using a lender that uses a different surveyor panel to minimise the chances of getting the same valuer.