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Soft search and hard search mortgage
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Robbobss
Posts: 22 Forumite
Hello
ive just got a few questions about the difference between soft search and hard search for mortgages.
ive just got a few questions about the difference between soft search and hard search for mortgages.
I have an excellent affordability and excellent credit score with no debt.
I’m looking for a 95% ltv mortgage
I have got about 4-6 payday loans paid off all taken out at times when I’ve been made redundant etc all over 4 years ago.
I have applied with Lloyds and NatWest for a n AIP and they both passed me for what I asked for at 95% ltv which is about half of what they said I could afford in total.
NatWest interest was a lot more than llyods and I also bank with llyods so that seems the best option.
I have got about 4-6 payday loans paid off all taken out at times when I’ve been made redundant etc all over 4 years ago.
I have applied with Lloyds and NatWest for a n AIP and they both passed me for what I asked for at 95% ltv which is about half of what they said I could afford in total.
NatWest interest was a lot more than llyods and I also bank with llyods so that seems the best option.
So what I’m wanting to know is what a soft search AIP actually shows the bank…? I only seem to be getting vague answers surely somebody knows exactly what it shows then and if they can see the payday loans.
does a soft search AIP show the banks all my accounts including the old paid off payday loans? so at this point if the payday loans where going to be a problem I would guess it would decline my AIP.?
or is it only when they do the hard search they will see this information and then decline my main hard search mortgage?
does a soft search AIP show the banks all my accounts including the old paid off payday loans? so at this point if the payday loans where going to be a problem I would guess it would decline my AIP.?
or is it only when they do the hard search they will see this information and then decline my main hard search mortgage?
I am also worried if llyods are more strict with this info what are best banks for this kind of thing?
Answers on a postcard
hope your all well
hope your all well
0
Comments
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Your best bet with any concerns on credit is to use a mortgage broker.
That said payday loans taken over 4 years ago and paid back with no missed payments should not affect any application.1
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