Car insurance renewal post mortgage offer

Thinkandgrow1

Hi I’m sure this has probably been discussed before however I have just received my mortgage offer from Nat West however my car insurance is due to renew next month. I’m aware some lenders run a further credit check before completion and I’m concerned renewing monthly car insurance will be seen to be a new open account on my credit file. Has anyone any experience with this?

thank you 

BarelySentientAI

It will be fine.  Lenders don't care about renewing car insurance.

DullGreyGuy

BarelySentientAI said:

It will be fine.  Lenders don't care about renewing car insurance.

They won't care about the car insurance but the OP states they pay monthly and some will do a credit check for the premium loan, particularly if it's a third party lender like Premium Credit. 

The chances are that you are likely to be ok but better to speak to your mortgage broker about the impending potential loan application 

BarelySentientAI

DullGreyGuy said:

BarelySentientAI said:

It will be fine.  Lenders don't care about renewing car insurance.

They won't care about the car insurance but the OP states they pay monthly and some will do a credit check for the premium loan, particularly if it's a third party lender like Premium Credit. 

The chances are that you are likely to be ok but better to speak to your mortgage broker about the impending potential loan application 

Yes, if the lender does another check they will see a 12-month agreement ending and being replaced by another 12-month agreement for a similar (and relatively low) value.

DullGreyGuy

BarelySentientAI said:

DullGreyGuy said:

BarelySentientAI said:

It will be fine.  Lenders don't care about renewing car insurance.

They won't care about the car insurance but the OP states they pay monthly and some will do a credit check for the premium loan, particularly if it's a third party lender like Premium Credit. 

The chances are that you are likely to be ok but better to speak to your mortgage broker about the impending potential loan application 

Yes, if the lender does another check they will see a 12-month agreement ending and being replaced by another 12-month agreement for a similar (and relatively low) value.

More likely they will simply see a hard search for a credit application. It won't state how much the loan is to be nor what purpose, though who the creditor is may make it obvious. The actual loan itself will typically take a month or so to appear because of the reporting cycles.