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2 purchases fallen through after mortgage offers issued
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PRDMKT
Posts: 87 Forumite
We have to option to move in with family to secure the sale of our property as we have done really well with the equity, however, will the fact we now have 2 hard searches prevent any future mortgage offers? we wouldn't want to get stuck with our family long term.
Our credit files are pretty well kept otherwise
Our credit files are pretty well kept otherwise
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Comments
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No reason why they should.0
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It depends what the searches were for and what credit you took out (if any). If you took on a loan for example, it would affect affordability of a mortgage, though wouldn't prevent it. A couple of searches say for a bank account switch or a new CC will have little long term effect on an otherwise well maintained credit file.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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