2 Credit Searches for one Mortgage Application!

Leon_W

I suspect they could justify it quite easily John, but what would be the point of creating an argument over practically nothing ?

Lenders routinely double check (some on a random basis) to catch out that first time buyer who after applying for a mortgage takes out a filthy great big loan for a "deposit". I'm sure the FSA would not be happy if they didn't check at least some applications.

Someone mentioned mountains and molehills, and to be honest, that is probably the case. A search registered with the same company within a few weeks of each other just means they are carrying out due dilligence and would read as such by anyone else looking at your file.

Mortgage companies would be more wary of many searches by lots of different mortgage companies.

In my view the mortgage advisor was correct in getting a credit check done as soon as possible as this prevents what could be a lot of wasted time on your part filling out forms and providing all manner of paperwork only to find out later that there was a problem.

Regards

UK007BullDog

Absolutely!

Dear Gerry, all you did was waste your time, had steam under your collar for nothing, made a big fuss about NOTHING.

Equifax removed the note which might have been a soft footprint which means only YOU would have seen it on your credit file and no one else.

The DIPs or at application is usually just a simple credit check. How often have I put a mortgage through passing at a DIP only to be refused later on as the underwriter found stuff on the credit files. Because the customer was underhand and not forthright to tell me their real financial history in the past.


The banks have the right to do multiple checks and will do so even more due to the credit crunch and people trying to do fraud as they are getting desperate to get mortgages due to poor credit, not enough equity etc.

john3:16

It wasn't a 'soft' footprint.

Regards,
Gerry

Dan_Collins_2

john3:16 wrote: »

The search was conducted (with Experian) on 11th Feb on the basis that it would speed up our application with the underwriters (according to the Mortgage Advisor at Barclays who took our application - my wife was present I wasn't).

Then on 22nd (I think) it was done again with Experian - same type of search (when they received the paperwork). I personally think the mortgage advisor shouldn't have done the credit search first time around and just let the backoffice staff do it on receipt of the new business/pre offer paperwork - that way there would (perhaps?) had been only one search in the end.

Based on all the comments from the IFAs and Mortgage Advisors here, it was interesting that my complaint led to a successful removal of the search which suggests the Bank couldn't justify it to Experian ??? no?

Cheers,
Gerry

Gerry

We just get fed up with the public expecting lenders to lend them money with as little fuss as pos (not aiming that at you Gerry).

It was probably easier to just remove it as they had already done the check so why would it matter if it showed up or not.