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    • Room237
    • By Room237 6th Jul 18, 11:28 AM
    • 4Posts
    • 0Thanks
    Room237
    Leasing and Underwriter wants Bank Statments
    • #1
    • 6th Jul 18, 11:28 AM
    Leasing and Underwriter wants Bank Statments 6th Jul 18 at 11:28 AM
    Hi All,

    Would really appreciate some advice on this.

    Recently started out as a freelance graphic designer and in the process of applying to lease a new computer.

    I have had a request for 2 months bank statements from the leasing company's underwriter and am concerned that on paper my finances don't look good! As I am jut starting out I have had to borrow cash from friends and family to tide me over until invoices from clients have been paid.

    As I am already in this process would it affect my credit score if I refused to supply statements until a time when my finances are more consistent?

    Thanks in advance,

    Martin.
Page 1
    • zx81
    • By zx81 6th Jul 18, 11:29 AM
    • 18,577 Posts
    • 19,837 Thanks
    zx81
    • #2
    • 6th Jul 18, 11:29 AM
    • #2
    • 6th Jul 18, 11:29 AM
    You don't have a credit score.

    It will just show as a search on your credit files. On its own, that won't concern most lenders.
    • Room237
    • By Room237 6th Jul 18, 11:33 AM
    • 4 Posts
    • 0 Thanks
    Room237
    • #3
    • 6th Jul 18, 11:33 AM
    • #3
    • 6th Jul 18, 11:33 AM
    Thanks so much for the super speedy response!

    Might I ask, do you think from the description of my statements that I'd be successful in the application?
    • zx81
    • By zx81 6th Jul 18, 11:35 AM
    • 18,577 Posts
    • 19,837 Thanks
    zx81
    • #4
    • 6th Jul 18, 11:35 AM
    • #4
    • 6th Jul 18, 11:35 AM
    If your statements are showing you have affordability issues, then possibly not.

    I assume they have concerns re your income/debt ratio to have asked for them.
    • Room237
    • By Room237 6th Jul 18, 11:41 AM
    • 4 Posts
    • 0 Thanks
    Room237
    • #5
    • 6th Jul 18, 11:41 AM
    • #5
    • 6th Jul 18, 11:41 AM
    Last question (I promise)... You're saying this still won't affect my credit rating? Thanks so much for your time!
    • zx81
    • By zx81 6th Jul 18, 11:45 AM
    • 18,577 Posts
    • 19,837 Thanks
    zx81
    • #6
    • 6th Jul 18, 11:45 AM
    • #6
    • 6th Jul 18, 11:45 AM
    You still don't have a credit rating. That's a made up, fake, pretend, not real number that the CRA gives you.

    It can go up, down, or fly out to Russia in a desperate attempt to get last minute match tickets for all it matters. It is not, as the millennials say, a 'thing'.

    What you have is credit history - with three CRAs.
    • SeanG79
    • By SeanG79 6th Jul 18, 3:17 PM
    • 871 Posts
    • 386 Thanks
    SeanG79
    • #7
    • 6th Jul 18, 3:17 PM
    • #7
    • 6th Jul 18, 3:17 PM
    For all "new start" businesses (trading under 2 years), underwriters will almost always request business bank statements to show affordability
    • Room237
    • By Room237 6th Jul 18, 4:50 PM
    • 4 Posts
    • 0 Thanks
    Room237
    • #8
    • 6th Jul 18, 4:50 PM
    • #8
    • 6th Jul 18, 4:50 PM
    Thanks both. I got the lease, so panic over! Thanks for your help and have a great weekend!
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