Will multiple mortgage offers hurt my credit score?
At what point is a "footprint" left on my credit report when enquiring about mortgages? Can I get multiple options from different companies in order to calculate the best mortgage without affecting my credit rating?
Because you’re not eligible to vote in UK and EU elections, you can’t register on the electoral roll here. This is a problem because in the UK credit reference agencies like Experian include electoral roll information on credit reports to help banks and lenders check your name and This is an area where you definitely need to be very clear on the question you ask any prospective mortgage lender. If it’s “if I apply for a mortgage what rate am I likely to get?” then you are merely requesting a credit quotation and, if they need to check your credit report to provide this, the footprint this leaves behind won’t affect credit scoring. If, however, the question is “will you lend me this amount of money?” then that is usually treated as an application – even if it’s only described as a decision in principle – and you should expect this to leave a credit-application footprint on your report, which can be used to help work out your credit score. You can find more information about different search footprints in our fact sheet Your credit report and previous searches, including how credit-application footprints actually affect credit scores. You should certainly try to limit these. (October 2012)
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