Page 1 of 1

Credit check before finally payment jessnat995

Posted: Sun Mar 05, 2017 11:53 pm
by speedboat
So finally got the offer from Precise.



Now the house isn't compete for around 10weeks.



Will they do another credit search before or do they do bankruptcy?



Thanks in advance

Posted: Mon Mar 06, 2017 11:35 am
by caboose





Will they do another credit search before or do they do bankruptcy?

Originally posted by jessnat995


You're planning to go bankrupt before completion?

Posted: Tue Mar 07, 2017 3:37 am
by kladiva



So finally got the offer from Precise.



Now the house isn't compete for around 10weeks.



Will they do another credit search before or do they do bankruptcy?



Thanks in advance
Originally posted by jessnat995


What exactly do you mean 'do they do bankruptcy'? Do you mean a bankruptcy check? As this would flag up on the credit check at AIP stage. Your'e not planning on going bankrupt are you?

Posted: Tue Mar 07, 2017 8:48 am
by speedboat
Hell no ahha. Don't ever plan on that. And doubt I will in my industry.



Just a curious question

Posted: Tue Mar 07, 2017 7:48 pm
by speedboat
Sorry I should have worded it better.



Do they do another credit check ?



Or



Do they just carry out a bankruptcy check.?



Or neither

Posted: Wed Mar 08, 2017 10:40 am
by caboose
Any lender may run further checks before completion.

Posted: Wed Mar 08, 2017 7:56 pm
by doug
I believe it varies between lenders.



Halifax did a full check on application and then didn't bother doing another one on completion, despite this being months after the original offer.



To be honest, just don't make any major credit purchases in that time and make sure you keep up all the payments.



If you have stuck another £100 on a credit card, I double the lender will care but if you took out a £10k loan.....they may re-evaluate the offer.

Posted: Thu Mar 09, 2017 1:39 am
by speedboat
Sorry I should have worded it better.



Do they do another credit check ?



Or



Do they just carry out a bankruptcy check.?



Or neither

Posted: Thu Mar 09, 2017 8:52 am
by mayfair



Sorry I should have worded it better.



Do they do another credit check ?



Or



Do they just carry out a bankruptcy check.?



Or neither
Originally posted by jessnat995




They may do both they may do one they may do none.



I was advised by my mortgage broker to maintain what was on the application. Not to go out and buy £2000 sofas on finance from DFS, or lease a new car, or take out any new credit cards, or max out the cards I have.



This can of course all be done after you've moved in though