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If you already have a residential mortgage (non buy-to-let) and you apply for another / others, when they do the credit checks, can they find out if you already have a mortgage? So, if you don't declare you have a mortgage, is there any way they would find out?
Following from the above question, what information do they get, when they do their credit checks?
Many thanks
Yes if mortgage data is sent to reference agencies by current lender they will see it, recent mortgage app they knew what outstanding balance on each credit card for that billing cycle too even though/if they are cleared. You can have two mortgages non btl mortgages if you have the means to support it.
There are 3 main credit reference agencies (CRA) in the UK: Experian, Eqauifax and Call Credit.
All lenders will send details of their debtors through to the agencies on a monthly basis.
When lenders do affordability checks they will compare your declaration of your outgoings against what comes back from the agency that they use.
No CRA covers all of the borrowings in the UK, so you may be lucky and they will not find out about an outgoing that you have, but the chances are they will.
It would be fraud too.
Good point Al there is that side to it of course,
There are 3 main credit reference agencies (CRA) in the UK: Experian, Eqauifax and Call Credit.All lenders will send details of their debtors through to the agencies on a monthly basis.
When lenders do affordability checks they will compare your declaration of your outgoings against what comes back from the agency that they use.
No CRA covers all of the borrowings in the UK, so you may be lucky and they will not find out about an outgoing that you have, but the chances are they will.
They even found an outgoing I'd forgotten I had. Led to a few tense moments with them quizzing me about a payment I insisted didn't exist... Didn't help they wouldn't tell me who it was too and for how much