Hi Don, Once you have lodged an application for finance the enquiry is registered on your credit file. There are many reasons that the finance may not have been proceeded with, this reason just needs to be explained to the new lender. If the application was declined then I would work out a mitigation strategy with the lender prior to lodging the new application. Even if you do not have a clear credit file there are many lenders that are available to provide funding.
Hi Don, Your credit score will be impacted definitely. But these enquiries can be explained to your future bank. The key now is work out why your applications were rejected twice and need to find the right bank to fit into your current situation. A broker can assist you. Good luck. Cheers James
Hi Don, the quick answer is YES, however its not the end of the world, if your enquiries hasnt progressed to a loan, then some lender will accept your application and assess accordingly. my advise to you, reduce your credit enquiries to enhance your credit score, and if you go with a broker, like me, i will not lodge an enquiry (application) for any of my clients unless i tick all the boxes, insuring a higher rate of approvals.
Hi Don Thank you for your question Yes, your credits file will show the enquiry your lender did, but not if you did a withdraw. Every enquiry will be noted within your credit file, and every time you score will decline. How lower the score, how less likely you can get a good deal from a lender As aforementioned it is important to get the application right the first time. I'm happy to explain more if you want, just fill in the contact from
Yes and No. Part of an application is a credit enquiry that gets registered - for the amount of your loan application. There can be many reasons why loans are declined or withdrawn (the better option) and any new application requires reasons why the loan was applied for - if they were declined or withdrawn. Even clients with good credit and income can be declined back on lender policy - so its no issue - just needs a broker to understand the reasons to find a new lender. The way I do lending is take a new enquiry to my lender contact or the credit team to mitage any questions on Income, Deposit or Policy,.
Hi Don, the answer depends on how many applications you have on your credit file. If you at the last min decided to go with another lender, than this must be explained why you have taken this decision. Otherwise would look as if the other lender has declined and you are looking for another option. Hope this helps Cheers Osman Duman Fig Finance
Hi Don Thanks for the query. Generally speaking as long as there is a good reason for the withdrawal, as long as the rest of your credit file is clean, you have good income and equity/deposit it shouldn't be a problem. If you'd like to fill out the contact form I can give you a call to discuss. Cheers, Tom.
Hi Don If you have a loan withdrawn, it will reflect a a credit enquiry on your credit file. The good news is you don't have a declined loan in your credit file If you need any assistance with finance, please click on my profile as I would be more than happy to assist Leo
If your application has been assessed and then withdrawn it would've incurred a credit inquiry. The file doesn't discriminate between loans that have been approved or withdrawn unfortunately which is why it's important to get your application right the first time.
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shouldn't be - depends on reason. but i do have lenders who help people with Credit impairment. Please feel free to contact me via my profile page. Look forward to hearing from you. Have done a lot of credit impaired loans.