You can get a copy of your own credit report without it affecting your score, and see if there's any reason why you might be refused, and address it before you apply anywhere.
Most online banking sites will have mortgage calculator tools, advising you about what you could expect to borrow, given your earnings, and how much your repayments will be.
It's a good idea to have a look at these, because it unfortunately does you no good to have refused applications on record.
Good luck.
2007-04-04 08:54:55
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answer #1
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answered by RM 6
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Your friend is partially wrong. The credit score will allow you to check (shop around) for the best rates, but the inquiries need to be made for the same thing (all for a house or all for a car, not some for a house and some for a car) and within 14 days of each other, not 3 months. Anything outside of that 14 days will have a negative effect on your score. Any new inquires for mortages made within the last 30 days of your report being pulled will not be calculated into your score.
2007-04-04 17:23:25
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answer #2
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answered by Mariposa 7
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It does get recorded each time you get a check, and it can affect your credit rating for a lot of them. However, this mainly applies to things like applying for a load of credit cards in a short space of time. Its to stop you taking a huge amount of credit out at once, which you probably couldn't afford to pay back.
There are however different types of check, there is a preliminary check which you can ask the lender to do, which is recorded but doesn't damage your rating, as its not saying your taking out a loan. You have to specifically ask for this though, but is designed for these sorts of situations.
2007-04-04 10:08:24
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answer #3
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answered by Anonymous
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Every time you run your credit report, your credit rating goes down, especially if you are denied the credit, your credit rating it goes down for any inquries, if you are gonna do a credit report, do it once a year to see where u stand, but here is a tip for your score to go up, if you have any credit cards and you ask them to give a bigger spending limit, your credit score goes up:)
2007-04-04 09:33:50
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answer #4
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answered by Anonymous
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if you apply for several forms of credit in a short space of time, it does plummet your credit score.
2007-04-08 05:09:49
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answer #5
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answered by Rebz 5
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Yes.......They consider all the checks that you have had in a year not just three months.
2007-04-04 08:57:39
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answer #6
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answered by ? 5
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true. it shows up as an credit inquiry and that may affect your score.
2007-04-04 08:52:39
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answer #7
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answered by therainbowseeker 4
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