Credit Checks

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by JustPlainStupid » Mon Jul 17, 2017 6:12 pm
Evening all

So, I'm trying to become a bit more proactive with things so I logged into one of these credit check services. Everything looks ok apart from the number of searches. I think there were about 32 in the last year or something. Arvato, BW Legal, Lexisnexis... the list goes on. There were 10 of these on the 8th August 2016.

Should I be worried about this? A lot of them seem to be concerning insurance renewals. I wonder if when you get a quote from GoCompare or something they all do credit checks.

Definitely seems odd!

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by Foggy » Mon Jul 17, 2017 6:27 pm
Yes, if you use a comparison site you will get a lot of searches recorded. Usually the reason stated is for a quote, so it won't do too much damage. Searches are only recorded for a year, so will drop off in time.
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by Ryan » Tue Jul 18, 2017 7:58 am
Hi Andy,

The Comparison websites do register multiple searches - when Clients are looking to obtain a Mortgage we always advise them to avoid going on the comparison sites as the multiple searches can have an adverse effect on Lenders credit scores.

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