Soft Credit Check???

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John Thomas
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by John Thomas » Sat Jan 06, 2018 8:25 pm
Dear Forum

After some information of Credit Checks.....

I completed my IVA in 2015 and the 6 year period ended on December 20th 2017.

The main credit reference agencies do not show the IVA on my report, the only one that does is 'Check my file' but I presume that is because it hasn't updated (it shows Experian as showing the IVA, but I have an Experian account which does not show my IVA on file). My score with Equifax is excellent and Fair with Experian.

I today applied for a Mortgage agreement in principle, which was successful! So great news, but I want to keep my feet on the ground at this point!!

So my question is;

- Halifax suggest that they carry out a 'Soft Credit Check', can you tell me exactly what this means? e.g. would a soft check pick up and IVA at this point?

Many Thanks
John
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Foggy
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by Foggy » Sat Jan 06, 2018 8:44 pm
A soft credit check will reveal the same information as a normal check, but isn't recorded as a check for credit on the CRA files. So, if the IVA is there somewhere they will see it.

The best way to check files is to get a statutory report from each of the three agencies ( couple of quid a pop). The online reports are always up to date.
John Thomas
Posts: 5
by John Thomas » Sat Jan 06, 2018 9:00 pm
Cheers Foggy

So if the IVA had shown up, presumably I would not have obtained an agreement in principle?

I have a free month trial with both Equifax and Experian, who is the third I should get a statutory report from?

Thanks Again
John
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Foggy
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by Foggy » Sat Jan 06, 2018 9:17 pm
John Thomas wrote:
Cheers Foggy

So if the IVA had shown up, presumably I would not have obtained an agreement in principle?

I have a free month trial with both Equifax and Experian, who is the third I should get a statutory report from?

Thanks Again
John


Call credit is the third agency. The soft search is not usually examined in any great detail and an agreement in principle can still be retracted when your file is examined. From what I gather, the different agencies operate in slightly different ways and are very "woolly" in describing the differences between the searches.
John Thomas
Posts: 5
by John Thomas » Sat Jan 06, 2018 9:24 pm
Got it. The IVA cant be on any of the agencies reports as I am sure it would have failed the soft search.

I will get a call credit report.

Cheers
James
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kallis3
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by kallis3 » Sat Jan 06, 2018 10:09 pm
I have done a few 'soft' searches - it does at least show what you can have without it hurting your credit score.
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