Browse Forums Home Finance 1 Mar 26, 2010 3:38 pm Hoping someone can help me. I just received my credit file for curiosity, and noticed 3 applications on there for the one loan we have had approved for this build. I am stumped as to why there are 3 applications on there and not one of them is for the amount we ended up with. The first is when we went for pre-approval back in August, then there is one from when we signed the contract in October for the amount we were pre-approved for, then the next one is from December, which I'm assuming is when it got approved unconditionally, but it is still for 6k more than they actually approved us for? Why would there be this many applications on there when we only applied for the loan once, and why all the different amounts? TIA Re: question about credit file 3Mar 31, 2010 2:16 pm i have an approved loan but land is still to settle, i am thinking of applying for another bigger loan thru another bank( both thru brokers). with all that credit checking, in the event that my application for bigger amount is rejected, will this possibly affect the loan I already have?? I have signed mortgage documents and all> VICTORY 1800, EN-SUITE, DOUBLE GARAGE, FAMILY ROOM AND ALFRESCO Land Settled: 20 July 2010 Site Scrap: 30 August 2010 Slab Pour: 20 September 2010 Frame Complete: 23 September 2010 Fascia and Gutters: 28 September 2010 Roof Complete: 06 October 2010 Lock-up complete: 28 October 2010 Plaster complete: 29 October 2010 Fix-out complete: 22 Nov 2010 PCI 7 FEBRUARY 2011 Re: question about credit file 4Mar 31, 2010 2:36 pm Ari They probably have to reapply if there is a certain amount of time between each stage. Thanks, although I think that's crap that it affects your credit file when you've only actually put in one application yourself. I could understand 2 possibly, one for the pre-approval and one for the final check, but I still dont get 3 all within 4 months and for different amounts than what we actually applied for! Pepto - I have no idea. I would double check with your broker. Re: question about credit file 5Apr 20, 2010 5:38 pm Pepto - This is unlikely to affect your application. Some lenders have been rumoured to do a credit check prior to settlement however I have never seen it done in the last 7 years that I have been a broker. Rizzo - Many lenders do credit checks whenever the loan amount is amended or if they send the loan back to their credit department to make an amendment. Almost all lenders will do this and often the LMI providers as well. Considering that loans are now credit scored it is quite inconsiderate for them to do this as it reduces your credit score for future applications. If you discuss it with them then often they can call Veda Advantage and remove the additional enquiries leaving only the most recent enquiry with the correct loan amount. You can really use anything you want the main consideration would be how it looks once painted/finished - or the look you want. Cabinetmakers use MDF because its cheap… 2 9960 I would say both styles you have pictured are steel. The lower chord of the first pic would be a massive lump if made using timber considering the size of the rafters. If… 1 6151 1 13125 |