How applying for a loan via mortgage broker, Deal Direct, can help your credit score.
Consulting with mortgage broker, Deal Direct, can be an advantage when it comes to gaining a mortgage agreement in principle.
Some lenders only work with intermediaries and offer their mortgage products via broker channels. Others offer mainstream mortgages but may also have a separate operation that works directly with intermediaries.
The advantage of working with Deal Direct is that we can give you access to a wider choice of home loan as well as enhanced or exclusive offers that are not available on the wider market. Depending on the lender, this can mean:
- improved mortgage rates
- exemption from or reduced fees
In the case of Santander for Intermediaries, when an application is submitted for a mortgage agreement in principle, they carry out a soft credit check. This means that the search will not appear on your credit report and prevent you from gaining any further credit in the form of credit cards or other types of loan. This is important because other mortgage lenders will not be able to see that you have already been credit checked by another lender and your score remains the same.
The fact that your credit score remains unaffected means that you are free to thoroughly search the rest of the market for the best mortgage products without losing your agreement in principle.