# Credit Union loan before/after mortgage drawdown?



## ce2016 (10 Mar 2017)

Our broker was telling us today that it looks like,this week, we're going to get AIP for mortgage but only at 80%. So our deposit will be used up. House would need a few things done to it,so when would be best time to ask credit union for a loan?Will bank do another credit check before issuing mortgage?So should we wait until after drawdown?

EDIT- Mods- Should I post this in the Mortgages forum also?Or is double posting frowned upon?


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## Elnino (13 Mar 2017)

The banks will generally do a second ICB check immediately before the mortgage draw down. So you definitely shouldn't apply for the credit union loan until after draw down or else the mortgage offer could be rescinded.


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## ce2016 (13 Mar 2017)

Thanks. If we get approval in principle from credit union, but don't get loan until after drawdown,  will it show that they've ran a credit check?


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## Monbretia (13 Mar 2017)

Yes, once you apply to the credit union they will run a credit check before approving.


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## ce2016 (13 Mar 2017)

And do these credit checks show up when other institutions run their own credit check? So can a bank/CU see who has checked my credit rating?


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## Monbretia (13 Mar 2017)

Yes, they will see previous enquiries made, not sure if they can see who as in the exact name, might just say bank.


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## ce2016 (13 Mar 2017)

Ok, thanks for that.


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## XMarks (13 Mar 2017)

They will see who ran the credit check e.g.Ulster Bank, the date and your credit score at the time the check was run.


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