Does mortgage refusal affect credit rating

[Monsoon]

Hi

as the title says - if your refused a mortgage does that affect your credit rating. If so is it wise to apply to a number of different lenders at the same time? Ive been refused by one accepted by another and am trying to shop around for better rates but am now worried if getting more refusals would affect my credit rating.

 

[jhegarty]

The search will show on your credit report , but not if it was refused or accepted.

 

[VOR]

On the application form you sign you may be asked to declare if you have ever been refused a mortgage. Not a big deal though.

 

[DiGiTaL]

I read on my report that multiple applications for credit reduces your credit score slightly.

 

[NorfBank]

I read on my report that multiple applications for credit reduces your credit score slightly.

This is true. Multiple applications for credit may affect your credit score.

[broken link removed]

17. How is a CBS calculated?

A Credit Bureau Score is based on the contents of your Credit Report at a particular point in time. The designers of a Credit Scoring system, through years of experience, determine which details are best able to predict future ability to repay. These details may include values such as number of previous late payments, number of accounts, number of previous applications for credit in the preceding 12 months, etc. The impact of each element fluctuates based on your own credit profile. A number is assigned to each of the possible values for these details. These numbers are added up to give a single number – your Credit Bureau Score.


www.moneybackmortgages.ie

 

[gameok]

How would the number of accounts you have affect your credit rating?

I presume it is better to have less accounts,