Excessive Finance Enquires may affect your approval.
Financiers have many things they look at in their approval process.
One that is not well known is the effect that multiple enquiries noted on your credit file can have.
This occurs when customers make several enquiries to different or the same financier/Bank or other financial institution in a relatively short time frame. Excessive enquiries can affect your chances of approval. Financiers look at excessive activity as a negative as it may demonstrate your inability to get approved or that you may have many commitments affecting your capacity to repay a new loan.
At Boat Finance we have access to a large panel of financiers who specialise in financing marine craft. As the Banks and major financiers have different rates and credit assessment criteria our consultants carefully consider which lender provides the best fit for each application, so as to get you the best possible deal.
Don’t spoil your approval chances – speak to a boat finance consultant now!