Why do I have multiple searches for the same credit application?

There seems to be a misconception that if one credit application is made, only one search will be made. But sometimes, you’ll see more than one search for the same credit application, and usually at different addresses. Should you be worried? In a word, no.

Lenders performing multiple searches for the same application is actually quite common. They can run multiple searches with different credit reference agencies (or for different credit products) as part of that single credit application.

Let’s take a closer look at why lenders would need to do multiple searches in your details, how they’re able to do so, and whether this is something to worry about.

Why would a lender need to perform multiple searches?

If you’ve lived at your current address for less than three years, a lender may search your current and previous addresses when processing your application. This helps them to confirm your identity and see your full credit history. The application searches will show separately on your credit report—one for each address.

Some lenders have an arrangement with more than one credit reference agency, for example Experian and Equifax, so they may do a search with both agencies. Again, this gives the lender confidence that they’re seeing the whole picture of your credit health when processing your application.

Another reason why a lender may do more than one search is when trying to locate a product for you. They’ll want to be sure that what they’re offering is best suited to your needs.

Why is a lender searching my previous address?

When processing your credit application, the lender needs to be sure that they have an accurate reflection of your financial health. Searching more than your current address helps the lender get an idea of your financial behaviours, both currently and historically.

This is even more important if you’ve recently moved as there may be limited information at your current address.

Should I worry about these searches?

Under normal circumstances where you make the application, you shouldn’t need to worry about multiple searches relating to it. This is a normal process to give an accurate and complete reflection of your credit health. The application process is really important to lenders; they have to be sure that they’re making the right decision to lend to you, and the more searches they do the better informed they’ll be to make the decision.

The only time you should investigate further is when you weren’t expecting a search to be done or when a search has been done at an address you don’t recognise. Of course, you can contact the lender at any time for more information. They can explain what the searches relate to and why they have been done.