Credit scores and mortgages

bazzmac

Hi all just been checking my credit score with equifax and it is showing as good 442 to be exact, should this be good enough to get a mortgage, it's not my first mortgage and is with the same lender and i've never missed any payments with them.

_Andy_

If you are staying with the same lender and not borrowing any more then your score will not be relevant.

bazzmac

_Andy_ wrote: »

If you are staying with the same lender and not borrowing any more then your score will not be relevant.

I am borrowing more, sold my house and moving to something bigger and unfortunatley more expensive in this case what do you think???

_Andy_

The 'score' that you see on your credit file isn't relevant as each lender will score in their own way.
There isn't any point in any of us speculating, you just need to apply and see what they say.

Mrs_Bumble

Most lenders have their own risk factors in the background and any lending decision is not usually based purely on credit score.

If you have history with the lender, good credit score, it fits on affordability (have you checked this) and they happy with the property then would have thought that should be ok, but having said that who is the lender!

Have you discussed with the lender direct?

bazzmac

Mrs_Bumble wrote: »

Most lenders have their own risk factors in the background and any lending decision is not usually based purely on credit score.

If you have history with the lender, good credit score, it fits on affordability (have you checked this) and they happy with the property then would have thought that should be ok, but having said that who is the lender!

Have you discussed with the lender direct?

Thanks Andy and Mrs Bumble, I have my agreement in pronciple and have started my actual application after my bid being accepted on the new house, I tried to tell them about additional income (on call money) which I get every month and they said I earn enough with my basic salary so we don't really need to add that on, so I think it looks good, i'm just worrying as it's my wifes and I dreamhouse and don't want it all taken away from us especially after selling our house so quick (9 Days) and getting the full asking price.

Mrs_Bumble

Try not to stress, one step at a time! looks like they didn't have an issue with your credit search and income not an issue as you have an AIP so you part the way there ;-)