Question about mortgage credit checks

kingstreet

See responses to questions;-

Robinsonandi wrote: »

So I guess my questions are:

1. Will this effect our credit score? Possibly
2. Will we be checked again? (The solicitor has my money and I thing the mortgage money ready for completion already Possibly
3. Can the lender pull out after we have exchanged contracts? Yes
4. If they do, what will I loose? Your deposit plus breach of contract costs and compensation
5. If I pay the balance off today, will it be on my records in time? It's more about the search, rather than the actual amount. The amount may come out "in the wash" of an audit and judging by the rest of this thread leave you neck-deep.

Frankly, you've done it. You might just as well ride the wave and hope it takes you to the beach!

Robinsonandi

Well paid everything off in full today, reduced the amount of credit available to us and closed one card account. If they ask we can always show them proof that our balances are now zero