Process Between Exchange and Completion and what impacts this

BoilingHotStress

Hi would like some input on this to try and assure myself.

My wife and I have exchanged on a house, we complete in 2 weeks time.

Credit Score was 999 at time of mortgage offer, prior to exchange I spent about 10k on the card, but have cleared it as I pay my card off every month in full, however, my credit file has picked up the balance on it and my score has dropped to 997.

I am 3 days post exchange and 16 days remaining to completion.

What will Halifax do between now and completion and will it impact my offer.

Am really worried as a large balance is sat in the solicitors account.:(

brettcta

credit score is meaningless - lenders don't view this. it's just a number plucked out of thin air

BoilingHotStress

Thanks, I appreciate that the Credit Score may not have a large impact or be something the lenders look at. Maybe my question should be to ask if lenders do a hard credit check in between exchange and completion and can a balance showing on the credit file reverse their decision to lend thus leaving me stranded and at the mercy of the vendor who shall get 10% as a penalty for collapse of sale after exchanging...even though I have paid the balance off within a month of using it on the credit card. Thanks

amnblog

Halifax generally keep an eye on the file throughout but I dont see you will have a problem - relax

Goldiegirl

Even if your credit score meant anything to the Halifax (which it doesn't, as they have their own internal systems)' they are hardly going to withdraw the offer because it's gone down by two points.

You used your credit card and paid it off - so there is nothing there to bother the halifax. Once the offer is produced, they don't constantly check applicants credit scores every day- they are too busy to do that.

I think you need to calm down a bit - you are worrying over nothing.