Credit rating - Mortgage application

CJRT

Hi Everyone,
Ive recently put a reservation down on a new build plot, with the build date soon approaching i know they will soon get the ball rolling for my mortgage application.

I am however very worried.

My credit rating according to an online credit scoring agency is 400. I have had an overdraft, 2 credit cards 3 personal loans and a buy now pay later. Out of these i have paid off fully 2 personal loans, 1 credit card and i no longer have an overdraft. This means i therefore closed down these accounts as they would affect the amount of credit i have.

Ive never missed a single payment on anything yet my score is still low.

After doing an online check with my bank, they have given me a mortgage in principle based on my house price before they run a credit check, meaning although its a mortgage in principle its still not finalised. I have also used a calculator to assess how much the bank may be willing to lend me, which is alot more than i require.

Im very worried that when i come to apply for my mortgage i wont be accepted due to my credit score being so low.

Does anyone have any advice? Any comments? or even something to put me at ease with this matter?

All help is greatly appreciated.

Thanks

[Deleted User]

The score is irrelevant. Lenders won't even see it.

What do your files actually say - anything negative on them?

CJRT

Hi,
Thanks for your reply.
No ive not missed a payment or had andthing negative on my record. Everything has been paid off on time and unused credit accounts closed down.

Should i still be worried when applying for my mortgage?

Thanks

kingstreet

Get a proper agreement in principle?

Our builders wouldn't accept a reservation based only on an affordability calculator output.