Precise mortgage help

Jamesterry

Hi guys

It’s my first time getting a mortgage, had to use precise as I have a few defaults which are my fault in the past (about 2k in total) in September I got my mortgage offer and everything signed, paid the deposit etc! As it’s a new build we don’t move in till next week and that’s when the mortgage gets paid out, like mentioned all has been signed and deposits paid but my credit score has gone down, not due to any defaults etc but due to a credit card closing which was my own call (now seems bad) do you think they do a lot of other checks before payout etc? I’m worries but not sure what to do!

Thanks
James

Thrugelmir

Credit scores reflect changes to your history. Given the time the effect of the account closure will disappear. CRA's have no idea why accounts are closed. Hence the immediate negative reaction to the information.

Jamesterry

Thanks do lenders tend to do a lot more checks once everything is signed up and deposit paid before they pay over?

Jamesterry

Sorry guys just nervous can anyone help with this one?

Thanks do lenders tend to do a lot more checks once everything is signed up and deposit paid before they pay over? Are they big checks etc?

Carrot007

Yes they will likely check before releasing the money.


This is why people say to do nothing to your credit history from when you apply for the mortgage until after it.


Will they care. Seems unlikely. The only bad thing would be if you have other credit cards as you have just upped your credit utilisation.

Jamesterry

Thanks a lot

Do they do anything else or just a quick credit check again?