Mortgage offer now credit score is down?

Astu1

Hi.
We got our full mortgage offer from Halifax last week. Took 3-4 weeks. Im a very negative person so ive always been expecting something to go wrong
Checked my credit score this morning on experian and my score has went down 41 points. Ive used 100 credit last month but paid £200 off. Only diffrence is hard searches from Halifax.

Would that have pit my score down by 41 points?
And
Halfax will do a final credit check before they release the funds, will this effect me as my score is lower.? ( even though its cause of the search they did.? )

Any help woild be greatful.

Thanks

System

Your score is a meaningless number generated by credit reference agencies to convince you to buy products through them for which they get commission. No lender uses their scores because they can't see them and they generate their own internal scores. There are lots of people on this board and the loans board with perfect 999 scores being turned down for even mobile phone contracts.

The contents of the file are what count, not the mickey mouse number they give you.

If this is worrying you I hate to think what will happen when you've bought the property and the mickey mouse score drops 100 points.

welly_59

its the search that has taken your score down

[Deleted User]

I wouldn't worry about it - it's a made up number

Watch as your "score" plummets when they carry out the final credit check and then the account gets added to your files..

Astu1

Thanks for the replies. Im just paranoid somethings going to go wrong with this as nothing ever good happens to us.. im always looking into things that can go wrong.

Pixie5740

Instead of worrying why not read the sticky at the top of the Credit Files and Ratings board.

Astu1

I would if i knew what you are talking about. Whats a sticky.? Never even knew what a forum was till about 4 weeks ago..

anniecave

Have a look at the post by fermi in the below:

https://forums.moneysavingexpert.com/discussion/4974939/what-your-credit-score-really-means

Also if you haven't already, look at the MSE credit club:

https://www.moneysavingexpert.com/creditclub