Credit score

Kirkii27

Me and partner are wanting to buy our first home. My score has dropped to poor on Experian but I only have around £1500 debt. It is a recent loan of £1000. Does credit score really matter? As I haven’t got any other debt except from a catalogue and a overdraft of £250 which I go into every month. 

Will I have to keep my name off the mortgage? Our deposit is 50k which is a gift the property price we are looking at is 130-140k

[Deleted User]

Credit score doesn't matter at all. What does matter is your credit files and circumstances.

Your reliance on small loans and overdraft usages are a clear sign to lenders that you're struggling and can't live within your means.

Start cutting costs and at least get on an even keel. Having a 50k deposit while paying interest on small debts is madness.

Kirkii27

The 50k is a gift and it isn’t able to be used on debts. This gift is from my partners dad

[Deleted User]

Then you need to start saving. Clear your debts and then start building a more solid file of credit management.

You're not in a position to buy a house in any case, if all you have is a gifted deposit, as there are other costs you need to budget for, as well as buildng savings and an emergency budget.