Mortgage and Credit Score

nekr0mantik

Hello all
So prior to applying for mortgage in July my credit score was rated as Very Good from various credit report places. And thus the credit check and affordability went fine on the application but I had to apply to 2nd mortgage 1 month later due to valuation issues. Sadly now the purchase has fallen through. 
Anyone got advise if I should now no longer apply to anymore and not look for another property for at least 12 months to ensure my credit score does not go too low?

[Deleted User]

Your credit score isn't a factor in lending (or anything else) so you can just ignore it.

If you still want to buy a property, you'll need to look for one and apply for a mortgage.  Lenders have no problem with you doing so. 

nekr0mantik

Deleted_User said:

Your credit score isn't a factor in lending (or anything else) so you can just ignore it.

If you still want to buy a property, you'll need to look for one and apply for a mortgage.  Lenders have no problem with you doing so. 

Hmm then why do people with bad credit history find it harder to find mortgage? Also people say you should not apply to many borrowing in small time frame as it can look like you cant manage and need to keep applying for more.

y3sitsm3

nekr0mantik said:

Deleted_User said:

Your credit score isn't a factor in lending (or anything else) so you can just ignore it.

If you still want to buy a property, you'll need to look for one and apply for a mortgage.  Lenders have no problem with you doing so. 

Hmm then why do people with bad credit history find it harder to find mortgage? Also people say you should not apply to many borrowing in small time frame as it can look like you cant manage and need to keep applying for more.

Because of the data in their credit files, not the made-up score the CRAs peddle to the general public.

nekr0mantik

y3sitsm3 said:

nekr0mantik said:

Deleted_User said:

Your credit score isn't a factor in lending (or anything else) so you can just ignore it.

If you still want to buy a property, you'll need to look for one and apply for a mortgage.  Lenders have no problem with you doing so. 

Hmm then why do people with bad credit history find it harder to find mortgage? Also people say you should not apply to many borrowing in small time frame as it can look like you cant manage and need to keep applying for more.

Because of the data in their credit files, not the made-up score the CRAs peddle to the general public.

Ok. So let me re ask the question, how long will the credit search for the 2 applications affect my credit history negatively? Is it 12 months or longer?

[Deleted User]

If your credit is semi decent, then not at all. 

If you could only have one credit search per year, it would take most people decades to get a mortgage.