Barclays Mortgage Offer - Final Credit Check after Valuation?

James831

Hi there,

I am currently buying a flat and obtaining my mortgage with Barclays.

I have a decent deposit and all has been smooth sailing so far with regards to affordability. The property was valued two days ago and the valuation has come back and I have spoken to Barclays and checked the tracker and it says it is processing and I should receive a Mortgage Offer soon once everything is okay.

However - I am really scared with an issue on my credit report.

I had an excellent credit score with all my bills always being paid on time etc. - however I missed three consecutive payments on a Credit Card from August to October 2021 - it was unknown to me at the time due to me being overseas that these payments were missed, and when I tried to challenge it it was too late. This affected my credit score and was really stressful as the payments had not been missed due to affordability, it was an administrative error!

When I tried applying for Agreement in Principles back in April time these were rejected because of the payments issue - so I decided to wait a while again and found a new property I love - put an offer in in October and went through a Broker and all has been smooth sailing with getting my AIP. My credit score has considerably improved as it has been a year since the payment issue on my credit report and it is now in the 'good' category across all the agencies.

As part of my mortgage application, I can see on Credit Karma and Experian that a Hard Search was done in October 2022. I haven't wanted to draw attention to this but when I ring Barclays directly for updates and ask subtly if all the credit checks have been done, they say 'as far as we can see, yes', and they say there is nothing outstanding - but it is still vague.

However, this is playing on my mind. Does anyone know if Barclays (going through a broker) complete another credit search prior to exchange and prior to the mortgage being offered? I am so anxious about this coming back up now - but I guess because they haven't raised it as a potential issue yet it shouldn't be new information at the final stage? Otherwise they wouldn't have wasted their time doing the valuation?

Can someone share their thoughts? Thank you!

[Deleted User]

I’m not a mortgage broker or anything but from what I have read on other threads I think provided the broker was aware when they seen your credit report, and still submitted it to Barclays, and the AIP passed, it would’ve been noticed during that stage and wouldn’t have went to valuation. Even if it went to an underwriter I imagine it would be fine with your explanation, fingers crossed for you anyway hope it all goes through smoothly!