new mortgage - credit check advice

Jo1923

so want to move house - our dream bungalow has come for sale and we want to put an offer in 
we have 267k deposit ( equity ) and need additional mortgage for about 260k. a quick mortgage search with our combined income of 76k we can do this…we have literally just this week paid off credit cards, and  due to me consolidating some small credit i took out a 4k loan on low apr in nov and i have literally had a couple of no spend months and can also clear that small loan - but because i took out this loan recently my score did a nose dive ! we had an agreement in principle last year and aside from this 4k loan which has just been paid off nothing has changed apart from credit score ! do you think will be ok ? we have no defaults etc 

kingstreet

Unlikely to be a problem.

Jo1923

thanks - i have read that they don’t actually look at your score - more what is on file ?? is this correct. 

Hoenir

Has someone made an offer on your current property?

Jo1923

yes the asking price …which we were not expecting so soon! so it’s thrown us a bit 

amnblog

You are worrying over detail, you are 50% loan to value which will be the key factor on getting a good score from the Lender.