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  • FIRST POST
    • Jmbrown
    • By Jmbrown 11th Aug 18, 10:15 PM
    • 2Posts
    • 0Thanks
    Jmbrown
    First time buyer mortgage help!!
    • #1
    • 11th Aug 18, 10:15 PM
    First time buyer mortgage help!! 11th Aug 18 at 10:15 PM
    Hi all,

    Sorry to bother you but wondering if I could have some advice/expertise.

    My situation ;
    - 24 yo, first time buyer.
    - Earning 40k
    - Offered accepted and buying a property 206k
    - Deposit of 51,500k
    - 75% LTV

    My problem ;
    I am stupid, decided to get a phone contract ( ee ) and was Initially going to go with nationwide, got a DIP from nationwide. Both hard credit checks and have hit my credit rating. My clear score has gone down from 445 to 347. However Experian has only dropped from 980 to 936.

    I have submitted a full application to HSBC ( Tuesday last week ) with a mortgage broker. I had an AIP from HSBC for the full amount and as they have the best interest rates I went with them.

    I am worried my new credit score will be a problem, any views? Is the score that important or is it taken with a pinch of salt and more around credit history?
    I have had car finance, watch, other misc things, never defaulted or had any missed payments.

    I guess nothing I can do now but would be nice to have opinions, will keep you updated as to the outcome!

    Thanks in advance.
    Justin
Page 1
    • Jmbrown
    • By Jmbrown 11th Aug 18, 10:39 PM
    • 2 Posts
    • 0 Thanks
    Jmbrown
    • #2
    • 11th Aug 18, 10:39 PM
    • #2
    • 11th Aug 18, 10:39 PM
    Ps. Have gone for HSBC fixed 5 yr mortgage 2.14%
    • jaelato1
    • By jaelato1 11th Aug 18, 10:50 PM
    • 32 Posts
    • 12 Thanks
    jaelato1
    • #3
    • 11th Aug 18, 10:50 PM
    • #3
    • 11th Aug 18, 10:50 PM
    Ignore the credit score, means zilch to lenders. They have their own way of scoring, they only do the check for your credit history
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