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  • FIRST POST
    • bigpat
    • By bigpat 19th Mar 17, 5:20 PM
    • 248Posts
    • 127Thanks
    bigpat
    Buy-to-let mortgages on credit report
    • #1
    • 19th Mar 17, 5:20 PM
    Buy-to-let mortgages on credit report 19th Mar 17 at 5:20 PM
    Hi,

    Should buy-to-let mortgages be linked to the address they are for, or does it make any difference?

    I am within two years of paying off my home mortgage but I also have two BTLs with 10 and 13 years outstanding. My credit report lists my home mortgage and one of the BTLs, but not the other. And there is no mention of the addresses of those two properties.

    So will a lender incorrectly assume I have two mortgages on my home address, thereby affecting my affordability?

    Should I put this right? One former tenant left a string of unpaid bills (and rent!) and then did a runner. Would I be somehow associated with that?
Page 1
    • Tarambor
    • By Tarambor 19th Mar 17, 5:44 PM
    • 407 Posts
    • 251 Thanks
    Tarambor
    • #2
    • 19th Mar 17, 5:44 PM
    • #2
    • 19th Mar 17, 5:44 PM
    Credit files aren't linked to addresses, only to the individual. You have a BTL mortgage therefore it appears on your file if the lender chooses to notify the credit reference agencies.
    • DCFC79
    • By DCFC79 19th Mar 17, 5:52 PM
    • 28,748 Posts
    • 18,154 Thanks
    DCFC79
    • #3
    • 19th Mar 17, 5:52 PM
    • #3
    • 19th Mar 17, 5:52 PM
    You know that there 3 agencies lenders etc use, is the BTL that isnt on your report with the same provider as the other ?
    Je Suis Charlie
    • bigpat
    • By bigpat 19th Mar 17, 6:59 PM
    • 248 Posts
    • 127 Thanks
    bigpat
    • #4
    • 19th Mar 17, 6:59 PM
    • #4
    • 19th Mar 17, 6:59 PM
    No, all three are with different lenders.
    • bigpat
    • By bigpat 19th Mar 17, 7:07 PM
    • 248 Posts
    • 127 Thanks
    bigpat
    • #5
    • 19th Mar 17, 7:07 PM
    • #5
    • 19th Mar 17, 7:07 PM
    Thank you. So, one of the three lenders chose not to submit that info to Experian?

    Do you happen to know how the affordability score works in the MSE Credit Club? Mine's showing as "very weak" even though my "score" is 999. How do they assess this? We're actually doing fairly well at the moment and could comfortably afford more borrowing, but firstdirect told us we failed their affordability checks and refused to advance us more.

    After mortgage, one credit card, utilities, council tax, all shopping etc. we have nearly £600 a month over. I'd like to borrow £30k extra for an extension but was turned down.

    I might be able to borrow it elsewhere but it'll be more expensive. Just a bit puzzled as to why we failed the check.
    • Ben8282
    • By Ben8282 20th Mar 17, 2:48 AM
    • 1,634 Posts
    • 641 Thanks
    Ben8282
    • #6
    • 20th Mar 17, 2:48 AM
    • #6
    • 20th Mar 17, 2:48 AM
    I don't have a BTL mortgage but I do have a mortgage on a property which is not the house that I live in.
    There is no mention of the address of the property to which the charge actually applies. It shows only my current residential address.
    My mortgage reports to Experian only. No mention on my Equifax report. Unsurprisingly, Experian score me 999 but Equifax don't give me their top score.
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