Is credit scoring fair?

Thrugelmir

LisaB1970 wrote: »

The new application was made in my name only. I apoligise for not answering your question I thought i had - I wasnt offered a reduced amount just declined outright on affordability. I had an idea the financial association may have had something to do with it too, i know santander searched my husband even though it was a single application.

Then it's highly possible that the lender considered you to be acting delibrately to conceal the truth. Not a way to build trust in a financial arrangement. Plenty of other borrowers to lend to.

Typhoon2000

LisaB1970 wrote: »

Opinions4u - i checked my credit score before I was declined the second time, and after I had been declined and it showed a drop (on Experian)
Agreed- £16k may be of concern to a lender, I accept that
And no I wasnt offered anythign lower, just declined completely - according to my MA......

I think you have missed the point, the credit score number you refer to is totally meaningless, without value, might as well be random, and won't affect your ability to get a mortgage. Your existing commitments however will.

dunstonh

Yes - it was a LOT higher before the searches and after the searches were done it dropped dramatically - i'd say that pretty much proves it.

Doesnt matter. Have you had a lender refuse you because of excessive searches? (two is hardly excessive). Your declined applications have been because you cant afford the mortgage. Not because of some hypothetical score.

As has been said a number of times, the score you see on Experian is their score and not one that is used by anyone else.