please advice about my mortgage not reflecting in credit report

bbbirdy

I recently had a very poor credit scoring and went thru a independent mortgage advisor to buy this house. Now my credit has improved to ok status as time has passed since then. Experian report doesnt show any record of a new mortgage. So we called experian and found out that bank of scotland must have preferred not to share the mortgage information with credit companies. I am in need of a loan and I dont know how this works. I personally thought if it had said yes against the mortgage column it would have given me more support. any suggestions?

thesaint

I don't think that there is much you can do.

I don't think that the fact that you have recently taken on a mortgage and already need a loan would look favourable.

bbbirdy

oh no! why not?

we are in no debt. we bought house with no help from personal loan. The house needs work done to it and we need a tiny loan. is it bad????

raq

Actually I was quite shocked when I got my credit report a couple of weeks ago and my credit card for hsbc wasn't on there. Apparantely HSBC doesn't enclose this kind of information. strange

Robert_Sterling

bbbirdy wrote:

we need a tiny loan. is it bad????

How tiny is tiny?

bbbirdy

Some experts please! I do need an advise if there is something I could do about the mortgage to show up in credit. I'm still not sure if its a good thing or not

tiny amount means just a tiny amount to do a kitchen of 12 units and a couple of white goods.

lisyloo

Firstly I don't think you can do anything about the credit report.
It's up to lenders if they want to use particular credit reference agencies (Experian is 1 of 3) or not.
It's their choice not yours.

Can you explain why you didn't just get a bigger mortgage to pay for the kitchen?

I can't say whether you would be good for the loan or not.
On the face of it I don't see why not, but if you strectched yourself to get the mortgage then lenders might think you've borrowed enough already.

If you have a variable rate mortgage then make sure you can afford rising interest rates before you take on more debt. I expect interest rates to rise again and probably quite soon.