Mortgage & Credit Score

paye

Hi,

I have a pretty good credit score, not sure how accurate experian credit score is but I have a score of 984. I'm about to take out a mortgage and I was just wondering with two payments missed in the year, would this go against me when applying.I just forgot to pay them in time.

Thanks;)

Senior_Paper_Monitor

Another example of Experian's ludicrous 'scores'. Ignore the credit agency scores - they are solely a guideline to which quartile you might be in at best (and I'n not sure that Experian manage that based on some recent reporst we have viewed).

Yes it will - to what extent depends on the nature of the account concerned, your other credit activity and what LTV you are applying for. 90% and it probably isn't going to happen.

bigadaj

Your experian score means virtually nothing. Recent missed paye,mts aren't good and will have some adverse effect.

For more opinion post you earnings, deposit, purchase price and debt and you'll get a better opinion, simplistically at a high ltv then this could be an issue.

paye

thanks for the reply guys, I have 30% deposit to put down, and the
% of my total credit i'm using is about 10% of £16k.

how long would the late marker stay there for?

Senior_Paper_Monitor

On the information given there are plenty of lenders (but not necessarily all) who will take you at competitive rates.

6 years from account closure - although not all lenders will look at the item beyond 6 years and many actually less than that - the impact will decrease with time.

shonzyd

i agree with 'senior payment monitor's comment, the score means nothing. i have a score of 716 (poor category) yet i have no missed or late payments, no ccjs no defaults, using about 20% of my credit card...so i dont understand experians scoring system at all.