Question on Credit Scores

7839matth

Hello,

Im just wondering how important a credit score/Credit Rating is if i do not plan on going into any more lending?

But on the same subject i currently have an Experian rating on over 700 (Good), However i know that i am in crippling debt..

And finally..

As i already have a mortgage, when it comes time to move to a new fixed rate, would having a destroyed credit file affect anything to do with that?

Many thanks

[Deleted User]

The score is irrelevant. But having a good credit history is vital for any future credit considerations, including remortgaging.

Thrugelmir

Your only option maybe to stay with you existing lender as far a mortgage is concerned. Then it's down to their policy what they'll offer you. Some now credit check as a base procedure. Your mortgage won't be withdrawn but the offers may not be as good as you wish.

The_Boss

7839matth wrote: »

Im just wondering how important a credit score/Credit Rating is if i do not plan on going into any more lending?

But on the same subject i currently have an Experian rating on over 700 (Good), However i know that i am in crippling debt..

Not important in the slightest as you do not have a credit score, you have a random made up number that Experian have conned you into thinking is a credit score.

Your situation (crippled by debt) sums up how these 'credit scores' are irrelevant made-up numbers.