Would the Value of my Property affect the Score??

Mustbeananswer??

I've just checked my Equifax Credit File and the land registry figure for it is at the 2003 rate.

I purchased the house 4 years ago and it is now valued at £110,000...(estate agent) .....whereas as equifax have it at £64,000.Would this be hindering my chances of getting credit.Equifax have me as good and Experian only fair....

Can you help please:beer:

GingerBob_3

Mustbeananswer?? wrote: »

I've just checked my Equifax Credit File and the land registry figure for it is at the 2003 rate.

I purchased the house 4 years ago and it is now valued at £110,000...(estate agent) .....whereas as equifax have it at £64,000.Would this be hindering my chances of getting credit.Equifax have me as good and Experian only fair....

Can you help please:beer:

Are you referring to your mortgage debt? I didn't know CRAs held property prices, but then again, nothing would surprise me in this regard.

Mustbeananswer??

Yep....deffo there....under the heading Property Valuation...

I think it would be an issue when they are considering your worth??

forgotmyname

Whether it affects your score or not is a moot point. Only you and the company selling you the score ever see it.

Nobody else uses that score.

Thrugelmir

Mustbeananswer?? wrote: »

I think it would be an issue when they are considering your worth??

Primary lending decisions aren't made on your worth. More your ability to repay.

Debt recovery is an expensive business. So the first rule of business is to avoid bad debts.

GingerBob_3

adindas wrote: »

Like GingerBob

I am not aware that CRAs will ever records the value of property. Yo know the value of your property from site like Zoopla or Right move.
So the answer is it will not ....

What you mean is probably the remaining balance of your mortgage ?

It turns out, digging a little deeper, that the CRAs - well Equifax at least - have slithered into this area of personal information as well. They've teamed up with the Land Registry and RightMove to get details of your property and distribute it to potential lenders or any one of the myriad of other organisations who can rake through your details.

These scumbags won't be happy until they've got a complete picture of your finances on file - all debts and all assets. Slowly but surely they are working towards this goal.

Quite why a lender should be interested in the value of the property at which you lived years ago, or even now, is beyond me, but in the dark, unregulated, world of the CRAs it seems like anything goes.

Tixy

Equifax definitely were adding property information from the land registry at one point a few years ago.

It was based on the latest sale and included the date and price of the sale. I don't believe it confirmed who actually purchased the property and what the residential status of the particular consumer was.

I know there were complaints but don't know what the end result was as it doesn't affect me personally (my house was last sold prior to the relevant date).

I don't believe it should affect a credit application for the reasons thrugelmir posts.

The_Boss

Mustbeananswer?? wrote: »

I've just checked my Equifax Credit File and the land registry figure for it is at the 2003 rate.

I purchased the house 4 years ago and it is now valued at £110,000...(estate agent) .....whereas as equifax have it at £64,000.Would this be hindering my chances of getting credit.Equifax have me as good and Experian only fair....

Can you help please:beer:

You don't have a credit score - they do not exist despite what Equifax and Experian want you to believe. These are random numbers that have no meaning outside of cloud cuckoo land.

Was it a full moon last night? Lots of "my credit score" threads today for some reason.

Thrugelmir

GingerBob wrote: »

It turns out, digging a little deeper, that the CRAs - well Equifax at least - have slithered into this area of personal information as well. They've teamed up with the Land Registry and RightMove to get details of your property and distribute it to potential lenders or any one of the myriad of other organisations who can rake through your details.

These scumbags won't be happy until they've got a complete picture of your finances on file - all debts and all assets. Slowly but surely they are working towards this goal.

Quite why a lender should be interested in the value of the property at which you lived years ago, or even now, is beyond me, but in the dark, unregulated, world of the CRAs it seems like anything goes.

Information is freely available on the Land Registry in any event. So unsure why all the noise?

adindas

GingerBob wrote: »

It turns out, digging a little deeper, that the CRAs - well Equifax at least - have slithered into this area of personal information as well. They've teamed up with the Land Registry and RightMove to get details of your property and distribute it to potential lenders or any one of the myriad of other organisations who can rake through your details.
.

Tixy wrote: »

Equifax definitely were adding property information from the land registry at one point a few years ago.

It was based on the latest sale and included the date and price of the sale. I don't believe it confirmed who actually purchased the property and what the residential status of the particular consumer was.
.

I scrutinize my Equifax report carefully indeed I could see the Heading:
Property Valuation and the Registers of Scotland (ROS)
By my data is empty: Current Address No Data Present

I do not how do they determine the value of the property. This is not the area of their expertise this should be left to surveyors and/or estate agents to some extents.

Tixy

adindas wrote: »

I scrutinize my Equifax report carefully indeed I could see the Heading:
Property Valuation and the Registers of Scotland (ROS)
By my data is empty: Current Address No Data Present

I do not how do they determine the value of the property. This is not the area of their expertise this should be left to surveyors and/or estate agents to some extents.

They do not determine the value of the property. It simply states what the property last sold for according to the land registry.