different credit scores with experian and equifax

evo6.5

Hi all.

I'm wanting to get on the property ladder early next year. So I've applied to 2 companies for my credit file. After paying off debt and being a good boy for about a year, experian have gone from 200 to 980. But equifax have stayed at a poor status. Ive got a default on my file which comes off in 5 yrs.

Question! Why are 2 credit file scores so different? Also can i still get a mortgage with a default?

Many thanks for reading this

[Deleted User]

The scores are different because one is worthless and the other is irrelevant. Just make sure the data is correct.

You can get a mortgage with a default, depending on other factors. But you will need a broker.

Malmo

evo6.5 wrote: »

Hi all.

I'm wanting to get on the property ladder early next year. So I've applied to 2 companies for my credit file. After paying off debt and being a good boy for about a year, experian have gone from 200 to 980. But equifax have stayed at a poor status. Ive got a default on my file which comes off in 5 yrs.

Question! Why are 2 credit file scores so different? Also can i still get a mortgage with a default?

Many thanks for reading this

As above...

Additionally, as a UK individual, no one has a universal or central rating/score, so the Experian, Equifax & Callcredit/Noddle "ratings" are not indicative of anything that lenders will see and use. Each lender assesses & scores applicants against their own criteria to establish whether or not the applicant fits their target customer profile.

Best to have a read of this MSE article first for general tips.

There is also no need to sign up for any paid subscription services with the Credit Reference Agencies. A statutory report costing £2 from each agency is sufficient and reports the same information as a subscription report. Although some data may not be visible on a given agency's report, it may be visible on reports from the other 2 agencies, as different agencies have different relationships with lenders/creditors. For example, this means that a lender searching Experian only may not see any data that companies report only to Equifax and/or Callcredit/Noddle. Hence, you need all 3 reports to obtain a full picture of your profile. It is worth reviewing all 3 reports well ahead of time, to enable you to spot any errors and have them corrected in good time.

See links below to each agency's statutory report.

Experian Statutory Report

Equifax Statutory Report

Callcredit Statutory Report AKA Noddle

pvt

As Experian and Equifax do not know how much you earn, how secure your job is, what you want to borrow money for, nor what it might be secured against, how accurate do you expect their guesses to be?

What are the details of the default: who with? how much? etc? TBH a year old default, depending on what it is, is likely to be a significant obstacle to you getting a mortgage at a normal rate of interest.

The hilarious fact that Experian have given you a rating of 980 out of 999 when you have a year old default, demonstrates what a load of twaddle their 'credit score' is.

Save and behave, and wait for the damage to heal.

[Deleted User]

pvt wrote: »

Save and behave

Love that slogan. You should get Martin Lewis to buy that off you.

The_Boss

Wish people would have a read of the board and the sticky threads before posting