Reporting of a SETTLED mortgage account .

Rrushi_Shqiptar

I was hoping if anyone can confirm a query I have been having with Equifax and a Settled mortgage account on a previous address.

I have a settled mortgage account from a previous property I owned and now on my CRF with Equifax it is reported on my current address (partners home) I have raised concerns with Equifax and their 3rd party reply came stating.

"Thank you for your query. We can confirm that we are required to report against where the customer is residing. The security address relating to the loan would not always follow from a reporting perspective because if the customer leaves the property and provides us with a new address then we must report there instead"

Apart from being confusing, I am confused as to why they need to report this Mortgage against a new address....Is this detrimental to my CRF?

Thanks for any replies in advance.

JL

tomtontom

A credit history relates to a person, not an address, so previous debt/ credit will follow you to future addresses. The effect on your credit rating depends on what you mean by settled - did you redeem your mortgage in the usual fashion, or did you "settle" as a result of late payments?

Rrushi_Shqiptar

The property was sold and mortgage paid off in full. I then split with my wife and moved on to a better life.

JL