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Creditexpert

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debtfreein2008
debtfreein2008 Posts: 72 Forumite
in Credit file & ratings
Hi

I've been subscribing to credit expert for last few months as wanted to get a mortgage, (have had offer so all good). However yesterday I noticed my credit score has gone down by nearly 300 and from just about good to in middle of poor! I know people believe credit scores mean nothing but I disagree. I had a mortgage pre approval from my bank showing and today I see it's gone! Luckily I haven't gone via them.

Anyone else noticed this and think it's completely out of order!

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Your score really does mean nothing.

    All that matters is what is on your fles. Is there anything erroneous on there?
  • David_White
    David_White Posts: 892 Forumite
    Fourth Anniversary 500 Posts Combo Breaker
    A lender doesn't even see the score or grading system companies like Experian give you.

    I've seen plenty of people with "excellent scores" that actually have terrible credit profiles and vice versa.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Rrushi_Shqiptar
    Rrushi_Shqiptar Posts: 308 Forumite
    Debt-free and Proud!
    hi I think you will find they have just changed their scoring system, it was always a bit odd before. I checked mine and it too had dropped by over 180 points. Not too worry
    I love green dots :T I hate red dots :mad:
  • debtfreein2008
    debtfreein2008 Posts: 72 Forumite
    I have a couple of small historic, 2010 default. Both settled and no everything else is perfect. To be honest Ive just brought a car on finance with no issue, prime lender and also I have a mortgage offer in principle but I would like to be able to get one the low rates that are about right now but I guess take what I can get for 2 years and then move to another provider. I'd also like a bank account with more features but this is also hard to do with less than perfect credit. I guess waiting another 12 months wont kill me!
  • David_White
    David_White Posts: 892 Forumite
    Fourth Anniversary 500 Posts Combo Breaker
    I'd suggest having a chat with a specialist as there may be high street lenders out there which are flexible with historic defaults.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Mummyto4kids
    Mummyto4kids Posts: 195 Forumite
    We've just successfully got a mortgage with Halifax at 95% using Help to buy and I have an old settled default for £600 from 2010 - they were very accommodating, just had to give them an explanation of it and demonstrate that all of my credit commitments since then had been met on time. Worth using a broker if there is any kind of past credit issue I would say
  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    1,000 Posts Combo Breaker
    debtfreein2008 wrote: »
    I know people believe credit scores mean nothing but I disagree.
    You're wrong.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • debtfreein2008
    debtfreein2008 Posts: 72 Forumite
    Gaz83 wrote: »
    You're wrong.

    ha ha - i often am!
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