credit score

newuserantuk

Hi, Just looking for some advice from anyone with relevant experience or knowledge.

Now I know credit score doesn't always reflect a full credit story, and lenders use their own ways to decide if credit will be given.
But as a rule of thumb, if for example, a ccj that is due to fall off my file in February, how much of a rise in credit score would it instantly give me on my next report?
On Experian I'm currently on fair 877 out of 999, one point off a good rating.
Im hoping that when this falls off I will gain a few more points, as my recent 2-3 year credit has been spot on.


On a separate note, once the CCJ has fallen off, I will have one satisfied default left on my file from 5 years ago. Is this going to stop me getting a mortgage, or would it just mean higher deposit/interest rate as Ive read in other posts.

I appreciate any replies,

Thanks for your help
Anthony

[Deleted User]

There's no answer. There are too many variables and none of them matter in terms of how lenders see you. Your score may even go down as the CCJ falls off.

Lenders will purely go off the data on your report.

So no CCJ = better than CCJ.

bsms1147

It will increase by 72.4.

robber2

my detailed analysis and calculations suggest an increase of only 68.85

andyfromotley

Hi New user,

as you will gather by the above replies we dont place a lot of faith in credit scores. In fact its fair to say that we think they are complete nonsense devised by the credit agencies as a way to keep people nervous about their mythical score and willing to pay up to £180 per year to 'manage' it!

However all is not lost. You have quite rightly grasped that lenders form thier own score about you from your credit history. Apply common sense, does each event make you look better to a prospective lender? Manage your finances well and you will be fine. Where you have made mistakes then time is the great healer.

With regard to your mortgage position, post on the mortgage board where lots of broker give general advice or see abroker in real life. Lots of people with credit problems get mainstream mortgages, but its a case of knowing the right lenders to approach and when.

I hope this helps.

HappyMJ

I have good credit and my score on Clearscore is consistently going down each month and I can't figure out why. I have no CCJ's, arrears or defaults. My outstanding debt is going down each month as I pay them off so my "score" should be improving....but it's not.

newuserantuk

Andy and ZX, thanks for your replies!

Nasqueron

I score you 2 ginger biscuits and a chocolate hobnob. It will go up to 5 bourbons and a custard cream when the CCJ goes off. You can pay me £0 a month for a report where I will make up random biscuit related ratings which will have exactly the same validity as your score from Experian i.e. none

Save yourself the money and cancel the report. You can get the statutory report for £2 and that contains everything you need