Massive rise then drop in credit rating after getting a mortgage

Mortgage_Moog

According to Noddle I recently had a great credit score that was going up every month. I took out a mortgage and it shot up massively to an almost perfect score but now after being here for 6 weeks it's gone through the floor and is down to 3/5 from 5/5.

I think a big cause is simply the fact I'm no longer showing on the electoral register. I have changed it over but it won't update until December. I've also had many searches done for broadband, utilities etc.

Nothing bad has happened and I expected a drop but this seems to be a very dramatic change. Is this normal and how long will it take to recover?

GingerBob_3

Mortgage_Moog wrote: »

According to Noddle I recently had a great credit score that was going up every month. I took out a mortgage and it shot up massively to an almost perfect score but now after being here for 6 weeks it's gone through the floor and is down to 3/5 from 5/5.

I think a big cause is simply the fact I'm no longer showing on the electoral register. I have changed it over but it won't update until December. I've also had many searches done for broadband, utilities etc.

Nothing bad has happened and I expected a drop but this seems to be a very dramatic change. Is this normal and how long will it take to recover?

Q: if you go to comparison websites for phone and utilities, do each of the blighters you get a quote from, or even look into their tariffs, smack you up with a credit search?

Mortgage_Moog

No, quotations searches won't count as they're soft searches. I have had a few hard searches done though as you have to when you get broadband and take on a mortgage. I think the main issue is I'm not showing on the electoral register and it takes a few months for a new account to record any payments. I was just wondering if anyone else had been through this.

pcman1985

Ignore the score. It means nothing. Just get on the electoral register.

Once done and showing on your credit files you should have no problems getting Internet, TV and Utilities as log as no adverse information on your credit report. As you got a mortgage you should have no problems getting approved.

Mortgage_Moog

I already have my internet etc. I got all that done when I moved in just in case of a drop in score. I don't think I'll need any credit for at least 6 months so Ill be fine. Thanks for your input :0D