Confused. Mortgage default removed after just 1 year, score jumped up 300 points!

midkid

Hello. I logged on to Experian this morning to find that my score had jumped up by 300 points. This was due to the fact that a mortgage which I defaulted on has been removed. I am confused because I thought it would remain for another 5 years.

Here is the background - the property was repossessed in February 2016 and the default was reported to all 3 CRAs as expected, since the status of the mortgage account was reported to all of them monthly. Following the repossession, I was able to come up with the funds to pay off the balance on the mortgage before they sold the property. My mortgage lender's last update to my Experian credit report was in early June 2016, stating that the account was satisfied and the balance is zero. The account was still showing on the report last week.

Are mortgage accounts treated differently from other types of credit account? I am just conscious of the fact that it is now June 2017, one year after the last update. Does the fact that I got my home back make a difference? I always thought the account would remain on there until 6 years after the default date. Is it anything to do with the fact that because there is no longer a CML Repossession Register, a default on a mortgage shown on the credit report indicates a repossession, and in this case, I got my home back?

Obviously, I do not want to ask my mortgage lender in case they decide to put the account back on my report!

[Deleted User]

It should have stayed for 6 years. It may be an error in the reporting. Or possibly now only being reported to the other CRAs - though I would have expected it to disappear in that case ,rather than go to zero.

Keep any eye on it anyway.

Candyapple

Experian aside, have you checked the other 2 as well?

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk

midkid

Hi zx81. It did disappear. It was on there with a balance of zero up until the last time I checked, which was sometime last week. Now it's gone. Thanks, I'll check the other two CRAs and get back to you.

midkid

Hi Candyapple. Haven't checked them yet. I'll try and do it this evening. I'm quite curious to see what's on them.

midkid

It turns out Experian changed their systems which led to loads of people contacting them to let them know accounts had gone missing from their reports. The "missing" accounts were however visible to lenders all along. The account is back on there now, however, I didn't lose the 300 points because in the meantime, a CCJ and some 6 year old defaults have dropped off. I only lost 45 points when the account was added back on.

DCFC79

midkid wrote: »

It turns out Experian changed their systems which led to loads of people contacting them to let them know accounts had gone missing from their reports. The "missing" accounts were however visible to lenders, the problem was on reports generated for individuals.

Thanks for the news after 8 months.

Wizardy18

You don't have any score or "points".

DCFC79

midkid wrote: »

It turns out Experian changed their systems which led to loads of people contacting them to let them know accounts had gone missing from their reports. The "missing" accounts were however visible to lenders all along. The account is back on there now, however, I didn't lose the 300 points because in the meantime, a CCJ and some 6 year old defaults have dropped off. I only lost 45 points when the account was added back on.

Show me a lender who can see the score ?

[Deleted User]

It may still come back though.

Ignore the score. It's fictitious