Worried about my credit file - tips on what to do prior to mortgage application

hart89

I have had an offer accepted on an apartment, and have been in touch with a mortgage adviser. I check my credit report on clearscore and have checked a couple times in the past month on experian and my credit file/score is usually pretty good.


However at the end of November my experian score updated and it had dropped 300 points (from 960 to 614).. i was shocked! I know the score means nothing, but it must reflect something and am worried that lenders will see something on my file they don't like.


I paid for a full report , the main issues are
- I am not on electoral roll (I moved to a 6 month rented flat in september and applied to change my address, new address should now be on the register this week but currently shows as not on it)
- multiple credit applications - natwest, welsh water, vodafone (broadband). Myself and my partner opened a joint account with Natwest to pay bills etc out of, other accounts are utility bill accounts - will this potentially be an issue?)
- Credit utilisation - I have used 79% credit available to me.


Since then I have been doing all I can to clean up my credit file before even getting a DIP. I had a DIP from Habito that I have given to the estate agents so havnt done one with any mortgage providers yet.


Here's my plan of action, if anyone can give me some more advice etc that would be great ...
1 - Will go to council office on thursday to get certificate to show my name is on electoral roll and send to all 3 CRA's
2 - Myself and partner have both been in to Natwest last week to remove his name from joint account, as soon as it is off there I will contact CRA's to dissasociate with him financially. He has poor credit and a default so I'm guessing that is affecting my file
3 - I paid an extra £500 off my credit card last week, and my Mum is going to lend me another £500 to pay off this week. Not sure how to go about getting that updated on my report quickly???
4 - I have also paid off my car finance at end of November (£6333), which isn't showing on my report at present - how do I go about getting this updated ?
5 - I have a late payment showing on an old credit card (Virgin) in september 2017. I have phoned virgin to contest this as it wasn't my fault at the time.


Is there anything else anyone can suggest? Or am I worrying too much?

[Deleted User]

The payments will be updated as soon as each lender does their monthly reporting to the CRAs. You can't change that, but you can present evidence of the debts being paid to a mortgage provider if you need to.

You do sound like you're worrying too much. I know it's nice to think that the score has some meaning, but like horoscopes, magic 8 balls and the old bloke who shouts things at invisible people in the high street, they have little relevance to real life.

Let your broker know of your concerns and he can make sure your application gets placed with the right lender.

hart89

I know I am worrying more than I should, but I have been trying to purchase a property for almost a year now. Myself and my partner were buying together earlier this year , was difficult finding a lender that would consider us because of my partners credit file and a default on his file. Then the sale fell through, and shortly after my partner was offered a new job he could not turn down , however he is now self employed. I am now applying for a mortgage on my own as we can't apply together, and have found a flat that I love I am just worried about my credit file and recent changes on there. I have read about people getting rejected for one thing like a financial association, or missed payment, credit utilisation. Thank you for your reassurance though

Breadcake

I paid for a full report

You can get access to all three of your credit reports for free:
MSE Credit Club - This will get you access to your Experian report, updated monthly.
ClearScore - This will get you access to your Equifax report, updated monthly.
Noddle - This will get you access to your TransUnion/Callcredit report, updated weekly.

Each of these have a section referring to financial associations/connections.
Goes without mentioning that it's beneficial to check all areas are correct and match your circumstances.