Experian Score

A4445

My first mortgage account went live today on Experian. My fake score stopped by 50 points. Just shows how ridiculous it is. I’m sure having a mortgage will look favourable to lenders? Just shows why it needs to be ignored.

On the other hand Noddle score increased by about 35 points. :rotfl::rotfl:

Ben8282

Well actually, in the short term, having a new mortgage will make you less attractive to lenders until you have demonstrated that you are able to keep up the payments without causing you financial stress. In the long term, it will be beneficial so long as maintained in good order. if not maintained in good order, it will scare potential lenders that you are about to be repossessed and become homeless..

gt94sss2

As you've said, the credit scores don't mean anything.

However, I would probably agree with the way that Experian have 'dealt' with it as imho a new mortgage means a lot more debt technically making you risker for others to lend too.

However, once you've had it for a while with regular payments that should 'boost' your (meaningless) score.

A4445

You your all right I didn’t think of it like that. I’ve gone from no debt to over £100k. It doesn’t really make much difference I don’t need any credit at the moment anyway.

No_6

just do the rounds on what you are rated at

ignore them all

just don't do late payments on anything !





1

NewToTheUkAgain

Congrats on the mortgage

System

Mortgage means you have a search (probably several) on your file and significantly more debt. And no history showing you paying it off.

So yes, this makes you considerably more risky for lenders. That's why your "fake score" has dropped.

bigisi

What has this got to do with credit cards?