Mortgage not on 2 of the 3 credit reports - is that an issue?

alexw1

Hi, was wondering if anyone could give any advice please?


I didn't have a great credit history to start with because I was young, impulsive & no real clue about budgeting & money, but a few years back I pulled my socks up, started doing my best & stopped using my credit cards for living on, stopped robbing peter to pay paul, started getting my bills paid on time & stopped dodging bills & started to try to pay back what I'd borrowed & spent.
That was going ok, although it was a lot longer, steeper climb up that hill, than it was freewheeling down it to start with!!
Then 3 years ago I needed to buy my house, but although I'd been paying the mortgage & bills for 6 years, I couldn't get a mortgage broker to find me a mortgage, as the affordability calcs said that I couldn't possibly afford a mortgage & all the bills. Anyway, long story short was that I got myself a 2nd full time job with some additional part-time hours on top of that & in a year I got myself loan & overdraft free & did some real damage to the credit card debt. I haven't used my overdraft or flexible loan since then & now, when something gets put on the credit card (like shopping or fuel), it gets paid off the next day from the bills account (usually before it even shows on the credit card account).
Although my credit score did improve a little, importantly, the 2nd wage meant that someone felt that I could afford to own the house I'd been paying for for all that time & offered me a mortgage (at a reasonable rate too!)


Since March 2018, the mortgage has been paid (never been late or missed), however it has only ever been reported to Equifax, not Experian or Transunion - so although all the credit reference agency's show all the negative things on my account, only 1 has the positives from the mortgage history.
I want to start looking for a longer term fixed deal when I remortgage, but I want to have a potential offer in place before Brexit & the broker has advised that some company's will make offers & they last for 6 months - which will cover me in case Brexit causes any issues, but also won't commit me in case the mortgage rates drop (like the value of 10 year bonds last week).
Does anyone know if my mortgage & mortgage payments NOT showing on Experian & Transunion will decrease my appeal to some lenders, as I don't intend to make 3 or 4 mortgage applications & kick a hole in my own boat!


Thanks in advance for any help / replies.

[Deleted User]

You should worry about credit scores as much as you should worry about Brexit - in that you shouldn’t worry about either.

Credit scores from the CRA’s are made up and not used by lenders.

Who is the mortgage with?

It could just be that they don’t report to all 3 CRA’s.

alexw1

Thank you.
Mortgage is with Masthaven.
I've spoken to them & to Transunion today & Masthaven have confirmed that they only report to Equifax & Transunion have said there's nothing that I can actually do about it to change that it isn't reported to them.
I was just curious if it'd cause me any issues (& hopeful that it wouldn't!)

[Deleted User]

It depends on what CRAs are searched by the lenders you apply to. They will only see what is shown.

DCFC79

!!! wrote: »

You should worry about credit scores as much as you should worry about Brexit - in that you shouldn’t worry about either.

Credit scores from the CRA’s are made up and not used by lenders.

Who is the mortgage with?

It could just be that they don’t report to all 3 CRA’s.

I agree with this (and zx81's post)


Your score is neither here nor there, the history is whats important.


There's no way to tell if or what issues will happen re Brexit.

roosterpotatoes

It is not unheard of for lenders to ask for copies of a credit report (I am a case manager for a mortgage broker and actually uploaded one to a lender as a requirement of an application - it was Equifax). BUT this was an extreme case and for a purchase NOT remortgage.

It is only generally flagged as a problem when you default on a payment so I wouldn't worry about it seeming not to include the positives on Experian or Transunion.

When are you hoping to remortgage?? The climate is stagnant at the moment and rates do remain quite low.

alexw1

roosterpotatoes wrote: »

It is not unheard of for lenders to ask for copies of a credit report (I am a case manager for a mortgage broker and actually uploaded one to a lender as a requirement of an application - it was Equifax). BUT this was an extreme case and for a purchase NOT remortgage.

It is only generally flagged as a problem when you default on a payment so I wouldn't worry about it seeming not to include the positives on Experian or Transunion.

When are you hoping to remortgage?? The climate is stagnant at the moment and rates do remain quite low.

Thank you to everyone for your advice.

Thanks Roosterpotatoes.
My current fixed rate ends in March 2020, but I’m hoping to secure a 5 to 10 year fixed rate, at a better rate, so I’m going to be looking from about mid October. I’m just trying to make sure everything’s lined up, sorted out & as good as it can be before then.

[Deleted User]

Are you remortgaging with your current provider or a new one?

alexw1

I was planning to look through a broker, to see the best deal I can find