Experian issue.

Riche113

Hi, I wanted to try and resolve an issue Ive been having with Experian.

My Partner would like to take a mortgage for £66000. But it seems my credit score was holding this back to £45000 from a mortgage broker because of my credit score.

The problem was a bank loan I had from Nationwide for £12000 which I paid off the remaining balance of £8700 in February 2020, so I owe them nothing. This was with the hope that this would improve my credit score allowing my partner to get the full £66000 mortgage.

But it seems that trying to get Experian and Nationwide to talk to each other and to move my loan into a settled status is more or less impossible. 

I have a letter from Nationwide stating the loan is settled. 

What can I do? 

Thanks Richard

[Deleted User]

If it was only settled last month, it should be updated this or next month.

If you need to demonstrate to your broker it's settled, just show them the evidence.  It's the perceived debt which is the issue, not the pretend score.

Riche113

The broker is trying to get the mortgage from someone called Platform. It’s Platform who won’t except this evidence. 

Problem is they will only go by what Experian says. Even though the balance of the loan is £0. It’s status isn’t “settled” 

[Deleted User]

Then you'll need to either use another lender or wait until the status is updated.

Fireflyaway

Zx81 is correct, it takes time for your credit file to reflect recent changes. 

Riche113

Ok Thank you