Default Removal - Does it help your score?

WestMae

Hi Everyone,

My partner had a default listed on 29th October 2015, he settled it in 2018 and therefore I’m hopeful that it will be removed this month, with it being 6 years since it was listed on 29th October. Has anyone had any experience with a default coming off their report, does it make much of a difference to your credit score?

We really want to try to apply for a mortgage in principal with a mortgage advisor, his current score is average (Fair on Experian and Checkmyfile etc) so I’m really hoping that the default coming off will improve it.. Does anyone know roughly how much this will help or will it not make much difference?

Thanks in advance

[Deleted User]

Your score is likely to drop when the default comes off, as it's a major change.  But lenders will view you far more positively, which is all that matters.  The score is just a gimmick that only you see.

MaryNB

Your score doesn't matter. Only you and the credit reference agency see it. Lenders don't see it and even if they did they won't have the same criteria as CRA - CRAs don't grant loans. 
The bank will look at the data on your credit report and do their own internal scoring which you don't see. 

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