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Experian drop
col81
Posts: 338 Forumite
Hi my credit score has dropped to 888 on experian from 999 after 2 mortgage hard searches is this normal and how long will it take to recover?
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Comments
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The score will drop with any change, and since any lender (mortgage, loan, credit card) will have their own requirements it is only seen by you. What matters is your credit history, so anything showing is all paid on time and you are well within any limits. In UK (unlike USA) the score is meaningless, and is only a guide as to what the agency thinks you might be scored by as a lender, A bankrupt could have 999 and someone with a million in the bank and who has never missed a payment could have 222
When Experian start to offer loans then it may have some meaning but until then ignore the advertising and just look at the history on your account. When you get a mortgage and it is reported be aware that the score will drop again!!
Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20361 -
Ignore the score. Its made up.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Very normal nothing to worry about.0
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today good news it went up by linking your bankDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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