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  • FIRST POST
    • Bongofish
    • By Bongofish 11th Oct 18, 1:42 PM
    • 32Posts
    • 3Thanks
    Bongofish
    Should getting a mortgage drop my credit score this much??
    • #1
    • 11th Oct 18, 1:42 PM
    Should getting a mortgage drop my credit score this much?? 11th Oct 18 at 1:42 PM
    So got a mortgage in June. First one . And paid all bills on time and cleared all debts before applying for mortgage. So basically I don't have any finance apart from phone and mortgage. But my credit score has gone from 443 on clearscore to 286 and very poor. Is this normal?. All it says in things I need to improve on is not to make to many credit applications. But this is when I was applying for a mortgage. I thought credit scores would have got even higher after a few months of mortgage payments.

    There is literally nothing else I can see. And yes I am on the electoral role at new address ....hmmmm
Page 1
    • zx81
    • By zx81 11th Oct 18, 1:54 PM
    • 19,660 Posts
    • 21,042 Thanks
    zx81
    • #2
    • 11th Oct 18, 1:54 PM
    • #2
    • 11th Oct 18, 1:54 PM
    Yes. Your credit score is a fictional number that doesn't measure your credit worthiness, so any change is fine and also irrelevant.

    Just make sure the data is correct on all three files.
    • kwame41
    • By kwame41 11th Oct 18, 2:13 PM
    • 142 Posts
    • 116 Thanks
    kwame41
    • #3
    • 11th Oct 18, 2:13 PM
    • #3
    • 11th Oct 18, 2:13 PM
    Ignore the scores.


    They have gone down because of the hard search(s) on your credit report when applying for a mortgage. Also the increased borrowing on your file probably.


    But they are meaninglesss anyway.
    Last edited by kwame41; 11-10-2018 at 2:16 PM.
    • Hazzinho
    • By Hazzinho 11th Oct 18, 4:35 PM
    • 732 Posts
    • 322 Thanks
    Hazzinho
    • #4
    • 11th Oct 18, 4:35 PM
    • #4
    • 11th Oct 18, 4:35 PM
    Time at an address is also an impact, the longer you're there your score will improve.
    • Gary_Dexter
    • By Gary_Dexter 11th Oct 18, 5:21 PM
    • 2,758 Posts
    • 1,566 Thanks
    Gary_Dexter
    • #5
    • 11th Oct 18, 5:21 PM
    • #5
    • 11th Oct 18, 5:21 PM
    Time at an address is also an impact, the longer you're there your score will improve.
    Originally posted by Hazzinho
    To achieve what?
    • Ben8282
    • By Ben8282 12th Oct 18, 7:58 PM
    • 2,476 Posts
    • 1,139 Thanks
    Ben8282
    • #6
    • 12th Oct 18, 7:58 PM
    • #6
    • 12th Oct 18, 7:58 PM
    Ignore the score.
    Your ability to obtain further credit will probably be temporarily reduced due to the new credit commitment with a significant monthly repayment.
    When you have demonstrated an ability to make your monthly mortgage repayments without it causing you financial stress, your ability to obtain further credit should improve.
    • Samsung_Note2
    • By Samsung_Note2 13th Oct 18, 7:41 AM
    • 706 Posts
    • 329 Thanks
    Samsung_Note2
    • #7
    • 13th Oct 18, 7:41 AM
    • #7
    • 13th Oct 18, 7:41 AM
    To achieve what?
    Originally posted by Gary_Dexter

    Stability..they like to see you live at your address for a period of time.
    Its really rather simple...I cant spell and your a Bully..Hang your head in shame.
    • Gary_Dexter
    • By Gary_Dexter 13th Oct 18, 9:08 AM
    • 2,758 Posts
    • 1,566 Thanks
    Gary_Dexter
    • #8
    • 13th Oct 18, 9:08 AM
    • #8
    • 13th Oct 18, 9:08 AM
    Stability..they like to see you live at your address for a period of time.
    Originally posted by Samsung_Note2
    I meant the fictional number improving.
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