Should getting a mortgage drop my credit score this much??

Bongofish
Bongofish Posts: 32 Forumite
in Credit file & ratings
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

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    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
    kwame41 Posts: 168 Forumite
    edited 11 October 2018 at 2:16PM
    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.
  • Hazzinho
    Hazzinho Posts: 742 Forumite
    Time at an address is also an impact, the longer you're there your score will improve.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Hazzinho wrote: »
    Time at an address is also an impact, the longer you're there your score will improve.

    To achieve what?
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    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
    Samsung_Note2 Posts: 774 Forumite
    !!! wrote: »
    To achieve what?


    Stability..they like to see you live at your address for a period of time.:wall:
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Samsung_Note2 wrote: »
    Stability..they like to see you live at your address for a period of time.:wall:

    I meant the fictional number improving.
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