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aus+uk / uk.d-i-y / Re: OT: Credit rating drops after paying mortgage

SubjectAuthor
* OT: Credit rating drops after paying mortgageR D S
+* Re: OT: Credit rating drops after paying mortgagealan_m
|`* Re: OT: Credit rating drops after paying mortgageJNugent
| +* Re: OT: Credit rating drops after paying mortgageAnimal
| |+- Re: OT: Credit rating drops after paying mortgageJNugent
| |`* Re: OT: Credit rating drops after paying mortgagePeter Johnson
| | `* Re: OT: Credit rating drops after paying mortgageJeff Layman
| |  `- Re: OT: Credit rating drops after paying mortgageJock
| `* Re: OT: Credit rating drops after paying mortgageSteve Walker
|  `* Re: OT: Credit rating drops after paying mortgageTheo
|   +* Re: OT: Credit rating drops after paying mortgageJock
|   |`* Re: OT: Credit rating drops after paying mortgageHarry Bloomfield Esq
|   | `- Re: OT: Credit rating drops after paying mortgageJeff Layman
|   `* Re: OT: Credit rating drops after paying mortgageJNugent
|    `- Re: OT: Credit rating drops after paying mortgageTheo
`* Re: OT: Credit rating drops after paying mortgageMartin Brown
 `* Re: OT: Credit rating drops after paying mortgageR D S
  `* Re: OT: Credit rating drops after paying mortgagealan_m
   `* Re: OT: Credit rating drops after paying mortgageR D S
    +* Re: OT: Credit rating drops after paying mortgagealan_m
    |`- Re: OT: Credit rating drops after paying mortgageAndy Burns
    `- Re: OT: Credit rating drops after paying mortgageVir Campestris

1
OT: Credit rating drops after paying mortgage

<t4dqes$5pq$1@dont-email.me>

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From: rsa...@yahoo.com (R D S)
Newsgroups: uk.d-i-y
Subject: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 11:31:56 +0100
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 by: R D S - Thu, 28 Apr 2022 10:31 UTC

A heads up if you're precious about your credit rating, I'm not
particularly but I was surprised to get an email to say that there had
been activity that had reduced mine.
The only thing I could think of was recently making the last payment on
our mortgage, I had rather expected my rating to go up but no, i've
logged into checkmyfile and there's a 40 point dent in it.

So if you *are* precious, stretch that mortgage out and treat yourself!

Re: OT: Credit rating drops after paying mortgage

<jcvbhdFnoenU1@mid.individual.net>

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From: jun...@admac.myzen.co.uk (alan_m)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 12:19:09 +0100
Organization: At Home
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 by: alan_m - Thu, 28 Apr 2022 11:19 UTC

On 28/04/2022 11:31, R D S wrote:
> A heads up if you're precious about your credit rating, I'm not
> particularly but I was surprised to get an email to say that there had
> been activity that had reduced mine.
> The only thing I could think of was recently making the last payment on
> our mortgage, I had rather expected my rating to go up but no, i've
> logged into checkmyfile and there's a 40 point dent in it.
>
> So if you *are* precious, stretch that mortgage out and treat yourself!

My credit rating dropped when I stopped work.

Money still goes into my bank account, I still spend on CC (and have for
the past 40 years paid each month in full), My bills get paid mostly by
DD or standing order etc.

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

Re: OT: Credit rating drops after paying mortgage

<jcvjbmFp8ofU1@mid.individual.net>

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From: jennings...@fastmail.fm (JNugent)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 14:32:38 +0100
Organization: Home User
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 by: JNugent - Thu, 28 Apr 2022 13:32 UTC

On 28/04/2022 12:19 pm, alan_m wrote:

> On 28/04/2022 11:31, R D S wrote:

>> A heads up if you're precious about your credit rating, I'm not
>> particularly but I was surprised to get an email to say that there had
>> been activity that had reduced mine.
>> The only thing I could think of was recently making the last payment
>> on our mortgage, I had rather expected my rating to go up but no, i've
>> logged into checkmyfile and there's a 40 point dent in it.
>>
>> So if you *are* precious, stretch that mortgage out and treat yourself!
>
>
> My credit rating dropped when I stopped work.
>
> Money still goes into my bank account, I still spend on CC (and have for
> the past 40 years paid each month in full), My bills get paid mostly by
> DD or standing order etc.

Very similar here. It had never occurred to me that our creditworthiness
would be adversely affected by retirement and extinction of the mortgage.

The only "borrowing" we now ever do is via credit cards, American
Express and Visa (the latter only used at business which don't accept
Amex), both paid off each month.

Last year, I had upcoming reason to pay a $10,000+ bill while in the
USA. I had asked Amex to increase my card credit limit and they
increased it to the £20,000 I asked for, without hesitation. We also
have a substantial credit limit on Visa (though only ever used it in the
USA once - I couldn't quite believe that there was a business there
which wouldn't take Amex) and a decent-sized overdraft limit.

Yesterday evening, at a charity event we attended, I had to take cash
with me (admission, raffle tickets, etc). I luckily had £15 in my
wallet. Can't remember how long it had been there. It's so liberating to
be able to go out and about with just a Visa card in my pocket (bars and
pubs hardly ever accept Amex).

Re: OT: Credit rating drops after paying mortgage

<7212f54d-7a13-48d4-8b50-eb708a09e4a6n@googlegroups.com>

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Subject: Re: OT: Credit rating drops after paying mortgage
From: tabbyp...@gmail.com (Animal)
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 by: Animal - Thu, 28 Apr 2022 13:46 UTC

On Thursday, 28 April 2022 at 14:32:43 UTC+1, JNugent wrote:
> On 28/04/2022 12:19 pm, alan_m wrote:
> > On 28/04/2022 11:31, R D S wrote:
>
> >> A heads up if you're precious about your credit rating, I'm not
> >> particularly but I was surprised to get an email to say that there had
> >> been activity that had reduced mine.
> >> The only thing I could think of was recently making the last payment
> >> on our mortgage, I had rather expected my rating to go up but no, i've
> >> logged into checkmyfile and there's a 40 point dent in it.
> >>
> >> So if you *are* precious, stretch that mortgage out and treat yourself!
> >
> >
> > My credit rating dropped when I stopped work.
> >
> > Money still goes into my bank account, I still spend on CC (and have for
> > the past 40 years paid each month in full), My bills get paid mostly by
> > DD or standing order etc.

> Very similar here. It had never occurred to me that our creditworthiness
> would be adversely affected by retirement

risk of death

> and extinction of the mortgage.

credit companies use scoring to effectively promote credit.

Re: OT: Credit rating drops after paying mortgage

<jcvkd7FpesdU1@mid.individual.net>

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From: jennings...@fastmail.fm (JNugent)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 14:50:31 +0100
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 by: JNugent - Thu, 28 Apr 2022 13:50 UTC

On 28/04/2022 02:46 pm, Animal wrote:

> JNugent wrote:
>> alan_m wrote:
>>> R D S wrote:
>
>>>> A heads up if you're precious about your credit rating, I'm not
>>>> particularly but I was surprised to get an email to say that there had
>>>> been activity that had reduced mine.
>>>> The only thing I could think of was recently making the last payment
>>>> on our mortgage, I had rather expected my rating to go up but no, i've
>>>> logged into checkmyfile and there's a 40 point dent in it.
>
>>>> So if you *are* precious, stretch that mortgage out and treat yourself!
>
>>> My credit rating dropped when I stopped work.
>>> Money still goes into my bank account, I still spend on CC (and have for
>>> the past 40 years paid each month in full), My bills get paid mostly by
>>> DD or standing order etc.
>
>> Very similar here. It had never occurred to me that our creditworthiness
>> would be adversely affected by retirement
>
> risk of death

Ah...
>
>> and extinction of the mortgage.
>
> credit companies use scoring to effectively promote credit.

Re: OT: Credit rating drops after paying mortgage

<36al6hlb0a3s1c8pj9mtnqe0o5810nejfp@4ax.com>

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From: pet...@parksidewood.nospam (Peter Johnson)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 15:49:25 +0100
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 by: Peter Johnson - Thu, 28 Apr 2022 14:49 UTC

On Thu, 28 Apr 2022 06:46:53 -0700 (PDT), Animal <tabbypurr@gmail.com>
wrote:

>
>> Very similar here. It had never occurred to me that our creditworthiness
>> would be adversely affected by retirement
>
>risk of death
>
That shouldn't affect the credit rating. For many of us there will be
enough in the estate to clear any debts, especially if it includes
property.

Re: OT: Credit rating drops after paying mortgage

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From: ste...@walker-family.me.uk (Steve Walker)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 16:51:16 +0100
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 by: Steve Walker - Thu, 28 Apr 2022 15:51 UTC

On 28/04/2022 14:32, JNugent wrote:
> On 28/04/2022 12:19 pm, alan_m wrote:
>
>> On 28/04/2022 11:31, R D S wrote:
>
>>> A heads up if you're precious about your credit rating, I'm not
>>> particularly but I was surprised to get an email to say that there
>>> had been activity that had reduced mine.
>>> The only thing I could think of was recently making the last payment
>>> on our mortgage, I had rather expected my rating to go up but no,
>>> i've logged into checkmyfile and there's a 40 point dent in it.
>>>
>>> So if you *are* precious, stretch that mortgage out and treat yourself!
>>
>>
>> My credit rating dropped when I stopped work.
>>
>> Money still goes into my bank account, I still spend on CC (and have
>> for the past 40 years paid each month in full), My bills get paid
>> mostly by DD or standing order etc.
>
> Very similar here. It had never occurred to me that our creditworthiness
> would be adversely affected by retirement and extinction of the mortgage.

It does seem rather silly, as a) you've shown you can pay off a big,
long-term debt and b) for the first time in your life, you have a
guaranteed income, rather than a salary that could end suddenly.

Re: OT: Credit rating drops after paying mortgage

<eMf*lQRMy@news.chiark.greenend.org.uk>

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From: theom+n...@chiark.greenend.org.uk (Theo)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: 28 Apr 2022 20:25:32 +0100 (BST)
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 by: Theo - Thu, 28 Apr 2022 19:25 UTC

Steve Walker <steve@walker-family.me.uk> wrote:
> It does seem rather silly, as a) you've shown you can pay off a big,
> long-term debt and b) for the first time in your life, you have a
> guaranteed income, rather than a salary that could end suddenly.

It makes sense to me. Credit records are in favour of the *lender*, not
you. The score number that credit reference agencies sell you is a fiction:
each lender makes its own decisions based on their own criteria.

What a lender wants is someone to make a profit out of. Somebody who takes
out a 0% card and always pays on time makes them barely any profit.
Somebody who pays late all the time and racks up lots of fees is nicely
profitable (unless they default).

Different lenders target different markets. If your income goes down (at
retirement), the amount you're likely to spend on cards goes down too, and
so does the merchant fees. If you pay off your mortgage you might have more
disposable income (which might be good) but you also stop demonstrating your
ability to make monthly payments reliably, which could make your risk of
default go up.

This is not your Captain Mainwaring bank-manager credit check, it's
them sizing up will-they-make-us-loadsamoney. They are not the same.

MSE has more:
https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

Theo

Re: OT: Credit rating drops after paying mortgage

<op.1lcpd9kac5duzs@pvr2.lan>

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From: kdj...@gmail.com (Jock)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 05:50:23 +1000
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 by: Jock - Thu, 28 Apr 2022 19:50 UTC

On Fri, 29 Apr 2022 05:25:32 +1000, Theo
<theom+news@chiark.greenend.org.uk> wrote:

> Steve Walker <steve@walker-family.me.uk> wrote:
>> It does seem rather silly, as a) you've shown you can pay off a big,
>> long-term debt and b) for the first time in your life, you have a
>> guaranteed income, rather than a salary that could end suddenly.

> It makes sense to me.

Not to me.

> Credit records are in favour of the *lender*,

They are in fact supposed to indicate how risky it
is to lend to that individual, not 'in favour' of anyone.

Particularly with individuals who do not receive a lump
sum when they retire, you can certainly make a case that
the individual is more risky when they move to a pension
which pays less than the salary did before they retired.

> not
> you. The score number that credit reference agencies sell you is a
> fiction:
> each lender makes its own decisions based on their own criteria.

But those criteria should be a measure of risk.

> What a lender wants is someone to make a profit out of.

That isn't what a credit rating is about. If it was, those with
lots of debt that they are likely to be able to cover given their
income, would have a higher credit rating than those who
save or invest much more of their income and that isn't so.

> Somebody who takes
> out a 0% card and always pays on time makes them barely any profit.

But is a very good credit risk. A much better one that someone who
has maxed out all their cards which charge high rates of interest on
the amount owed.

> Somebody who pays late all the time and racks up lots of fees is nicely
> profitable (unless they default).

But are much more likely to default. And that's what
a credit rating is about, the risk of them defaulting.

And usually sees those charged a higher interest rate
to cover the much higher risk of a default or not get as
high a credit limit on their card or be refused a new card.

> Different lenders target different markets. If your income goes down (at
> retirement), the amount you're likely to spend on cards goes down too,

Not necessarily if you have been saving and investing at a high rate before
retirement so you are sure of being able to retain a high standard of
living
when retired.

> and
> so does the merchant fees. If you pay off your mortgage you might have
> more
> disposable income

No might have about it, of course you do when you don't have
to make mortgage payments anymore.

> (which might be good) but you also stop demonstrating your
> ability to make monthly payments reliably,

Not if you keep paying off your credit card in full every month.

> which could make your risk of
> default go up.

Not when your outgoings have dropped dramatically
when you no longer have to pay the mortgage premiums.

> This is not your Captain Mainwaring bank-manager credit check, it's
> them sizing up will-they-make-us-loadsamoney.

That isn't what a credit rating is about.

> They are not the same.

Fraid so.

> MSE has more:
> https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

That mangles the real story utterly.

Re: OT: Credit rating drops after paying mortgage

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From: a...@harrym1byt.plus.com (Harry Bloomfield Esq)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Thu, 28 Apr 2022 21:54:02 +0100
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 by: Harry Bloomfield Esq - Thu, 28 Apr 2022 20:54 UTC

Jock used his keyboard to write :
> And usually sees those charged a higher interest rate
> to cover the much higher risk of a default or not get as
> high a credit limit on their card or be refused a new card.

Credit limit is also dependent on how much use you make of the card.
Mine has a fairly low limit on it, because I never spend large sums on
it over each month, often I don't use it at all and always it is repaid
in full at the month end automatically.

Re: OT: Credit rating drops after paying mortgage

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From: jennings...@fastmail.fm (JNugent)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 01:05:35 +0100
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 by: JNugent - Fri, 29 Apr 2022 00:05 UTC

On 28/04/2022 08:25 pm, Theo wrote:
> Steve Walker <steve@walker-family.me.uk> wrote:
>> It does seem rather silly, as a) you've shown you can pay off a big,
>> long-term debt and b) for the first time in your life, you have a
>> guaranteed income, rather than a salary that could end suddenly.
>
> It makes sense to me. Credit records are in favour of the *lender*, not
> you. The score number that credit reference agencies sell you is a fiction:
> each lender makes its own decisions based on their own criteria.
>
> What a lender wants is someone to make a profit out of. Somebody who takes
> out a 0% card and always pays on time makes them barely any profit.
> Somebody who pays late all the time and racks up lots of fees is nicely
> profitable (unless they default).

....but will surely have a lower (worse) credit rating?
>
> Different lenders target different markets. If your income goes down (at
> retirement), the amount you're likely to spend on cards goes down too, and
> so does the merchant fees. If you pay off your mortgage you might have more
> disposable income (which might be good) but you also stop demonstrating your
> ability to make monthly payments reliably, which could make your risk of
> default go up.
>
> This is not your Captain Mainwaring bank-manager credit check, it's
> them sizing up will-they-make-us-loadsamoney. They are not the same.
>
> MSE has more:
> https://www.moneysavingexpert.com/loans/credit-rating-credit-score/
>
> Theo
>

Re: OT: Credit rating drops after paying mortgage

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From: jmlay...@invalid.invalid (Jeff Layman)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 08:50:56 +0100
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 by: Jeff Layman - Fri, 29 Apr 2022 07:50 UTC

On 28/04/2022 15:49, Peter Johnson wrote:
> On Thu, 28 Apr 2022 06:46:53 -0700 (PDT), Animal <tabbypurr@gmail.com>
> wrote:
>
>
>>
>>> Very similar here. It had never occurred to me that our creditworthiness
>>> would be adversely affected by retirement
>>
>> risk of death
>>
> That shouldn't affect the credit rating. For many of us there will be
> enough in the estate to clear any debts, especially if it includes
> property.

Once the mortgage is paid off the lenders have no record of who owns the
property, or hold over it. It could have been passed on to avoid future
death duties. The person who has died may have insufficient or indeed no
assets and so their debts die with them. That is why their credit rating
falls.

--

Jeff

Re: OT: Credit rating drops after paying mortgage

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From: theom+n...@chiark.greenend.org.uk (Theo)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: 29 Apr 2022 08:55:38 +0100 (BST)
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 by: Theo - Fri, 29 Apr 2022 07:55 UTC

JNugent <jennings&co@fastmail.fm> wrote:
> On 28/04/2022 08:25 pm, Theo wrote:
> > Steve Walker <steve@walker-family.me.uk> wrote:
> >> It does seem rather silly, as a) you've shown you can pay off a big,
> >> long-term debt and b) for the first time in your life, you have a
> >> guaranteed income, rather than a salary that could end suddenly.
> >
> > It makes sense to me. Credit records are in favour of the *lender*, not
> > you. The score number that credit reference agencies sell you is a
> > fiction: each lender makes its own decisions based on their own
> > criteria.
> >
> > What a lender wants is someone to make a profit out of. Somebody who
> > takes out a 0% card and always pays on time makes them barely any
> > profit. Somebody who pays late all the time and racks up lots of fees
> > is nicely profitable (unless they default).
>
> ...but will surely have a lower (worse) credit rating?

There Is No Such Thing As Credit Rating.

Your credit file shows what credit facilities you have or have recently had,
and month by month how much is owed, the repayments on them and whether they
are up to date or in arrears (and how many months in arrears), including
missed payments etc.

From this a lender can make a decision about whether you're worth lending
to. Like insurance companies, they're using this information to size you up
and decide if you're going to be profitable for them, which depends on their
business model. A payday loans lender is going to make quite a different
judgement from a yacht financing business. Just like a 'young driver'
and a 'classic car' insurer are going to look at you very differently.

This is why the 'credit score' number is meaningless, because it's up to the
lender who they want to lend to, and those criteria may not agree with the
people touting you the number.

Theo

Re: OT: Credit rating drops after paying mortgage

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From: jmlay...@invalid.invalid (Jeff Layman)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 08:58:20 +0100
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 by: Jeff Layman - Fri, 29 Apr 2022 07:58 UTC

On 28/04/2022 21:54, Harry Bloomfield Esq wrote:
> Jock used his keyboard to write :
>> And usually sees those charged a higher interest rate
>> to cover the much higher risk of a default or not get as
>> high a credit limit on their card or be refused a new card.
>
> Credit limit is also dependent on how much use you make of the card.
> Mine has a fairly low limit on it, because I never spend large sums on
> it over each month, often I don't use it at all and always it is repaid
> in full at the month end automatically.

As do I, but I ran into a major problem once when trying to spend almost
to the limit on a single item. It was flagged as "unusual activity" and
my card was not accepted. It took over an hour and a visit to a -
thankfully - nearby branch of the bank to sort out. It would probably
have been easier abroad as I'd have had a passport with me, but being on
holiday in the UK trying to prove my identity was not that easy (this
was before the days of driving licences with photos) .

--

Jeff

Re: OT: Credit rating drops after paying mortgage

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From: '''newsp...@nonad.co.uk (Martin Brown)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 09:02:14 +0100
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 by: Martin Brown - Fri, 29 Apr 2022 08:02 UTC

On 28/04/2022 11:31, R D S wrote:
> A heads up if you're precious about your credit rating, I'm not
> particularly but I was surprised to get an email to say that there had
> been activity that had reduced mine.
> The only thing I could think of was recently making the last payment on
> our mortgage, I had rather expected my rating to go up but no, i've
> logged into checkmyfile and there's a 40 point dent in it.
>
> So if you *are* precious, stretch that mortgage out and treat yourself!

It probably doesn't make too much difference. If you want to boost your
credit rating again just buy something on a zero interest credit deal.

BTW once your mortgage is paid off it is worth checking that the online
Land Registry entry for your property is correct and asking them to
notify you of any attempts to alter it. Whilst you have a mortgage the
lender keeps an eye on this for you since they don't want the property
which is their security to be stolen and "sold" by conmen.

https://www.bbc.co.uk/news/uk-england-essex-59069662

Once you have paid up in full you are on your own.

--
Regards,
Martin Brown

Re: OT: Credit rating drops after paying mortgage

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From: kdj...@gmail.com (Jock)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 19:14:06 +1000
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 by: Jock - Fri, 29 Apr 2022 09:14 UTC

On Fri, 29 Apr 2022 17:50:56 +1000, Jeff Layman <jmlayman@invalid.invalid>
wrote:

> On 28/04/2022 15:49, Peter Johnson wrote:
>> On Thu, 28 Apr 2022 06:46:53 -0700 (PDT), Animal <tabbypurr@gmail.com>
>> wrote:
>>
>>>
>>>> Very similar here. It had never occurred to me that our
>>>> creditworthiness
>>>> would be adversely affected by retirement
>>>
>>> risk of death
>>>
>> That shouldn't affect the credit rating. For many of us there will be
>> enough in the estate to clear any debts, especially if it includes
>> property.
>
> Once the mortgage is paid off the lenders have no record of who owns the
> property,

Wrong.

> or hold over it.

Duh.

> It could have been passed on to avoid future death duties.

Irrelevant to the credit rating of the individual who had it mortgaged.

> The person who has died may have insufficient or indeed no assets and so
> their debts die with them.

The mortgager would know if that had occurred.

> That is why their credit rating falls.

> Wrong.

Re: OT: Credit rating drops after paying mortgage

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From: rsa...@yahoo.com (R D S)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 29 Apr 2022 15:08:35 +0100
Organization: A noiseless patient Spider
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 by: R D S - Fri, 29 Apr 2022 14:08 UTC

On 29/04/2022 09:02, Martin Brown wrote:
> BTW once your mortgage is paid off it is worth checking that the online
> Land Registry entry for your property is correct and asking them to
> notify you of any attempts to alter it. Whilst you have a mortgage the
> lender keeps an eye on this for you since they don't want the property
> which is their security to be stolen and "sold" by conmen.
>
> https://www.bbc.co.uk/news/uk-england-essex-59069662
>
> Once you have paid up in full you are on your own.
>

Interesting....
The shit you've to worry about! I might remortgage it and buy the
campervan that I want :)

Re: OT: Credit rating drops after paying mortgage

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From: jun...@admac.myzen.co.uk (alan_m)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Sat, 30 Apr 2022 09:17:09 +0100
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 by: alan_m - Sat, 30 Apr 2022 08:17 UTC

On 29/04/2022 15:08, R D S wrote:
> On 29/04/2022 09:02, Martin Brown wrote:
>> BTW once your mortgage is paid off it is worth checking that the
>> online Land Registry entry for your property is correct and asking
>> them to notify you of any attempts to alter it. Whilst you have a
>> mortgage the lender keeps an eye on this for you since they don't want
>> the property which is their security to be stolen and "sold" by conmen.
>>
>> https://www.bbc.co.uk/news/uk-england-essex-59069662
>>
>> Once you have paid up in full you are on your own.
>>
>
> Interesting....
> The shit you've to worry about! I might remortgage it and buy the
> campervan that I want :)

Just sign up for the alert service they provide. They will send you an
email if there is any action on the properties you have or are monitoring

https://propertyalert.landregistry.gov.uk/

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

Re: OT: Credit rating drops after paying mortgage

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From: rsa...@yahoo.com (R D S)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Sat, 30 Apr 2022 11:06:03 +0100
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 by: R D S - Sat, 30 Apr 2022 10:06 UTC

On 30/04/2022 09:17, alan_m wrote:
>
>
> Just sign up for the alert service they provide. They will send you an
> email if there is any action on the properties you have or are monitoring
>
> https://propertyalert.landregistry.gov.uk/
>
I had been meaning to take a look, Is is that simple? Great, thanks.

Re: OT: Credit rating drops after paying mortgage

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From: jun...@admac.myzen.co.uk (alan_m)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Tue, 3 May 2022 01:44:40 +0100
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 by: alan_m - Tue, 3 May 2022 00:44 UTC

On 30/04/2022 11:06, R D S wrote:
> On 30/04/2022 09:17, alan_m wrote:
>>
>>
>> Just sign up for the alert service they provide. They will send you an
>> email if there is any action on the properties you have or are monitoring
>>
>> https://propertyalert.landregistry.gov.uk/
>>
> I had been meaning to take a look, Is is that simple? Great, thanks.

Out of the blue - I received an email today with the subject

"HM Land Registry Property Alert Activity Update"

On opening it and suspecting something amiss I find

"There have been no alert notifications issued on this property."

It also contains a mission statement

HM Land Registry’s ambition is to become the world’s leading land
registry for speed, simplicity and an open approach to data. Our mission
is: “Your land and property rights: guaranteed and protected”.

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

Re: OT: Credit rating drops after paying mortgage

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From: use...@andyburns.uk (Andy Burns)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Tue, 3 May 2022 08:02:40 +0100
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 by: Andy Burns - Tue, 3 May 2022 07:02 UTC

alan_m wrote:

> Out of the blue - I received an email today with the subject
> "HM Land Registry Property Alert Activity Update"
> On opening it and suspecting something amiss I find
>
> "There have been no alert notifications issued on this property."

yep, gets me everytime that one ... thankfully it's one per account, not one per
property.

Re: OT: Credit rating drops after paying mortgage

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From: vir.camp...@invalid.invalid (Vir Campestris)
Newsgroups: uk.d-i-y
Subject: Re: OT: Credit rating drops after paying mortgage
Date: Fri, 6 May 2022 21:08:42 +0100
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 by: Vir Campestris - Fri, 6 May 2022 20:08 UTC

On 30/04/2022 11:06, R D S wrote:
> I had been meaning to take a look, Is is that simple? Great, thanks.

It's that simple.

I have a hook on our house, my mother's house, and both our children.

I was impressed when I found out the trigger on my youngest's house was
'mortgage paid off' :)

Andy

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