Credit Reports

A copy of your credit report will be needed when we submit your full application for a mortgage to any overseas lender, lenders for UK purchases will perform their own search of this data, so it is useful to keep an eye on its accuracy:

What is a credit report?
If you have ever applied for credit (cards, loans, etc) then it is a fair bet that some information about your financial standing is stored on a national database owned by a Credit Reference Agency (CRA).

The two leading CRAs are equifax.co.uk and experian.co.uk The type of data stored usually indicates your current and previous addresses, how much credit you have already and and also if you have any defaults or outstanding CCJs. This might sound a bit 'Big Brotherish', but you yourself can monitor your credit standing and if necessary, you can disputes issues that appear on it. The subscription services that the CRAs offer can also be a useful tool to prevent Identity Theft

How do I get a copy of my credit report?
Under the data protection act, you are entitled to receive a copy of any personal information held about yourself on a computer or other file storage facility. This can be obtained online from Equifax or Experian. Equifax are the only company to allow you to obtain a credit report instantly online, however with Experian once registered, you can obtain as many copies of your report as you like for a full year. This would be particularly useful if you wish to purchase more than one Overseas property as an up to date report will be required each time.

FREE REPORTS WITH NO CATCHES: If you are not in a hurry for your credit report, CRAs are required under the data protection act to send you a copy of your credit report for just the minimal of admin costs. Normally around £2. CRAs don't make this information too easy to find on their websites, in fact they try quite hard to get to join their monthly report scheme which can cost upto £14.99 each month.

Here is the link to Equifaxes free report page
and here is Experians free report page

Contact us if you require more information about your credit report.