Mortgage Sorter | Credit reports and credit files

Mortgage Guide
Click for Full Contents

Mortgage Basics
Click for Full Contents

Credit reports and credit files

These two terms means the same. They are the overall term for information held on you by the credit reference agencies.

The agencies create your credit file or credit report from two sources.

One is public information, such as the electoral roll.

The other is information provided by banks, building societies and finance companies. It is factual information about loans you have with them at present and had in the recent past.

Lenders buy credit reports from credit reference agencies. They use it, with credit scoring, to decide whether or not to give you a loan. Credit reference agencies do not make the decision to lend you money.

You might find information in your credit report about someone else. It can only be someone with whom you have, or had, a joint credit account. If you no longer have joint credit, you can ask to be disassociated from this person. This is worth doing if the other person has a poor credit history.

If any other name appears, that is a mistake and you should tell the credit reference agency.

Information stays on your credit file for six years after you have paid off a loan.

A lender should tell you if it refused you credit because of information held by a credit reference agency.

You can check your credit report by contacting the credit reference agencies. If you believe any information shown on your file is wrong, you can tell the lender or dispute it with the credit reference agency.

Bad credit concerns? Simply ask a bad credit mortgage expert.
It's free and completely confidential. Simply fill out the form below


Value of Property	£
		(eg 125000)

Borrow How Much?	£
		(eg 92500)

Your Mortgage Type

First time buyer?		Yes No
Have you found property?		Yes No
Country

Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel