Lenders search your credit file at the credit reference agencies whenever you apply for credit.
They want to confirm that you are who you say and you live at the address you gave. And they want to see how you handled credit in the past.
This happens whatever type of credit you want – mortgages, credit cards, store cards, charge cards, HP or hire purchase, overdrafts and personal loans.
Each time a lender searches your file, the fact is shown on your file. The search leaves a footprint. The footprint stays on your record for one year.
Be careful about making numerous credit applications before you are sure you want to go ahead. Lenders might suspect you have money problems if they see numerous searches within a few months.
Read More About Bad Credit Ratings
- What Is A Bad Credit Remortgage?
- Why Choose A Bad Credit Remortgage?
- How To Get A Bad Credit Remortgage
- Things To Consider about Bad Credit Remortgaging
- Bad Credit Remortgages: Questions and Answers
- About Bad Credit Ratings
- Credit Reports and Credit Files
- What is Credit Scoring and Credit Rating
- What is a Credit Search
- Here’s The Good News
- Finding Lenders for Adverse Credit Cases
- Adverse Credit Record Agencies
- Causes For a Bad Credit Rating
- County Court Judgement Mortgages / CCJs
- How Are You Credit Rated?
- How To Check Your Credit Rating
- Bad Credit Remortgages
- Mortgages For People With A Bad Credit History