It will contain details of any accounts in your name
What is included in my credit report?
As standard, whenever a credit agency is asked to run your credit profile by a potential lender, it will contain details of any accounts in your name, the date they were opened, the current limits on those accounts and whether you have missed any payments.
This information also includes accounts that might have been closed previously, which can remain on your credit report for up to 6 years. As well as previous accounts, credit searches also appear on the report regardless of whether you were approved or declined.
Other general personal information such as date of birth, as well as electoral and address details which tend to be used to confirm your identity as well as look up addresses associated with your name.
Furthermore, if there are any CCJ’s, bankruptcies or home repossessions, these would continue to appear on your credit report for 6 years.
There are many misconceptions and rumours about pieces of information that appear on your credit report but actually don’t. Some of these bits of information are:
- ‘Soft searches’
- Student loans
- Council tax arrears
- Parking or driving fines
- PPI, CPP, bank charges and other reclaims
- Whether you’ve checked your credit report
- Race, religion, ethnicity
- Salary
- Savings accounts
- Medical history
- Criminal record
Representative 22.93% APRC variable.
For a typical loan of £26,600 over 180 months with a variable interest rate of 19.56% per annum, your monthly repayments would be £484.00. This includes a Product Fee of £2,660.00 (10% of the loan amount) and a Lending Fee* of £763.00, bringing the total repayable amount to £87,030.00. Annual Interest Rates range between 11.7% to 46.5% (variable). Maximum 50.00% APRC. *Lending Fee varies by country: England & Wales £763, Scotland £1,051, Northern Ireland: £1,736.
Think carefully before securing debts against your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
