Are you a tenant and been refused credit ?

Every time credit is applied for which can be in the form of a loan for tenants or a credit or store card it is likely the lender concerned will perform a credit history check. This usually involves checking your own history and who you are financially linked with. If you live with a partner and hold joint bank accounts, or have applied together for credit in the past it is likely you will be financially linked with this person. It is worth noting that although your credit report will highlight who you are financially linked with, it will not state whether this is the reason why you have been refused, you may of course have a previous bad credit history because of a loan that was not repaid.

How do I obtain credit reports ?

Never before has access to credit reports been so easy. One of the top credit reference agencies in the UK, Experian, is offering a new online service which allows tenants and everyone else to access their credit history report at any time and receive weekly alerts should significant changes occur. If you have had previous bad credit or just want to check on your status you can get your report by clicking on the image on the right.

What does a credit report contain ?

This will often depend on the credit agency. Usually, the type of information may include electoral roll details, aliases, associations with loan companies, CCJ's, bankruptcies and voluntarily arrangements, bank account information, repossessions, previous credit searches from lenders and other similar institutions, financial associate searches, known addresses, GAIN and CIFAS information. GAIN is an organisation whereby members who are usually lenders or financial bodies alert each other to private or council tenants with bad debt who suddenly move without providing a new address. The UK’s fraud prevention service otherwise known as CIFAS attempts to identify false applications for credit including loans.

Please Note! YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. ALL SECURED OR UNSECURED LOANS ARE SUBJECT TO STATUS. SECURED LOANS ARE SECURED ON PROPERTY.