Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Article by Richard Catlin - 15th July 2009

Don't Let Mortgage Application Fraud Damage Your Credit File

The Council of Mortgage Lenders (CML) reports that instances of mortgage application fraud are on the increase, as a growing number of consumers seek to get around tightened lending criteria.

The CML, which represents most UK mortgage lenders, and which was born from the need to combat the massive mortgage fraud rings of the 1980’s, should know better than most. It says that exact figures are not available, but most definitely there has been an increase in mortgage fraud attempts in recent months. The most common type of fraud involves exaggerating income details.

That is one of the easiest frauds to spot. Mortgage lenders are able to compare your stated income with the income you have said you have earned on other credit applications made in the past to other lenders. The only likely result of exaggerating your income is the addition of a CIFAS fraud warning to your credit file – specifically that the application contained suspected “material falsehoods”. There’s no need for a lender to prove it, as it is only a suspicion, and both the income comparison database, and that part of the CIFAS database that contains fraud warnings, are not visible to consumers. They are not contained on the credit reports that you can see, even though they will be clearly visible to anyone checking your credit file for some time to come.

Lenders have also reported an increasing number of cases where consumers have failed to disclose previous addresses or existing unsecured borrowing in an attempt to avoid having them taken into account. Again, a lender will simply be able to see and verify this information through a linked address on an individual’s credit file, as this information is automatically reported, whether the previous address is provided or not.

Preventing fraud is clearly a good thing, as the cost of fraud losses are passed on to all other borrowers, but restricting credit is quite another thing. The Government looks set to do a U-turn on plans to restrict the Loan to Value (LTV) rate that banks are allowed to offer consumers, after experts warned that it could do more harm than good, and in particular could prevent first time buyers from entering the housing market.

Gordon Brown had asked the Financial Services Authority (FSA) to consider banning lenders from approving mortgages with a high Loan-to-Value (LTV) rate - the amount you borrow compared to the value of the property - generally regarded as greater than 90%. ‘High-multiple’ lending – where lenders operate policies to allow consumers to borrow more than the historically capped multiple of 3 times income was also questioned. Now that house prices appear to be stabilising in some parts of the country, and with the Government keen to see the housing market re-ignite, the stance is softening.

Overall mortgage lending in May was still considerably down on the levels seen in previous years. Approvals were 4% up on April’s figures and with lenders slowly but surely easing their lending policies, there are predictions that the coming months may see a further increase in approvals.

Whilst LTV restrictions are showing signs of easing slightly, it’s vital to ensure that your credit rating is in the best possible shape before applying for a mortgage. As well as determining whether you’ll be approved in the first place, your score will also determine to a large extent what rate you’ll be asked to pay.

You can check your credit file based on data from all three UK credit reference agencies with checkmyfile. Choose our Unlimited Access Service for the very best value for money. Check whether you have any linked addresses, a financial association with anyone else, and with your credit score and rating included at no extra cost, see how a typical lender would rate you.

The UK's First Provider Of Online Credit Reports

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Article by Paul Anderson-Riley

16th September 2020

How To Download And Print Your Credit Report

There are several different reasons you might need to print or share a copy of your Credit Report, such as assisting a mortgage advisor during an application, showing a specific entry to a lender, or even just to keep a physical copy for your personal records.

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Article by Tom Magor

24th January 2020

Am I On The Electoral Roll? How To Find Out

With the recent conclusion of the Electoral Register’s annual update, it’s vital that you ensure your Electoral Roll information has been added correctly to your Credit Report.

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Article by Jamie Mackenzie Smith

7th November 2019

Do I Have a CCJ? How To Find Out

If you have a County Court Judgment (CCJ) in your name, it can have a serious impact on your Credit Score and ability to borrow for the entire time it is active, as well as potentially affect the outcome of the checks carried out by prospective employers, landlords and insurers.

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