We will search for your records at credit reference agencies when considering your loan application.
- Credit reference agencies supply us with credit information, as well as information from the Electoral Register.
- When we search for your records, this is called a “soft check” and it won’t affect your credit score.
- We then conduct a formal (or “hard”) check of the credit register when you submit a final application for credit. This might impact your credit score.
- We will inform you before we make a formal search of the credit register.
- We may use credit scoring or other automated decision-making systems when assessing your application and to verify your identity. Where we make an automated decision, you have a right to request a review of the decision.
- Credit searches and other information provided to us and/or the credit reference agencies, about you and those with whom you are linked financially, may be used by us and other companies if credit decisions are made about you, or other members of your household.
- This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account.
- Information held about you by the credit reference agencies may already be linked to records relating to one or more of your partners and you may be treated as financially linked, which means your application will be assessed with reference to any associated records.
- We will also add to your record with the credit reference agency:
- details of the Credit Agreement with us;
- the payments you make under it;
- and any default or failure to keep to the terms of the Credit Agreement.