Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to [email protected]
This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Q: How do I get a copy of my credit report?
Answer: It’s a fairly straightforward process to get a copy of your credit report.
For only £2, you can access a copy online, or you can request a written copy be sent to you from any or all three credit reference agencies (CRAs) – Experian, Equifax, and Callcredit.
All credit reference agencies are legally required to provide you with a copy. These agencies are tasked with collecting information on how an individual manages their credit and handles their debts.
While each agency maintains similar data, there may be unique information from different credit providers so it may be useful to acquire reports from all three CRAs.
It’s important to routinely monitor your credit, especially if you know you will be buying property, taking out a loan, or applying for a credit card in the near future.
It’s also useful if you’ve had issues with your credit in the past and are working to improve your score. Your credit is a crucial element of the mortgage application process – every single lender you enquire with will want to review your report and make decisions based on what is in your file.
If you have any questions about what you find in your credit report or how to improve your credit in advance of a significant financial event, don’t hesitate to get in touch with the experts at Dental and Medical Financial Services.