What information can be obtained by my mortgage co from a credit check?

rsta

I hope im posting in the right forum... apologies if im in the wrong one, please let me know.
But basically im just after completing an Sfs for EBS who i have my mortgage account with.
On the last page i had to sign a declaration that all was true etc, then there was a line to say i give permission to EBS to conduct a credit check.

What does this mean?

And what information will they get?

I only have one other loan, a loan with a credit union.
Will EBS get the details on this? Like how much i owe? The term? How much im paying?

I've supplied a copy of my current account statement to them.

Will they get details of any other accounts i hold? Whether they be current accounts or savings accounts in a bank?

Thank you

hfallada

Not all CUs report information to ICB. You can google to see if your one does. If it doesnt, the chances are the bank wont find out about the loan. However most CUs now report information to the ICB.


Nearly all financial institition report all loans eg credit card, personal loans to the ICB. You can request the report from the ICB to see what info is held about you.

rsta

Thanks for the reply hfall
Ill have a look now to see if my cu supples info..

What concerns me also is what info EBS will get from my main bank. The likes of aib, boi, ub ptsb etc.

Do they get credit card and loan account details?
Do they get details such as: balances, amount and types of accounts held at the bank?

Peregrinus

Your credit report will show:
- your name, date of birth, and all address used by you in relation to financial transactions
- the names of lenders and account numbers of loans you currently hold, or that were active within the last five years;
- repayments made or missed for each month on each loan;
- the failure to clear off any loan;
- loans that were settled for less than you owed; and
-legal actions your lender took against you

However, after a loan account has been closed for five years, details relating to that loan are removed.

Obviously, if you have borrowed from a lender who does not participate in the system, details in respect of your transactions with that lender will [/i]not[/i] be there.

If you want to see exactly what's in your own credit report, you can get a copy of your report from the Irish Credit Bureau. There's a six euro charge for this. For obvious reasons, they won't hand out the information over the phone. You'll need to apply, online or by post, and the report will come to you by post.

Marcusm

Did you disclose the CU loan on the statement to EBS? If you did, why are you worried. If you didn't.....

rsta

Thanks Peregrinus, that's grand. I think il request my credit report and see what's on it.

Marcusm yes i told them about it.

If the credit check only gives details of loans and credit cards thats grand cos ive supplied all that info.

I just wondered do they get a list of every bank account i hold.?
For example, if my current account is with boi, and i have supplied them with a statement on that account, if i also had a second current account with boi with 50quid in it, would boi tell my mortgage co about it?

the world wonders

rsta wrote: »

I just wondered do they get a list of every bank account i hold.?
For example, if my current account is with boi, and i have supplied them with a statement on that account, if i also had a second current account with boi with 50quid in it, would boi tell my mortgage co about it?

If you were 50 quid overdrawn on the account then maybe it would be included under the loans/borrowing.

But in general no they don't. I got a copy of my credit report a while back, it did not include any of my bank accounts. It included my credit card details for a particular bank, but not my current account which is with the same bank.

No Pants

I got one done in England years ago, can't remember if it was Equifax or Experian. From what I remember, it contained my personal details at the top, then a list of institutions, the relevant account numbers and a series of zeros. Any ones meant a period of arrears. From what I recall, utilities weren't counted.

I found it useful as I discovered a bank account and credit card that I'd had for approximately two years, yet had no knowledge of. Was then able to close.

I think everyone should request a credit report from time to time.