Littlewoods and ICB

ojamesc

Can anyone please advise if Littlewoods sent details to the ICB. I missed one payment last November and currently applying for mortgage, Will this show on my report? And will it effect my application?
Anyone be able to shed some light? Thank you

Boards.ie: Mark

Moved to Banking forum where I think people will be able to advise. Have flagged with the mods in case I'm wrong...

Yggr of Asgard

ICB only takes data from members which you can see here: http://www.icb.ie/membership.php

Right now your bank should not see it, however after March 2018 your bank would see it because Littlewoods will have to report it to the Central Credit Register, but hopefully by then you have your mortgage.

maximoose

Yggr of Asgard wrote: »

Right now your bank should not see it, however after March 2018 your bank would see it because Littlewoods will have to report it to the Central Credit Register, but hopefully by then you have your mortgage.

CCR is only taking payment profiles from June 17, so OP is in the clear if it's back up to date.

nikkibikki

I got my credit report recently and my Littlewoods account isn't on it.

Yggr of Asgard

maximoose wrote: »

CCR is only taking payment profiles from June 17, so OP is in the clear if it's back up to date.

Lenders like Littlewood actually are phase 2 in March 2018 which is why I said that hopefully the OP has it all sorted by than.

ojamesc

maximoose wrote: »

CCR is only taking payment profiles from June 17, so OP is in the clear if it's back up to date.

Thank you for your reply. So everything should only show as of June this year? That's great to know.

Yggr of Asgard

ojamesc wrote: »

Thank you for your reply. So everything should only show as of June this year? That's great to know.

Well as to Littlewood it won't be in ICB or CCR but the CCR is monthly now for those lenders which are required to report (banks, credit cards etc.). It's not static, it's a full live register down to minute details.

For now you are good , but people in future missing payments on stuff like that will have a harder time.

ojamesc

Yggr of Asgard wrote: »

Well as to Littlewood it won't be in ICB or CCR but the CCR is monthly now for those lenders which are required to report (banks, credit cards etc.). It's not static, it's a full live register down to minute details.

For now you are good , but people in future missing payments on stuff like that will have a harder time.

Thank you. That's good to know I'm up date, That time last November was the one and only time I was late paying as I completely forgot, As from then I get a text message a few days before payment due to ensure it never happens again.
I was just anxious and I'm over thinking every little thing as our application is gone to the underwriters.

dublinguy2609

Yggr of Asgard wrote: »

Well as to Littlewood it won't be in ICB or CCR but the CCR is monthly now for those lenders which are required to report (banks, credit cards etc.). It's not static, it's a full live register down to minute details.

For now you are good , but people in future missing payments on stuff like that will have a harder time.

Hi Asgard,

Will Littlewoods not have to report to the CCR as a money lender in phase 2? Have missed a payment myself and am waiting to drawdown my mortgage next year, probably after Match. I'm sweating now that this will have an impact.

If they do have to report would I get around it by closing my account before the march deadline?

Thanks

ojamesc

dublinguy2609 wrote: »

Hi Asgard,

Will Littlewoods not have to report to the CCR as a money lender in phase 2? Have missed a payment myself and am waiting to drawdown my mortgage next year, probably after Match. I'm sweating now that this will have an impact.

If they do have to report would I get around it by closing my account before the march deadline?

Hi Dublinguy
I Highly doubt. One missed payment will effect it. Once the rest has been up to date You'll be fine. Payments stay on your icb for 24 months (can stand to be corrected)
Have you already applied for your mortgage? And got approval?

dublinguy2609

ojamesc wrote: »

dublinguy2609 wrote: »

Hi Asgard,

Will Littlewoods not have to report to the CCR as a money lender in phase 2? Have missed a payment myself and am waiting to drawdown my mortgage next year, probably after Match. I'm sweating now that this will have an impact.

If they do have to report would I get around it by closing my account before the march deadline?

Hi Dublinguy
I Highly doubt. One missed payment will effect it. Once the rest has been up to date You'll be fine. Payments stay on your icb for 24 months (can stand to be corrected)
Have you already applied for your mortgage? And got approval?

Yes have my loan offer. Will be drawing down once the house is finished. Broker said the bank will probably do another credit refence check at that stage.

The missed payments (2) happened after the mortgage was approved. Also as shop direct ireland (littlewoods) dont report to the ICB it wasn't an issue. However, I'm trying to figure out of they will be reporting to the new Central Credit Register as a licenced money lender. Have sent conflicting reports as to whether they will report because they don't loan cash, rather spread the cost of goods.

If they do report, I'm hoping that they are not in scope until next march and hoping again that if I pay off the rest of my Littlewoods balance and close my account before March nothing will be reported at all.

Sent an email to the CRA but have gotten nothing back. Would but my mind at ease to know for certain.

ojamesc

dublinguy2609 wrote: »

ojamesc wrote: »

Yes have my loan offer. Will be drawing down once the house is finished. Broker said the bank will probably do another credit refence check at that stage.

The missed payments (2) happened after the mortgage was approved. Also as shop direct ireland (littlewoods) dont report to the ICB it wasn't an issue. However, I'm trying to figure out of they will be reporting to the new Central Credit Register as a licenced money lender. Have sent conflicting reports as to whether they will report because they don't loan cash, rather spread the cost of goods.

If they do report, I'm hoping that they are not in scope until next march and hoping again that if I pay off the rest of my Littlewoods balance and close my account before March nothing will be reported at all.

Sent an email to the CRA but have gotten nothing back. Would but my mind at ease to know for certain.