Make an Enquiry Here Check Mortgage Rates Here Shared Ownership Calculator
What is a Credit Report?
A Credit report is a detailed report of someones credit history, Credit Bureaus collect information of this sort and create reports based on that information.Lenders can use these reports to determine whether or not they should loan out to a specific individual, obviously if the report shows you to have bad or average credit it is more likely you will have a higher interest rate or no loan at all.
You are able to request a copy of your credit report for free from any 3 of these credit agencies: Equifax, Experian and TransUnion once a year from AnnualCreditReport.com
. But be careful as hard inquiries can affect your credit score unlike soft inquiry’s.
Make an Enquiry Here
- A Hard inquiry is when a financial institution checks your credit rating before a lending decision.
- A Soft Inquiry is when a company or employer checks your credit as part of a background check usually with your permission – these may be noted on your report but wont affect the actual result.