Your credit score is information regarding any loans you’ve got. It covers loans such as for example mortgages, bank cards, overdrafts, employ purchase agreements and individual contract plans.
Your credit score includes details like the quantity of the mortgage, the amount that is outstanding any missed payments. These records is placed in a credit file.
Credit file are offered for loan providers (such as for instance banking institutions and credit unions) to consult when they’re considering applications for loans. The aim of the system would be to assist loan providers to assess the capability of borrowers to settle loans.
You are able to request your credit that is own report see вЂYour credit reportвЂ™ below.
In Ireland, you can find 2 databases that gather info on loans. They are:
The Central Credit enroll as well as the ICB try not to determine whether or otherwise not you obtain a loan. Lenders utilize the credit history to evaluate your application for the loan before deciding. They might additionally take into account your earnings and outgoings, such as for instance rent and resources. Various loan providers have actually installment loans portage Missouri various requirements for approving loans.
COVID-19 re payment breaks
The Banking & Payments Federation Ireland (BPFI) announced a series of measures to support people and businesses impacted by the COVID-19 pandemic on 18 March 2020, the 5 retail banks (AIB, Bank of Ireland, KBC, Permanent tsb and Ulster Bank), along with their representative body. The measures have now been extended to incorporate mortgage that is non-bank and credit servicing organizations. (more…)