Credit Reference Agencies

Everyone in the UK will have information about them stored in files held by certain credit reference agencies. These credit referance agencies are set up to assist lenders to make a credit score about you and then can decide whether or not they wish to loan you the funds that you have applied for.

The information that they hold will be a variety of things including information on behalf of lenders about any credit agreements that they have with borrowers and public recorded information.

The credit agreements that they have with borrowers would apply to you if you have previously had any loans. If you have and you paid your loans in full with no deffered payments then you could expect your credit report to be 'good'. However, whether or not you have paid these loans does not automatically mean that your credit report will be 'good'. There are many other factors that should be taken into consideration too.

If you need to obtain a copy of your credit report you can apply to experian, either by post or online, and will cost a couple of pounds