Are your credit details correct?
Before applying for a mortgage or any other financial product, it’s important to check that your credit status and financial history are correct and up to date. This information is recorded online by Callcredit and Equifax. The details they hold are almost always the same as those reported by Experian, and you can access them using a quick and simple service called Check My File.
With Check My File, you only need to look in one place to find out if the information that’s held about you is accurate. You’ll be presented with a user-friendly line by line comparison of the details held about you by the different agencies – so you can see straightaway if anything’s wrong.
What are your creditors saying about you?
When you log into Check My File, take time to make sure all your details are accurate and up to date. In particular, look for information about whether or not you’ve missed any payments in the past, if your personal details are recorded correctly and whether all your existing credit agreements are listed.
If any contracts have come to an end, check they’re marked as closed and paid in full on your credit file. And make sure your account balances and credit limits reflect your current situation.
Track your credit history
There are many providers that will allow you to check your credit score, so it’s easy to monitor how your use of credit has evolved over time. You’ll be able to look at how much you’ve borrowed on mortgages, credit cards, loans and other forms of credit such as Hire Purchase over the last six years.
This will help you form a wider picture of your overall finances, which is especially helpful if you’re looking to cut down on your borrowing or restructure your debts to reduce costs.
Personalise your account
A useful feature of Check My File is the ability to change the name of one or more providers on your credit report to make it more personal and meaningful to you. For example, if you took a loan out with Joe Bloggs Bank to buy a car, you might change the name to ‘Car Loan’ so you can identify it easily.
This feature is particularly helpful if you have more than one account with the same institution, for example, a credit card and personal loan with the same bank.
Please note when clicking external links on this page you will be departing from the regulatory site of Penny House Financial Services Ltd. Neither Penny House Financial Services Ltd nor Quilter Financial Planning Ltd are responsible for the accuracy of the information contained within the linked site.
By clicking the link, you will need to register your details with Checkmyfile and enter into a free 30-day trial period. This will allow enough time for you to register your information and download your report. You are free to cancel this trial period at any time during the 30-day free trial period without penalty. Should you fail or choose not to do so, Checkmyfile will charge you a subscription fee of £14.99 per month thereafter.
To get the best from this service, please ensure you register all of your primary and/or associated addresses within the last 6 years.
Penny House Financial Services Limited will receive a payment of £12 per free trial entered into via the link to Checkmyfile’s website. This is payable whether you cancel the trial period or not.
It should be noted that lenders will not be assessing the report produced from Checkmyfile and will undertake their own research and assessment.
By clicking the link you’re departing from the regulatory website of Penny House Financial Services Limited. Neither Penny House Financial Services Limited nor Quilter Financial Planning are responsible for the accuracy of the information contained within their site. Details of how to unsubscribe or cancel this service, is available directly from the Checkmyfile website under their T&C’s which states “If you wish to cancel your subscription, please log in and send us a Secure Message at any time, email us, or call us on our Freephone telephone number 0800 086 9360 during normal office hours. In all cases we will provide you with a cancellation reference code in confirmation.”