Many of us go through life without any idea how good or bad our credit rating is or even without an idea that lenders and retailers have the facility to rate us and share information about us.

The reality is that most purchases and financial transactions are recorded on computer and stored in Central Databases.  If we purchase on credit, hire purchase or installments of any kind this is also recorded.  Every loan or credit card transaction is also recorded.

Now most of us already know this, but have no idea that when a payment is late or missed or an error is made on our account, that this fact is flagged and recorded also.  However, minor the problem or error is, any kind of glitch in your repayment record can mean being blacklisted for a wide range of services, from hire purchase to credit card applications and even mortgage applications.  This is a scary fact that most of us find out the hard way, after we are refused finance.  Even for the most minor of offences or if the problem is corrected, you may have to wait up to 5 years to have your financial record clean and clear again. 

The Irish Credit Bureau records details of every financial transaction you have ever made and any bad credit which has been registered against you. To check out your credit status it is a good idea to apply to the credit bureau for a full credit report for yourself, and your partner, if borrowing jointly.

Most main stream lenders will not offer mortgages to individuals with any kind of bad credit rating however minor the offence, even if it was over a year ago.  At Mortgage House we recognize that there is an ever growing sector of the community who cannot borrow to purchase or re-mortgage their home and we offer a range of Mortgage products to suit everyone however big or small the financial problem.  Every individual is rated according to his or her own individual circumstances and if you have the capacity to repay the mortgage, Mortgage House can find the right mortgage at the lowest possible price.