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Mortgage Eligibility Checker 

Terms and Conditions


If you use the Mortgage Eligibility Checker tool to calculate your likelihood of getting a mortgage then the following applies. This documentation should be read in conjunction with our Privacy Policy and Terms of Business.

To use our Mortgage Eligibility Check tool, you must be arranging a mortgage on a property that you or your immediate family will reside in. You must also be a British or EU national or have indefinite leave to remain in the UK. This tool is operated by Lending Score (a third party) on behalf of Mortgage Thoughts. It is designed to give you an indication of how likely you are to be accepted, should you make a full application for a particular mortgage deal. The results of this search will not impact your credit score or your ability to apply for credit elsewhere. As part of the indicative eligibility check, Lending Score will need to retrieve and use data from one or more of the three main Credit Reference Agencies (CRAs) in order to provide your eligibility results.

 

A Credit Reference Agency (CRA) is a company that collects personal information from various sources and provides that personal information for a variety of uses (including to prospective lenders for the purposes of making credit decisions). How Lending Score and the CRAs will use your information is detailed in the section of our Privacy Policy called “Who will we share your data with”. By confirming your agreement to proceed you are confirming that we may each use your information in this way.

 

Your eligibility is determined by a high-level check of your credit record and the additional information you have provided. This does not constitute an offer of credit, and you may be referred or declined once a full assessment of your application has been completed.

By providing you with an indicative comparison of mortgage products and the likelihood of you being able to obtain those mortgage products, we don’t look at whether the mortgage is suitable for you and your financial needs. The mortgage eligibility service is not, and should not be construed as, a recommendation, financial or other professional advice. Professional advice should always be sought before taking action. This can be obtained by contacting one of our qualified advisors on 0800 014 8321.

It is important to note that our online mortgage eligibility service only covers a small number of lenders and there are other products available. By contacting one of our advisors we will be able to check your eligibility with an unrestricted panel of lenders.

If you are providing information about someone else you must make sure that you have their permission to do so and that are aware of our Privacy Policy and Terms of Business.

 

The use of personal information:

Lending Score will search a CRA who will provide information about you, any joint applicant and anyone with a financial association (A Financial association is a link that’s created when you apply for a financial agreement with someone else) to you or the joint applicant. The CRA will provide Lending Score with the publicly held data, including the electoral roll and shared credit performance data. If you have a financial associate their data may also be provided. This data is not shared with Mortgage Thoughts.

The information provided to us or Lending Score may be disclosed to a credit reference or fraud prevention agency, which may keep a record of that information; and that such credit reference or fraud prevention agency may disclose that information, and the fact that a search was made, to its other customers for the purposes of, preventing fraud, tracing and collection of debt.

The CRA may also use the data to undertake statistical analysis. When the CRA receives a search from Lending Score they will place a quotation search footprint on your credit report (as well as the report of any joint applicant or financial associate), regardless of whether you progress any application. This search will not affect your or their ability to gain credit. If you choose to pursue an application, any data that you provide to that lender to progress your application will be subject to that lender’s own privacy policy.

More information about each CRA and what it does with personal data is available at the following locations:

TransUnion: www.transunion.co.uk/crain 

Equifax: www.equifax.co.uk/crain 

Experian: www.experian.co.uk/crain

You can contact any of the CRAs if you wish to obtain a copy of your credit report:

Experian, Consumer Support Centre, PO Box 9000, Nottingham NG80 7WF or call 0800 0138888 or log on to www.experian.co.uk.

TransUnion, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 0330 0247574

Equifax Ltd, Customer Service Centre, PO Box 10036, Leicester, Le3 4FS or log on to www.econsumer.equifax.co.uk/consumer/uk/showmyequifax.ehtml