Credit Searches

[gavmoulds]

Another one.....unusual circumstances.

 

If you (or I ) apply for Finance on a Broker website...with a simple one minute application.

 

Where they are clearly a broker and only have very limited information about you....can they perform a credit search or 'soft search' without speaking to you and confirming your details and also asking for consent.

 

Just been reading about clear and unambiguous consent.

[unclebulgaria67]

Another one.....unusual circumstances.

 

If you (or I ) apply for Finance on a Broker website...with a simple one minute application.

 

Where they are clearly a broker and only have very limited information about you....can they perform a credit search or 'soft search' without speaking to you and confirming your details and also asking for consent.

 

Just been reading about clear and unambiguous consent.

 

Yes, if you gave key information and by doing so you consented to your credit record being accessed. Read their terms and conditions. I doubt they could do any check on loan eligibility without credit record check, mostly to check your identity.

 

Be careful with these loans brokers. They charge an admin fee and are suppossed to give it back, apart from £5, if they can't get you a loan in 6 months. But many don't refund. Also they sell your details on to other companies. There was a number of forum posts going back awhile ago moaning about this.

[gavmoulds]

Im not applying...neither is anyone else. Its something I have noticed on a particular site. I have read the terms and conditions and compared them to others. Some seem to have it 'almost' explained in a various combination of words and others just dont seem to give any clue whatsoever that you will be credit searched.

 

I am really struggling with the term....'Clear and Unambiguous Consent'.

[unclebulgaria67]

Im not applying...neither is anyone else. Its something I have noticed on a particular site. I have read the terms and conditions and compared them to others. Some seem to have it 'almost' explained in a various combination of words and others just dont seem to give any clue whatsoever that you will be credit searched.

 

I am really struggling with the term....'Clear and Unambiguous Consent'.

 

My understanding is that clear and unambiquous consent in terms of any online site, it where it says that if you complete these details and click to proceed, you have consented. Or ticking a box on a screen electronically is consent.

 

They should really have a clear Data Protection wording about credit searches, which comes up asa warning box, before you can click to proceed.

 

I suspect the sites weigh up whether to make it prominent information or to hide it, depending on whether it is likely to put people off giving their information. Unfortunatley regulators don't apply exacting requirements in terms of internet sites.

[renegadeimp]

If they are going to search your credit file, then it must be made clear dring the application, and then a verification check at the end of the app before the check proceeds.