Credit checks during application

We'll carry out a credit reference search when you apply for a loan and a credit score will be calculated based on the information you enter and your credit reference information. This will help us make a decision on whether or not we're able to lend to you. We'll then let you know the decision and what the status of your application is. The credit-reference agency we use is Equifax.

Credit scoring is a system used by us and most major banks and finance companies to make decisions on customer applications for borrowing, eg loans, overdrafts, credit cards and mortgages.

This involves calculating a rating, or credit score, from the information you give in your application, including your age, job and existing financial commitments. Checks are also made with credit reference agencies to see if they hold any additional information about you that may influence our decision.