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It’s helpful to know what’s on your credit record before applying for a home loan. Here’s the low-down on how to request one, and what to look for.

What’s in my record?

A credit record includes the payment history for any loans and credit such as:

  • Credit cards
  • Home loans
  • Car finance
  • Hire purchases

Payment history for utilities including electricity, gas and phone accounts might also be listed on a credit record.

How do I check my own credit record and get my credit score?

It’s free to get a copy of your credit record from any of the three credit reporting companies in New Zealand (their links are below), but if you need the information quickly, you might have to pay for it.

What if my credit record is wrong?

If your record is wrong, it might stop you getting credit, so check it carefully for incorrect information such as:

  • Credit accounts you never applied for
  • Payment defaults you didn’t know about, or
  • Credit enquiries you never approved.

You’re entitled to ask credit reporting companies to correct your information. Each company has their own procedure for doing this so have a look at their website for more details.

How does bankruptcy affect my ability to borrow?

Any insolvency procedure affects your credit rating and your ability to find a bank or other lender willing to lend you money. If you have joint assets, your partner might be impacted, and it may also limit your ability to find landlords who’ll rent to you.

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