Retention of Information
Credit information will build up over time until five years of information is shown on the credit report that is provided to you.
For an active loan (one where payments are still be made, or are expected to be made, by a lender), a lender will see the most recent two years of payment information on the credit report provided to them.
If you pay off a loan, or if your loan is closed off by your lender, it is deemed a closed loan. For a loan closed after 30 June 2017, a lender will see the final two years of payment information.
When the oldest information reaches five years old, each separate entry will be deleted month by month thereafter. The closed loan information will be completely removed from the credit report five years after the last payment was made.
For example, if you pay off a loan in January 2020, the lender will see information back to January 2018. They will continue to see this information until Jan 2023, when the oldest information (i.e. the information as at January 2018) begins to delete on a monthly basis. The entire record will have been deleted by January 2025.
Your personal information is be held on the CCR for a period of five years from the date the last loan was paid off.
The Central Credit Register has been implemented on a phased basis, and started with consumer loans such as credit cards, mortgages, overdrafts and personal loans on 30 June 2017. Information has been submitted on a monthly basis since then.
Since 31 March 2018 moneylender loans, local authority loans and business loans have been included on the Central Credit Register.
Since 30 June 2019 information on hire purchase, personal contract plans (PCPs) and asset finance will be included on the Central Credit Register.
This snapshot submitted each month includes information such as of number of overdue payments if any, and amount outstanding.
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