Credit Check

by | May 22, 2023

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Every prospective applicant will need to undergo a credit check, this is to determine the credit worthiness of that applicant and confirm the address supplied by the applicant if a UK resident. To run this credit check we need your name, date of birth and previous address. 

At lofti we run soft credit checks that are powered by Experian, which has no effect on your credit rating. They search for the applicant’s credit repayment history, whether there is any adverse credit past or present against the applicant and to find the previous residential history of the applicant. 

What is adverse credit? 

Adverse credit can come in many forms, the soft credit check picks up on: 

  • CCJ’s (Country Court Judgements) / Court Decrees 
  • Bankruptcy 
  • Debt Relief Order 
  • Individual Voluntary Arrangement 

If you do have any of these forms of adverse credit it is important to state that in an email to reference@lofti.co .

Failure to declare any form of current or historic (active or satisfied) adverse credit could lead to a failure in your reference.

What is a Soft Credit Check? 

A soft credit check is a look at certain information on your credit report without conducting a full examination of your credit history.

This check is only visible to the company requesting the check and does not stay on your record so no other company can see it.

Most importantly, since a soft credit check is not compared against any product it can not be failed and just produces a reflection of your credit history. To find out more head over to our credit check supplier Experian.