Central Credit Register going live on 30th September

Brendan Burgess

Founder
Messages
51,906
Central Bank of Ireland - UNRESTRICTED


18 September 2018


Central Credit Register – lenders must enquire from 30 September



  • All lenders considering consumer loan applications of €2000 or more will be obliged to enquire on the Central Credit Register for a credit report.
  • Credit reports are available free of charge for consumers.
  • Credit reports include information on credit cards, mortgages and overdrafts and personal loans since 30 June 2017.


From 30 September next all lenders considering loan applications of €2000 or more will be obliged to enquire on the Central Credit Register for a borrowers credit report. In addition lenders may obtain credit reports if borrowers have sought to restructure of a loan or are in arrears on any loan repayments, or are seeking a loan under €2,000.



Lenders have been submitting information on credit cards, mortgages overdrafts and personal loans to the Central Credit Register monthly since 30 June 2017. Credit reports are available free of charge for consumers (subject to fair usage), and will contain information on these types of loans.



Moneylenders and local authorities have been able to submit information to the Central Credit Register since March 2018 and may also now make enquiries. Information on hire purchase and Personal Contract Plans (PCPs) will be included once legislation has been amended.



The Central Bank is committed to serving the public interest by safeguarding monetary and financial stability and working to ensure that the financial system serves the needs of the economy and its customers over the long term. The Central Bank uses the Register to get better insights into the overall level and patterns of lending in the economy.


Information on lending to businesses has been submitted to the CCR since 30 March 2018. Business loans will be included on credit reports once data quality can be assured.



Read our consumer explainer and infographic at https://centralbank.ie/consumer-hub/explainers/what-is-central-credit-register



Further information www.centralcreditregister.ie



Nicola Faulkner, Media Relations Manager - +353 87 6727203 or [email protected]


Notes to Editor

The Central Credit Register is a database of personal and credit information established by the Bank under the Credit Reporting Act 2013.
 
Yes, ICB still exists, and will continue to be used until a full history is built up on CCR.
 
Hi , I have a question about the new credit register, having read the t&c’s on their website I still can find any information regarding aged debt,

Ie can a creditor from 04/05/06 register old debts?

Any help / information appreciated.

DMan
 
I was talking to 2 ladies from the Central Credit Register at the ploughing championships. The report is free for the customer and includes everything that's on the ICB report as far as I can tell.
 
Maybe someone will know the answer to this -
I requested a report from the CCR on Jan 16th. I received the report today.

It shows that I currently have two mortgages (UB and KBC).
I closed the KBC mortgage in mid December. Would it take this length of time for the CCR to be updated?

I have a letter from KBC stating that I redeemed the mortgage. Should I send it on the CCR to have them remove the mortgage from KBC?

Cheers.
 
Yes. It's not a real time update, only updates are sent monthly.
Have you received a closing statement of your account from KBC?
They sent a letter dated December 14th informing me they received funds to close the mortgage on December 3rd.
 
@HollowKnight
Receiving the funds, and processing the account closure are different things.
I'm not familiar with KBC processing, but it took AIB over 6 weeks to close my account. Partially my fault as the redemption figure did not exactly match the funds that were transferred.

Contact KBC and ask why your CCR hasn't been updated to closed yet.
 
Back
Top