As a responsible lender we are committed to ensuring that our customers can afford the products that we offer. To do this we complete an affordability assessment, which includes a credit search that will leave a record on your credit file.
When we provide a quote, we do a 'soft search' of your credit report. This gives us a snapshot of your key information without affecting your credit score or leaving a credit footprint for other lenders to see.
If you decide to purchase your insurance, and apply for credit through paying by our insurance premium finance instalment facilities, we will give details of your account and how you conduct it to our credit reference agency. This will leave a record on your credit file converting the ‘soft search’ in to what is known as a ‘hard search’, meaning it will be visible to other lenders and could affect you if you apply for credit in future.
If you borrow and do not repay in full and on time, we may cancel your insurance and your insurance finance. We will inform our credit reference agency who will record the cancellation of the credit agreement.