Wednesday, January 23, 2008
Student loan to be put on credit file
The online mortgage company mform.co.uk warns that changes to credit checks carried out by mortgage lenders will mean that more first time buyers will be turned down for loans. Later this year, information relating to student loans will be incorporated into people's credit files. This means that missed payments to the student loan company will show up as a black mark on credit ratings. The average age of a first-time buyer is 29, and many of them will have student debts.