buying a house?

Question

im thinking of moving house. so can i check
the credit report on the property that i plan to buy.
if the people selling have a bad credit report could
this effect me if buy this property.

Answer 1

Property doesn't have credit reports, people do.

You have no right of access to the seller's credit report. It's not material to the transaction and is quite simply none of your business.

Only YOUR credit report matters, and only if you need to take out a loan to buy the property.

Answer 2

In the UK it is people who have a credit reports not houses. Houses cannot go out and buy cars on credit or get bank loans etc....
Why would someone else's credit history impact on you buying house?

Answer 3

Personal credit answered above.

However, as part of your legal enquiries a search will be made on the property. This will show if there are any problems with ownership, any third party charges or third party rights.

This should hopefully cover any doubts you have.

Answer 4

Sorry I disagree with the answers above. Previous owners bad credit can affect yours. It shouldn't but it does. You may be able to clear things up by getting a copy of your own history using the address (credit reference agencies must provide it by law, charge £1) and then requesting them to make suitable ammendment to the record.


Similarly if you live in a road with several bad payers in it youyr credid could be affected or you won't get most favourable rates of interest

Answer 5

no, the sellers credit has nothing to do with the sale of the house.

UNLESS.. they are being foreclosed on. then you can always get a better deal. But I dont see how you can check their indivdual credit reports anyway. You dont have acess to that information.. its private.

Answer 6

No their bad credit will have no impact on you, its against the name not the house.

Answer 7

no dont think so