One of the largest credit agencies in Ireland is the Irish Credit Bureau. This Bureau was founded in 1965 and it is no state. Irish Credit Bureau is financed by its members. It is electronic library with information on the performance of credit agreements between financial institutions
Some lending institutions register information with the ICB. When you apply for credit from one of these lenders, the lender accesses your credit file to find out about your performance under previous credit agreements with other lenders.
ICB records information and then, when required provides it to lenders.
Information about a loan is kept on the ICB database for the full term of the loan whether this is a 3-year personal loan 15-year mortgage or a 30-year mortgage.
When loan is termniated it will be stored in the ICB Database for 5 years from that date.
Unlike the traditional Irish banks, some lenders will consider offering mortgages even if you have a bad credit record with the Irish Credit Bureau you will have the opportunity to remortgage.
If you are planning to have mortgage and want to avoid problems figure mortgage thouroughly and calculate mortgage interest. Online devices will help you to do this.
