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BM urges free credit-check

BM Solutions wants the mortgage market to follow Asda’s example of paying for rejected applicants to check their credit history.

The HBOS-owned lender claims the move could help generate customer loyalty and help the fight against identity theft and fraud, as customers can view all mortgage, loan and credit card applications made in their name.

Brokers believe that any initiative in the intermediary market could only be carried out by packagers at present because of Data Protection Act restrictions.

BM Solutions spokeswoman Carla Lavender says: “It is important for providers to encourage people to keep an active look at their credit history. Credit is an important issue for our customers, particularly in the sub-prime market. Brokers could put literature together and they could show it to clients.”

John Charcol technical director Ray Boulger says: “If we could do it we would but lenders are not allowed to tell us clients’ credit details.”

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