If you fall behind with your mortgage repayments, by law we must report this to the Central Credit Register (CCR). We will also report it to another credit reference agency if appropriate. The report would show the number of payments you had missed. If we repossess your property, we must report this to the CCR. We also report it to another credit reference agency if appropriate. If we change (restructure) the terms of your mortgage to help you manage or avoid arrears or other financial difficulty, we must report this to the CCR as a ‘restructure event’. We would also report this to another credit reference agency if appropriate. Generally, we do not give you notice before we make a report to the CCR or any other credit reference agency. Banks and other financial institutions have access to reports of arrears, repossessions, restructure events and arrangements to deal with arrears. This could have a negative effect on your credit rating, making it more difficult for you to borrow from us or other lenders in the future. For example, you may have difficulty getting a loan or other credit.
