Why do I have a hard credit check on my file after applying for a loan?

When you apply for a loan with us, we carry out a hard credit search as part of our application review. This is a standard part of the lending process and is something you consent to when you submit your application.

What a hard search is for

A hard credit search allows us to view your full credit history so we can verify your identity, check if the loan is affordable for you, and make a responsible lending decision. It’s recorded on your credit file and is visible to other lenders.

How it affects your credit score

A single hard search typically has a small, temporary impact on your credit score. Its effect reduces over time, and it will be removed from your credit file automatically after 12 months. However, several hard searches in a short space of time can have a bigger impact, which is why we recommend spacing out credit applications where possible.

You should only see one hard search per loan application. If you can see a search you don't recognise, or believe one has been recorded in error, please contact our team straight away. You can call us on 020 3818 7470 or email us at thecrew@moneyboat.co.uk. We’re here to help 8am to 7pm Monday to Friday (excl. Bank Holidays). If a search has been recorded incorrectly, we will ask the credit reference agencies to remove it from your file.