Changes to the information that mortgage lenders may access mean financial institutions can now investigate borrowers' credit card payment histories. Homebuyers making full or consistent repayments may gain an advantage when applying for a mortgage.
Before, mortgage lenders assessing your home loan application could only look at your total debt and whether you made repayments on time. There was no way for organizations to know whether you paid your credit card balances in full. This changed in September, with TransUnion and Equifax now providing "trending data" to lenders. A more detailed look at people's financial state is now available, which includes the amount they have paid towards any credit card debt.
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