Information for private individuals
You can view your own loan information
The Positive credit register is scheduled to be rolled out on 1 April 2024. The register’s e-service for private individuals will be launched on the same date.
In the e-service, you can view your own loan information. You can also set a voluntary ban on credits there. In addition, the e-service allows you to check which lenders have requested your information from the register.
You will be able to log in to the Positive credit register's e-service through the Suomi.fi e-identification service. You can use the Positive credit register on behalf of another individual if you have the appropriate Suomi.fi authorisation.
Lenders will have to submit reports on the loans to the register
Lenders will report all existing consumer credits to the register in spring 2024. When the register is in place, the lenders will report new consumer credits almost in real time. The registered information will include private individuals’ home loans, vehicle loans, consumption loans, credit cards, student loans, hire-purchase credits, etc.
In addition to new loans, amortizations will also be reported to the register. The information will usually be available in the Positive credit register within 2 calendar days after a new loan contract or an amortization payment has been made. The register will also receive information when a loan expires.
Income details from the Incomes Register
The Positive credit register receives information about the wages, pensions and benefits paid to an individual from the Incomes Register. However, the Incomes Register does not contain information about the individual's rental income, business income or other capital income.
Only a basic amount of information about the private individual's income is saved in the Positive credit register. If you want to view your income details more closely, log in to the Incomes Register’s e-service.
Credit information is used for testing creditworthiness
Starting 1 April 2024, lenders must check the information about the loan applicant available in the Positive credit register before making a loan decision. For this purpose, the lender requests a credit register extract.
Credit register extracts may be requested only in limited situations:
- a private individual is applying for a new loan
- a private individual is applying for a change to an existing loan contract and the change requires that the applicant’s creditworthiness should be tested
- a private individual intends to guarantee another person’s loan.
Lenders utilise the information to test the loan applicant’s creditworthiness. The credit register extract gives the lenders a real-time view of the person’s income and debts.
The Positive credit register does not make a decision on the loan nor test the applicant’s creditworthiness. The register provides the information for the lender, and the lender then makes the decisions in accordance with its own criteria. The reasons why a loan application is rejected are not saved in the Positive credit register, and it is also not possible to cancel a loan application or make changes to a loan contract in the register. Such things must be discussed and agreed on with the lender.
In the Positive credit register’s e-service, you can check what information about your loans the lenders have submitted to the register.
Information may be used only for purposes prescribed by law
The Finnish act on the Positive credit register (in Finnish) will contain detailed provisions specifying the purposes for which the lenders can use the credit information.
Accordingly, the lenders will be under obligation to check the loan applicant’s information in the register, which also means that the applicant cannot prevent them from doing so.
However, in the register’s e-service you can check which lenders have requested your information, and when and why. Further, the requests for information will be controlled, and every request for a credit register extract will leave a trace in the log.
Voluntary ban on credits
You can set a voluntary ban on credits in the e-service. You can set the ban starting 1 April 2024, and it does not cost you anything.
If you set a voluntary ban on credits, any lender organisation that requests a credit information extract on you will be notified that you have the ban on credits. With your permission, the register can also give information on the ban on credits to credit information companies, i.e. companies that provide credit information services on a commercial basis. You are recommended to give the permission. In this way, as many lenders as possible will receive information about your voluntary ban on credits.
You can set a voluntary ban on credits either for the time being or for a fixed period. To indicate a reason for the voluntary ban, the e-service prompts you to select one of the following options:
- Risk of identity theft
- Control of personal finances
- Other reason.
The ban on credits does not prevent you from obtaining a loan. However, the lenders will have to consider the grant of the loan even more carefully than usual. The ban on credits serves as a safeguard if your personal information has been stolen and someone is trying to apply for a loan using your identity. In addition, it is a tool that you can use for controlling your personal finances.
You can lift the ban at any time.
Read more: the Terminologies pages
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