I am considering investing in NZ. Thinking ahead, if I am borrowing funds from a NZ bank, do they access the same credit history file that the Australian banks have access to.
Specifically, would they put an enquiry against my credit history that would be visible here in Australia.
JamesmelbearMember@melbearJoin Date: 2003Post Count: 2,429
I think they might James.
When I was on hold waiting for Baycorp, they were saying something about now being able to access New Zealand financial records as well when assessing the borrowing history.
So I guess it won’t be on the same report as such, but the Aussie banks can certainly then see your NZ borrowings. Can only assume it will also work in reverse.
have a look round their website – it might tell you a bit more about it.
MelStuart WemyssMember@stuart-wemyssJoin Date: 2003Post Count: 598
Baycorp (NZ) and Credit Advantage (Aust) merged a couple of years ago so I would think that they can do a Aust credit check.
StuCastleDreamerParticipant@castledreamerJoin Date: 2003Post Count: 288
I recently sorted finance out with ANZ and Westpac in NZ. ANZ specifically requested a certified copy of my credit file. They stated that they do not have access to it, so require a copy from me.
I went to baycorp.com.au and ordered my credit file over the internet. I then had a JP certify it and gave it to ANZ NZ. No probs, no worries, I therefore assume that they don’t see it, and that they don’t apply against it or appear on it.
(You’ll never go wrong if you never go anywhere – have a go!”TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
When a credit check is done…does the bank actually see your entire credit history or do they just get a confirmation that no default or judgements have been made against you??
JamesStill in SchoolMember@still-in-schoolJoin Date: 2003Post Count: 1,844
they can see what has been listed and provided on your credit file for up to 5 years, bankruptcy will remain on your credit file for 7 years, but they can see exactly how big the loan application amount is, but they cannot see or tell if you have taken out that loan, but do be weary, if they do see a number of loans in a short period of time, it can trigger off there thinking and they can catch you to if you try to change a small spelling or symbol in your name spelling.
sisCastleDreamerParticipant@castledreamerJoin Date: 2003Post Count: 288
I once had an application for a car loan rejected by ANZ Aust because I had too many credit file application/checks!!! In other words, I had been busy investing making money to be able to do the things I wanted to, and ANZ thought I must have been doing to much!!!! If this happens to you, ask to get the copy of you file, and then calmly (irately with a smile!!!) explain what each enquiry on your file meant – I hate banks sometimes!!!
(You’ll never go wrong if you never go anywhere – have a go!”ginamarreeMember@ginamarreeJoin Date: 2003Post Count: 56
When I perform credit checks on people here in Oz I always do a NZ check if the person applying has been in Australia less than 12 months, as for NZ -I am not sure if vice versa applies?
When a check is performed, the financier can see how many defults, judgements, enquiries, cross references and possible matches you have.
Also bankrutcy & part 9’s ( debtors agreement) shows up and if you have defults it tells the financier if you have a paid defult, had a payment defult or if you have cleared out on the loan alltogether ( clearouts look really bad)[hmm].