Guarantees Reportable To Central Credit Register

Under the Credit Reporting Act, from 1 February 2025, lenders of in-scope credit will be required to report data in relation to both the guarantee and the guarantor.

Guarantees Reportable to Central Credit Register

As noted on the Central Credit Register ("CCR") page¹, the next phase of reporting under the Credit Reporting Act is about to begin. Where a reportable credit agreement is entered on or after 1 February 2025, and a guarantee is entered into in respect of that credit agreement on or after 1 February 2025, the relevant Credit Information Provider (the "lender") will be required to report data in relation to both the guarantee and the guarantor from that date onwards. This applies to 'all sums due' guarantees, as well as to more limited guarantees.