Hire Purchase

[foodluva]

Do hire purchase agreements show up on a credit profile? Car dealer says no and that it therefore doesn't need declared on a mortgage application but financial advisor says yes. I can't see any evidence of my HP agreement on my credit profile so who is right???

[Zacs-Master]

According to this, yes.
http://www.theguardian.com/money/2008/mar/23/creditcards.debt

[Buenchico]

A mortgage application requires that you fully divulge all of your regular financial commitments (which would include any HP repayments). It's irrelevant as to whether such an agreement shows up on a credit reference check or not; failure to disclose it would be a criminal offence under Section 3 of the Fraud Act 2006.

[Postdog]

I read this and I couldn't believe you had to ask when the choice was a CAR DEALER trying to sell you a car and a financial advisor. Just saying.

[ToraToraTora]

Yes they do show up, it's a credit agreement.However what shows up is not related to your declaration on a mortgage application, just ask Peter Mandelson.

[Thunderchild]

err, trust the financial adviser and if it's counting as money your spending then hell yes the mortgage provider wants to know.

[boxtops]

Yes, absolutely - it's a credit arrangement and therefore affects your credit score.