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Posted on: 18.Sep.2020, 11:03 AM

Group: Members
Posts: 1
Joined: 18.Sep.2020
Member No.: 210,099

I don't know if you've already found an answer to your question but I'll try and elaborate on the topic of UC as good as i can.

UC is short for Upplysningscentralen, which is Swedens largest credit information company.

In Sweden, it's mandatory by law to audit the credit score of an applicant before approving a loan.

When you apply for a mortgage loan, or a larger private loan (generally > 100 k SEK), chances are good the bank will use UC to check your credit score.

Every request sent to UC (over the last twelve months, if i remember correctly), as well as all prior loans that was approved using UC, is in the UC database.

A possible issue, is that this information may negatively impact the credit score of the applicant for future loans, and may cause either rejection of the application, or a significantly higher interest rate, to compensate for the increased risk associated with a client having multiple simultaneous loans.

In order to better ones credit score with UC, alternative credit-score auditing companies have been established. The most popular ones are Bisnode, Creditsafe and Safenode.

Loans where the credit score of the applicant has been audited by one of these companies are commonly known as l?n utan uc which translates to "loans without UC".

By choosing one of the non-UC lenders, this information is hidden from UC, which may not be a bad idea if one considers for example applying for a house loan in the near future.

I hope that brought some clarity concerning the UC confusion.

There are several loan mediators on the Swedish market as well, although they all use UC. The pro is they will only require one look-up, and then forward the information to several lenders, thus minimizing the possible harm multiple lookups would have on your credit score. The most popular loan mediator is Lendo.
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