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    What is the positive credit register in Finland?

    Why lenders now see your existing loans before they lend.

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    Short answer

    The positive credit register collects information on private persons' loans and incomes. It is maintained by the Incomes Register Unit of the Finnish Tax Administration and was taken into use for consumer credit on 1 April 2024. Lenders use it to assess whether a borrower can repay. The aim is to prevent over-indebtedness. You can view your own data in the register's online service.

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    Why

    1. The Tax Administration says the register collects data on loans and incomes.
    2. Edilex notes that the register was taken into use for consumer credit on 1 April 2024.
    3. Verkkouutiset reports that the register was set up to prevent over-indebtedness.

    Details

    Lenders report consumer loans, such as mortgages, student loans and credit card balances. Income data comes from the Incomes Register.

    Tip

    Check your own data in the register before applying for a loan, so you can correct mistakes.

    What may differ

    The register is being expanded in stages, so the data it covers can change.

    Common misconception

    The positive credit register only lists people with payment defaults.

    What actually happens

    It lists everyone's loans and incomes, not only payment problems.

    People also ask

    • Can you set a voluntary credit ban in Finland?
    • What is the maximum interest rate on consumer loans?
    • Who pays if my card is used without permission?

    Sources

    This answer is for reference only. Banks set their own terms, so check the details with the bank before you act.

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