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Positive credit register: Why was the landlord left out?

The positive credit register was introduced in April 2024 and has sparked much debate among real estate investors. Many landlords still hope that the register will solve the challenges of tenant selection by providing a transparent view of the applicant's finances. However, the reality is different. The register is designed as a tool for banks and lenders, and landlords are excluded from using it. What does this mean in practice, and how does the register affect an investor's own access to credit?

The landlord does not have access to the register. 

The law on positive credit registers is unambiguous:private landlords do not have the right to request information from the register when concluding a lease agreement. For data protection reasons, use of the register is strictly limited to lenders who assess the creditworthiness of applicants when granting new credit.   

This means that the landlord's "toolbox" has not changed. Checking credit information (payment default records) is still the best way to find out about a tenant's payment history. In addition, the landlord may request to see a certificate of enforcement or pay slip, but the tenant is not obliged to provide them. A positive credit history does not therefore eliminate the need for careful background checks and interviews.

Investor financing and the effects of the "second phase" 

Although investors cannot see tenant information, banks can see investor information in greater detail than before. When you apply for a new investment mortgage, the bank will check all your existing loans in the register: mortgages, consumer loans, credit cards, and installment payments. In addition, the register will retrieve your income information from the income register for the last 12 months.   

This has made banks more cautious. If an investor has a lot of unsecured consumer credit or if their income is irregular, this will be immediately apparent and may lead to the loan application being rejected.

A significant change will take placeon December 1, 2025, when the second phase of the register begins. At that point, lenders will also begin reportingloans grantedtonatural persons(sole proprietors)for business purposesto the register. This information will be available to banks from April 1, 2026. This is a major change for those investing under a business name. Previously, business loans may have been separate from personal finances in the bank's systems, but in the future they will be part of the overall picture. If your sole proprietorship has a lot of debt, it will directly affect your personal creditworthiness. Loans taken out by limited companies will still not be included in this register, which may further increase the popularity of investing through limited companies in this increasingly professional field.   

Payment delays are visible 

It is also worth remembering that the register will show if a loan payment is more than 60 days overdue. This is not an official payment default, but it is a serious warning sign for the bank. Investors must therefore ensure that all loan servicing costs are paid on time in order to maintain a "clean record."   

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