Don’t just rate their looks, rate their credit score advises Noddle

NoddleProvided by Callcredit Information Group, Noddle, the free for life credit report service, is advising those looking for love this Valentine's Day to also consider their financial position as a partner's poor credit history could damage chances of building a solid financial future together, especially as many of us look for love online.

Almost seven million people from Callcredit's Define database of 53 million UK adults date online with, 38 per cent of Southerners, 26 per cent of Northerners, 17 per cent of Midlanders, seven per cent of Scots, six per cent of Welsh people, four per cent of people in East Anglia and two per cent of people in Ireland registered with online dating agencies. 

Tom Ilube, founder of Noddle said: "Our figures show that singles in the South are much more open to online dating then their Northern counterparts and with millions of people now looking for love on the internet, it's clear that lots of single people hope to find their valentine online this year.

"The important thing that they need to be aware of is not just if their potential partner is ten out of ten in the looks and personality department but do they have a good credit score?  Thinking of your financial future is important and at some point you may want to pool your resources with your partner.  In many cases this can make sense, but for some, it may be more sensible to keep your finances separate, particularly if one partner has a poor credit history.  I'd urge all couples to check their reports before deciding whether to apply for a joint loan, mortgage or bank account together". 

In 2006 just 2.6million* Britons paid to use online dating services but with almost seven million people using the services in 2013 with any stigma attached to joining dating agencies clearly disappearing.

Tom concluded: "Another factor couples need to consider are financial connections from previous joint accounts. The credit history of all financial connections such as a spouse or anyone else you have a joint bank account or loan could affect the chance of getting future finance.  Lenders may take both partners' financial histories into account when assessing future requests for credit.  So if you are divorced or separated make sure your ex's details are removed from any joint accounts as soon as possible."

All figures, unless otherwise stated, are from Callcredit's Define database.