Your Facebook friends could be dragging your credit rating down and making it more difficult for you to get a mortgage. A growing practice amongst lenders is to look at your social media profile to judge your character and make judgements about whether to lend.
Having pictures of yourself out boozing in fancy dress is never a great idea on social media, but it could impact finances too. Banks may choose not to lend to you because of this disreputable and financially uncertain image.
However, some banks are digging deeper than this. There is an assumption that credit-worthy individuals bunch together and those prone to debt do the same. This means that your friends’ credit ratings could affect your borrowing. If your Facebook top six are all in debt, then the bank is likely to assume that you soon will be too.
Lenddo is one bank that openly uses this practice to gauge the responsibility of individuals, but it is far from being the only lender to consider social media before lending.
Source: http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/10268408/Your-Facebook-friends-could-damage-your-credit-rating.html
