Partners credit rating affecting mine?

rollins_2

Hi,

I am planning on taking out a £12,000 loan in the next few months and am concerned that my partners credit rating may affect mine as we are linked through a mortgage and a joint loan. My partner has been refused credit over the last few months for credit cards (to take advantage of 0% interest for balance transfers) and I was wondering what impact this will have on my request for credit. My partner has never missed any payments and can easily afford to repay the outstanding debt so the rating shouldn't be too bad but yet credit has been refused which is not good - will this adversely affect my rating as well?

Thanks,


[FONT=&quot]Ron[/FONT]

Beast

You're right - as you're financially linked, your partner's credit rating will be taken into account and any negative factors used as part of the decision.

Jane81

Hi,
I work in mortgages and see other people's credit ratings every day. Your partner's credit rating will affect yours, but if she does not actually have any adverse information (eg missed payments, defaults etc) it shouldn't have a huge effect, although will make a difference.
I have agreed mortgages for people whose partners have had missed payments, as unless they are in serious financial distress it will probably not have a big effect on the person who is taking out the mortgage.
It would be a good idea for your partner to check out her file to see what has changed and if there is an error. Also, as the number of searches you have had carried out by potential creditors can affect your score it's probably for the best if neither of you attempt any applications until you know the situation a bit better.