Will partners poor credit effect mine?

magicaim

My partner and I are planning on opening a joint bank account for our savings towards a deposit for a mortgage however, my partners previously had a poor credit rating (which is slowly improving).

We live together but currently have separate bank accounts. Will opening a joint savings account affect my good credit rating, and therefore impact on our chances of getting a mortgage?

Does anyone have any advise on the smartest way to manage this situation.

skintdad

a joint savings account won't. a joint current account or joint mortgage would

JohalaReewi

A joint savings account shouldn't (there is no credit agreement) but you never know these days. I have had a 'joint search' create a financial link in the past.

If you do regular checks on your credit history, you will be able to spot if this happens and ask for it to be removed.

sparkley84

As the others have said, you should be fine with a joint savings account. Hopefully the longer you save for, the more your partner's credit history can improve, so that when you do get a mortgage together you should be in a better position :-)