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Joint mortgage - does one persons credit effect the others?
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Johncm
Posts: 1 Newbie
Hi, I currently have a buy to let mortgage with a friend in joint names.
My friend has been trying to buy another property in their sole name but has had multiple rejections. He has had three but one is being appealed with a provider. One if the reasons he has had issues with the latest applications is due to the first two showing on his file.
Will these rejections, along with any other rejections for credit, such as credit cards etc cause me any problems?
I am wondering as I imagine that because there is an association between us financially, our credit scores may be linked somehow?
My friend has been trying to buy another property in their sole name but has had multiple rejections. He has had three but one is being appealed with a provider. One if the reasons he has had issues with the latest applications is due to the first two showing on his file.
Will these rejections, along with any other rejections for credit, such as credit cards etc cause me any problems?
I am wondering as I imagine that because there is an association between us financially, our credit scores may be linked somehow?
0
Comments
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You should both obtain your credit files from all three CRAs and find out exactly what's on them. You will be associated by the joint mortgage and your friend should stop running around having credit checks done until he knows what the problem is;-
Equifax
https://www.econsumer.equifax.co.uk/consumer/uk/gb_consumerletter.ehtml
Experian
https://secure.wiseconsumer.uk.experian.com/wiseconsumer/secure_index.html?data=00
CallCredit
https://www.callcredit.co.uk/stat-report-online/index.php?action=register_display&tpl=regPurchaseI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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