My loan application having effect on partners?

DaveTheTriffids

I have an average credit score at the moment and have been looking to sort out an unsecured consolidation loan. My wife (who, annoyingly (!), has an excellent credit record) has also been looking for a small loan for herself for another purpose. I'm worried that when it comes to the credit check on her loan application, my less-than-great credit score will harm her chances of her getting a loan.
Would this be the case? If she is getting a personal unsecured loan in her name only, would my credit score affect her chances?

Thanks in advance!

Tixy

Depends on if you are financially associated on your credit files.

Do you have any joint credit accounts? mortgage, loans, bank account with overdraft etc.

If you are financially associated then yes when she applies for credit the potential lender will also see your file as well as hers (not the scores - nobody ever sees them).

How much that will concern them will depend on the individual lender, on what exactly is on your credit file in terms of adverse data, on how much she is looking to borrow etc.

If you have no joint accounts and never have had then you won't be financially associated just as a result of being married.

DaveTheTriffids

Hi, thanks for that. We just have a joint mortgage (no defaults or any issues with this) and no joint accounts or loans.

CLAPTON

a joint loan with form a financial association
but why not check your credit records and see what they say
why is your credti record average (whatever that means )?

Tixy

So with a joint mortgage you are financially associated.

So anything adverse on your credit file could affect her ability to get credit - not just adverse things on the joint mortgage.