Loan advice - Partner with adverse rating

Hitme

Has anybody had a load approved fairly recently at a good rate where they have what would appear to be a good credit rating but someone who is financially linked to them has a unsettled default?

Having applied to my bank, Nationwide, and been declined despite the soft search offering me the lowest 6.3% rate it would appear that an unsettled default on my partners record from over 4 years ago is the reason. Other than the default my partners history is good, a previous loan was paid off about three years ago and there is a current loan where there has been about 18 payments made all on time. The default itself is not being maintained as it is being paid back but this isn't being recorded but as this is in effect free of interest there has been go great incentive (until now) to pay it off any quicker.

So before I blow another search (this will be only the second one in the last 5 years for me) has anybody successfully applied for a loan in a similar situation and which lender did you use.

Thanks.

BugsyBrowne

As your financially linked to someone who has a default this will effect you whatever way you look at it.
Nationwide showed your good for the loan until they done the full search and found that nasty on your partners.

If you seriously need a loan get in contact with the CRA's and ask to remove the financial link.

Joeler

Is the default showing on both his credit files from experian and equifax? If not (unlikely but worth a look) try applying with a company that will only search the agency where the default isnt, google "credit reference agencies who uses who" and there should be links to a list on here.

There was a chance that your own bank would not do a full search, but you could always appeal the decision, this takes time though...

Hitme

Joeler wrote: »

Is the default showing on both his credit files from experian and equifax? If not (unlikely but worth a look) try applying with a company that will only search the agency where the default isnt, google "credit reference agencies who uses who" and there should be links to a list on here.

There was a chance that your own bank would not do a full search, but you could always appeal the decision, this takes time though...

It's on experian and equifax but not on Call Credit (for what that's worth!)
Could appeal but would that get me anywhere? Time doesn't really matter so I could do this anyway, are there any repercussions? How long are we talking about?

Are Credit Card applications as tightly checked as loans? Just another option I could explore having read some of the threads on borrowing on here.

I guess what I really need is somebody who checks Equifax next time so I only get myself a single search against each agency.

Hitme

Any other suggestions before I try one last application?

Sainsburys or Tescos? Anybody else better?