Protecting Wife's Credit Rating

Roebuck_2

Hi Guys,

Just a quick question please....

BR is looking like an increasingly unavoidable prospect for me, and approaching rapidly.

All debts are mine solely. My wife and I have no joint accounts or loans, etc...

We do however, have a joint mortgage which is fully up to date with no missed payments. We intend to keep on paying the mortgage.

When I go BR, will the joint mortgage have a negative impact on my wife's credit file?

Thanks in advance.

sniggings

Yes as you share a link. Your file is to give an overall picture.

Roebuck_2

Thanks Sniggings,

Not good news.

How badly would this affect her ability to obtain finance in the next year or two?

She has a small car and usually just finances a new one every three years...would my BR be likely to prevent her obtaining finance? Her credit file is perfect at the moment.

sniggings

sorry it's impossible to answer as each creditor will have a set list of what they are looking for before they offer credit, the credit score or points you hear mentioned is rubbish as the creditors do not work like that.

But my guess is she still will be able to get credit, it may just mean her having to shop around a bit more, it shouldn't affect her as much as you.

Just make should you follow the credit clean up sticky at the top of the page after BR, all helps.

dancingfairy

Have you checked the situation with regards to equity in the house and whether the OR will be interested in it?
df