Help. Financial Association.

Tjrw1985

Hoping someone can help us here.

My partner is applying for a mortgage in her sole name, as my credit rating is not great (all now thankfully paid off).

Upon checking her credit file, there is a financial association with me, due to a savings account we opened. As this is not a credit account, is this going to be easy to remove.

Also, will this affect the mortgage app as the association is dated April 2012, but no updates since and no record of the account on her credit file, or mine.

Thanks

Dave_Ham

Likely to be ok, the bigger barriers are typically around deposit and ongoing interest in this situation.

Are you sure you cannot get onto the mortgage. Your definition of bad may be different to mine and/or lenders..

Tjrw1985

Defaults within the last 12 months, so best I stay off initially.

Dave_Ham

Ok, agreed.

Definitely be very careful around the deposit issue..

Good luck

Tjrw1985

We have a 10% deposit and our Mortgage advisor has said this should be fine. Just wanted to know if we needed to get the association off.

We have contacted the credit reference agencies and asked them to remove it.

Should the association be there anyway as it was never a credit account opened. It was just a savings account.

Dave_Ham

Should not really be there, but hugely unlikely to cause you an issue.

Thrugelmir

Tjrw1985 wrote: »

We have a 10% deposit and our Mortgage advisor has said this should be fine. Just wanted to know if we needed to get the association off.

.

You'll need to declare the fact that your partner will be occupying the property as well.

Tjrw1985

We will be declaring 2 adults in the property and our financial advisor has advised this affects the amount we can borrow. As my income does not get taken into account at all which is a shame.