How much of an impact does financial associate have on mortgage application?

nkew

I have been declined by my lender for a new mortgage despite 7 years of consistent payment, a good credit report of 997/1000 on Experian and 500/600 on Equifax.

The reason for decline was 'adverse credit on file'.

Is it possible that this could this relate to a financial associate or are there items which don't show on my credit report?

My partner (who doesn't have great history with the bank I'm applying to) is incorrectly listed on my report after we applied for a joint account but were refused it.

I have written to Equifax to have this taken off but they have been very slow to respond to removing the association.

I don't want to ruin my good credit history and wondered if anybody had any advice on how to proceed? I submitted an appeal to my bank and still received a no... I'm not sure if this was possibly submitted too soon as the associate is not yet off my account.

kingstreet

Get all credit files from the three CRAs. Check what's there.

An application for a joint account creates an association, by way of the search. You need to get disassociation forms to sever one, if there's one there.

Stop thinking these CRA "scores" are worthwhile. They aren't. Certainly not worth paying for.

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Dave_Ham

Depends upon who the lender is...

nkew

Thanks for the tips. The lender is RBS.

I have all three reports and have everything up to date for the past 6 years with nothing worst than a 1 month in arrears prior to this (2005/6) which was probably due to not setting up a DD on a card.

Dave_Ham

There must be something more on one of the credit file reports, as that is a pretty specific decline reason.

I would almost certainly be able to tell looking at the credit files and I seriously doubt they would say adverse based upon an associate.

Was the details definitely keyed appropriately? You may need to check this with advisor or broker...

RBS group do make some weird and wonderful decisions at times though...

nkew

Dave - there is nothing else on file. Green all the way on payments for the past 6 years. Everything is fully up to date.

The only thing I can think of is that my incorrectly listed financial associate's issues were related to an RBS account.

You mentioned it'd be unlikely that they'd decline with this reason on this basis but I can't see any other reason.

Dave_Ham

They have not been logical with their decisions for the past year/ 18 months.

I would push them for a more specific answer, as typically they would not have given this reason without justification.

Are you hell bent on using them for a specific reason, as sure other lenders would be happy with the details you have confirmed so far.

kingstreet

Same question here. Why RBS?

One Account?