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Joint mortgage - Both credit checked?
stones89
Posts: 1 Newbie
Hi,
A friend and I are thinking of buying a house together in the next year or so. I have checked my credit rating and it turns out I have a default from 2011 which I was completely unaware of! I think it may be a mistake, so I am contacting the lender to see what happened and see if I can have it removed, but this means my credit rating is poor.
Between the two of us, I have the higher salary and she has the better credit rating. If we went to a bank, would they be checking both of our credit histories or could we get away with using just hers?
Thanks in advance for any info.
A friend and I are thinking of buying a house together in the next year or so. I have checked my credit rating and it turns out I have a default from 2011 which I was completely unaware of! I think it may be a mistake, so I am contacting the lender to see what happened and see if I can have it removed, but this means my credit rating is poor.
Between the two of us, I have the higher salary and she has the better credit rating. If we went to a bank, would they be checking both of our credit histories or could we get away with using just hers?
Thanks in advance for any info.
0
Comments
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They check credit history, address history, income, employment etc for all applicants to the mortgage.
If the deposit is good and the default small and over two years ago, it may not be a problem.
Establish which version(s) of your credit file the default shows up on. Let a broker guide you from there.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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