Removing a connection

Morrow1984

Hi,

I have recently (after a separation) started to take more of a interest in my finances and my credit profile. Mainly to put myself in the best possible position for the future.

I have signed up with Noddle to check out my credit file and score. I noticed on my file that i have a connection to my ex as we have a joint mortgage on the property that i currently live in. This is ofc expect, but my concern is that my ex is very bad with money and I'm worried that my association with her is damaging my credit score. My score is pretty low, less that 600. I have a settled default from 2008 (joint account) that will drop off soon and one late payment currently showing on a credit card due to being out of work (now corrected and back on track!) that will update next month.

I've looked into transferring the mortgage and at current i don't have the spare money for the solicitors fee's involved, or even the £150 that my mortgage company to conduct a review (bloody Christmas), I'd also like to get my credit file looking a bit healthier before i ask them to do this as no doubt it will be a factor.

Looking at Noddles 'tips' it says the following:

If you’re linked with an ex-partner who you don’t have joint loans with anymore you can ask Noddle to remove the financial link. In some circumstances, if you’ve split up and live at separate addresses, the link can be removed even if the mortgage is in both your names.

My question is, if i get this done successfully, do i then need to contact the other 2 credit file companies and have them correct it as well or do they share information like this?

On a similar note, will the fact that she used to be registered at this address affect my score? I.E, if a debt was in her name but when she lived here with me? I guess that would be association by address which is not supposed to happen anymore?

Thanks for your time.

lixandra

Once your joint mortgage account is closed (switched to sole), and any other joint bank accounts are closed, you can contact all 3 credit agencies and ask for the financial association to be removed from your file. They all have forms you can fill out, just google 'financial disassociation form'.

It doesn't affect you if your ex will be linked to your address, your credit rating is only affected by what's on your own reports.

Tixy

Yes you need to contact each agency individually.

Both callcredit and experian do state it is sometimes possible to file a notice of disassociation even if you still have a joint mortgage (but no other joint accounts).

Individual cases vary but you will likely need to prove more evidence that you are not associated aside from the mortgage than people who have no existing joint accounts

I don't know whether equifax ever agree to a disassociation when there is still a joint mortgage.

Once you are disassociated then your ability to get credit would no longer be affected by anything else on her credit file.

Morrow1984

Thanks for the replies, i think i will leave it until i can sort out the mortgage as a whole and then (after a couple of months) make sure my connection is removed from all 3.

Estateprincess

Tixy wrote: »

I don't know whether equifax ever agree to a disassociation when there is still a joint mortgage.
QUOTE]

I can confirm that Equifax did eventually agree to a disassociation with my Ex on my file.
It took longer than the other two and, at first they did say no, so I sent copies of the letters from Experian and Noddle to say that they had disassociated us and eventually Equifax did too. However, neither of us lives at the property where the mortgage is (as we are renting it out until we can sell it) and we have had no other joint accounts since we split up (4/5 years ago) so it was the only link and it is fairly obvious that our finances are completely separate which could have been what convinced them?


Interestingly, Equifax does not show a link with my OH with whom I currently have a joint account and have done for just over 3 years! :cool: