partner has default can we get a joint mortgage

vickya1983

Me and my partner are looking to buy a house together. He has sold his place but noticed on his credit file that there was a default on there from last year. He moved addresses and told the company his new address but they didnt up date it so they defaulted his account for £300. About 6 months later a debt agency sent him a letter chasing the money he phoned them and paid what was owing but when looking at his account they marked it as defaulted but settled so his credit rating is now fair. When he tried re mortgaging his place they turned him down so he has now sold. My credit is rated good and im a low risk so were wantjng to buy together. Is there a chance we could get a joint mortgage even with his one default that is a yr old and settled. All his debt will be cleared as soon as he has got the money from his sale and could my credit pick us up and help to get a joint one? We are seeing a mortgage advisor at present but just want to know if anyone else has had this and been ok.
Thank you

marty2be2000

Getting a joint mortgage will link you both financially, as such your currently good rating will be lowered poor. Anyone doing a credit search on you will also be searching your partner as well.

Chances of getting a joint mortgage are low however, because both financial situations are looked into.

YorkshireBoy

If you do manage to get a joint mortgage his poor credit will pull yours down (I'm surprised the mortgage advisor didn't tell you this)...not the other way round as you have speculated.

Which company/type of company defaulted him?

vickya1983

It was for a loan with HFC for a laptop it was for £300. The mortgage adviser said he liked a challenge so were waiting to see what he comes back with and if he thinks he can get us a mortgage even if it was one with a higher rate as renting is just too expensive for the size of house we would need.

Soo confused its really getting us down.

Hazzinho

See what happens, defaults are bad but for £300 it might be overlooked, the lender is the only one that can tell you. If he's sold a house I guess you have a decent deposit. Being financially linked can impact your credit but his £300 default is not going to make your credit poor. He managed a mortgage fine, that's a huge plus. For £300 it's worth disputing it and trying your luck. Always check credit running up to any big credit applications. Good luck!

vickya1983

Yeah its annoying as it was missed because he moved and assumed it had all been paid but as soon as he was contacted he paid the debt but sadly the default remained! im worried about my credit report getting lower as its on GOOD at the moment, im assuming his credit rating will increase once his mortgage and loan are paid of as they are saying his using 71% of his available credit. So maybe that could also be going against him, would putting a notice of correction make much difference?

McKneff

If he had assumed it had been paid and was clear, why did he update his address with them?

vickya1983

He informed them he was moving and assumed payments would carry on as normal, him and his partner where separating so think it got confusing for both of them, it than got forgotten about until he got a company to chase him for payment and them saying they wasn't aware he had moved. By which point they had defaulted him and i believe it cant be changed only now the account is set as settled. He set up payments with this company which was part of HSBC and paid the £300 owing.

Do banks take in to consideration this mishap? will they even read the notice of correction on the file?