Grrr Financial Associations

Samwaydors

I have had in the past several joint accounts with my wife which are now closed, she has adverse credit and I am trying to get the financial links removed as I want to apply for a new mortgage.
The mortgage has always been in my sole name for the past 10+ years,


I have sent letters to both banks (Barclays and Natwest) and they have advised me that because we have had a joint financial interest in the past there is nothing they can do.


However, I actually have it in writing that we are no longer financial linked, so why can't they remove it from my credit file :mad:

fermi

You need to file notiices of disassociation with the CRAs directly. They have online or printable forms on their websites to do this.

Thrugelmir

Your wife is a dependent. So you'll need to declare her existance on the mortgage application form. This will then raise suspicions. As is always the first course of action people use to hide something.

fermi

Example for experian.

http://www.experian.co.uk/contactforms/consumer_onlinedisassociation.html

Samwaydors

Had two mortgages over the past 10 years, my wife has been declared on both mortgages, she has just had to sign some paperwork to say if I defaulted on the mortgage she would move out. It hasn't ever caused me a problem in the past and I certainly wouldn't hide the fact that I am married or be dishonest in any way.

Thrugelmir

Not suggesting that you are being dishonest. Lenders however are naturally suspicious. If your wife isn't on the mortgage then the lender may well consider her to be financially dependent. That coupled with the fact you have 3 children will impact affordability calculations.

Samwaydors

Thank you for all your advice.
My wife does work part-time, and does contribute to the household bills. The only reason she is not on the mortgage is because she has adverse credit, she has a CCJ registered against her and has a very poor credit score. My last mortgage with Santander that I applied for 8 years ago we were financially linked through a joint bank account with Barclays and it didn't cause me any problems. I am just being over cautious, but believe me when I say I can't wait for this to all be over with :eek: