Will my bad credit affect partners mortgage application

ErRam13

Hi can anyone help please?. My partner has just applied for a first time buyer mortgage with natwest on the help to buy scheme, he has an AIP with them and had a meeting with a mortgage advisor last week where he gave wage slips, bank statements etc. He has a great credit rating decent deposit and income. I'm worried he won't be accepted due to my terrible credit rating! I'm in the process of setting up a DMP. We live together in a rented house, both our names are on the bills but we are not financially linked as far as I know we don't have joint bank accounts and never applied for a loan or credit card together, is that all that will link us financially?. He mentioned to the mortgage advisor that I would be living with him if he got the mortgage im now panicking that they will do a check on me, see that I'm in debt and not give him a mortgage!

psyjrobe

Unless you are applying for a joint mortgage, I don't think they will do a credit check on you. Legally, you will not be providing permission for this as it is your partner who is applying for the mortgage and going to the appointments. He should be fine providing that he can afford the payments as a single person. You will probably show up as linked on a credit search if you have direct debits in both names but this shouldn't affect his score.

It is good that he has mentioned you as I think this is a legal requirement. You'll probably need to sign something from the solicitor saying that you understand you don't own the house etc. Credit scores aside, there may be issues if you intend to contribute financially to your partners resulting mortgage. This raises questions about whether he can afford the payments by himself and there are also regulations for having a "lodger". I'd get some advice on this but it must happen all the time so I'm sure it will be fine.

I remember how stressful this all was but you should be okay.