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Mortgage Application: Financial Associations
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HappyPath77
Posts: 1 Newbie
Hi
My partner and I have recently applied for a mortgage which was declined due to an (unsettled) Credit Default on my wife's record which dates back to early 2010. She was unaware of this and is now looking at settling this in the next few days but this will continue to remain on file for a while.
We are now looking at me applying to be a sole applicant on the mortgage. However, due to the joint application my partner is now listed as a Financial Association on my Credit File. Our finances are otherwise independent of each other (separate bank accounts, credit cards,) and I have a current mortgage on the property we currently reside in. Our link is based on our shared address and the recent mortgage application.
From looking at my Credit File / Reports I look to have a decent credit rating with no historical issues etc...and my earnings will cover the mortgage as a sole applicant. The question I have is whether my partner's issue would stop me from being successful in succeeding in the application?
My partner and I have recently applied for a mortgage which was declined due to an (unsettled) Credit Default on my wife's record which dates back to early 2010. She was unaware of this and is now looking at settling this in the next few days but this will continue to remain on file for a while.
We are now looking at me applying to be a sole applicant on the mortgage. However, due to the joint application my partner is now listed as a Financial Association on my Credit File. Our finances are otherwise independent of each other (separate bank accounts, credit cards,) and I have a current mortgage on the property we currently reside in. Our link is based on our shared address and the recent mortgage application.
From looking at my Credit File / Reports I look to have a decent credit rating with no historical issues etc...and my earnings will cover the mortgage as a sole applicant. The question I have is whether my partner's issue would stop me from being successful in succeeding in the application?
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Comments
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Request the association is removed,if you have no joint accounts so there is no reason for it to be in place.0
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I don't think they are 'allowed' to financially link you because you share the same address.£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!0
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