We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage Application: Financial Associations
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?
0
Comments
-
Request the association is removed,if you have no joint accounts so there is no reason for it to be in place.0
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards