Does being refused credit affect a re-morgage?

elm11

Can someone please tell me if because my partner has been rejected for a credit card - even though we know that he has fairly good credit history, if this will affect us being able to re-morgage (due to the fixed rate coming to an end) our house in january?

This may sound silly but I am getting worried about this. Any help is much appreciated.

Thanks

CLAPTON

His credit record will only show a credit search and not that he was rejected.
Has he checked what his credit records say?

exel1966

elm11 wrote: »

even though we know that he has fairly good credit history

Being rejected for a card doesn't necessarily mean other problems as it may be because you just don't fit the profile they are looking for at the moment.
Having said that, do you have actually a copy of your credit record or are you assuming he has a good history ? If you do fine, but never assume !

elm11

Hi Guys,

I will be asking my partner to get a copy of his credit report but he works away all week - so when he gets home tomorrow I can get him to do this.

He was told by the morgage advisor that it was good about 18 months ago and when he opened up a new bank account with Nationwide after we claimed back 2500 in charges from natwest. the bank clerk said that they had never known any customer to be accepted for such a large overdraft (£2,200) when opening an account with no money to open it with.

I assumed they would not give this to him if his credit was bad?

thumshie

In my opinion - I doubt it'll effect a re-mortgage, unless you try to release some equity or are moving - and thus upping- the size of it.

With the credit card application your applying for an increase in unsecured lending, where as a remortgage is moving an exisiting credit which is secured.

As others say, get the report and it may just be the credit card company has a different profile of person its looking for..

HairyHandofDartmoor

Some companies seem to reject you when in the same circumstances others accept you. Some companies are just more fussy than others.

It could be because he make two applications at the same time, or his amount or debt related to his income. What reason did the credit card give for the rejection? I shouldn't think it would affect your remortgage, especially as you are an existing customer.