Mortgage Application - Shall we wait

helpconfused

Hi, myself and my partner are looking to get a joint mortgage together. I have just checked our credit reports online and mine is poor, my partner is fair. There are no defaults on either of our reports, no ccjs. My score is poor due to only being on the electoral role for a couple of years and my credit accounts are fairly new with low credit limits. My partners is poor due to credit utililisation being relatively high. My partner has been with his bank for over 20 years, will we be declined a mortgage due to our credit scores? Also will my poor score have a negative impact on his score if we apply together? TIA

ACG

Ignore the scores, they are worthless.

Lenders will take the information (ie payment history, limits & balances etc) not the scores and combine it with the information on the application form and then score your application according to their own calculation.

That is not to say you will be accepted or rejected but the score on your credit report(s) is not as important as the agencies would have you think.

helpconfused

Thank you for your reply. There is no adverse credit ie no defaults. Everything is paid on time and we always make more than the minimum payments on credit accounts. My main concern is my poor score affecting my partners and making his poor also.