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Financial Associates and credit check before completion
cheshirecat99
Posts: 3 Newbie
Hello
If a mortgage application was submitted under just one name but their husband/wife was searched as an "associate" at the time of application due to sharing a joint account with the applicant - could it scupper the mortgage if a credit check was ran at completion and the associate had taken on more debt?
I have been advised that this wouldn't be the case and the new debts in the name of the financial associate would be ignored however I still have a niggling feeling about it ...
can anyone help, please?
If a mortgage application was submitted under just one name but their husband/wife was searched as an "associate" at the time of application due to sharing a joint account with the applicant - could it scupper the mortgage if a credit check was ran at completion and the associate had taken on more debt?
I have been advised that this wouldn't be the case and the new debts in the name of the financial associate would be ignored however I still have a niggling feeling about it ...
can anyone help, please?
0
Comments
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The fact that you are still financially linked to this person (due to the joint account) means that yes, it could affect any application for credit.0
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That's what I thought.
Thanks - I feel less irrational now for getting concerned about it.0 -
It's actually rather frustrating as had the completion date not been delayed - it wouldn't have shown up on the credit report but as the exchange date has ben delayed it's pushed it into a time scale in which the "new" debt (actually a balance transfer) would show up and potentially cause an issue ...0
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Hi did this cause an issue in the end?cheshirecat99 said:It's actually rather frustrating as had the completion date not been delayed - it wouldn't have shown up on the credit report but as the exchange date has ben delayed it's pushed it into a time scale in which the "new" debt (actually a balance transfer) would show up and potentially cause an issue ...0 -
As the OP was last active in April 2019, I doubt you will get a reply from them.0
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