IVA & Partners

Dan1992

Hi,

My partner has in the past had an IVA (less than 6 years ago). We are both due to sign a lease to rent our first house and I myself currently have quite a good credit rating.

I was curious to know if by both of us signing the lease, would his IVA or poor credit rating affect my credit rating after both of us signing the lease?

Thanks

sourcrates

If the IVA and/or defaults associated with it, are still showing on their credit file, then yes, it will be visable to anyone who does a credit check.


It may affect you, debt is peculiar to the individual, but will be visable in any joint applications.

Dan1992

Hi,

Thanks for the above. Just to clarify, both of us signing the lease won’t bring my credit score etc. down?

The only reason I ask is because I get my cars for myself on finance so if signing this lease will mess up my credit rating, I don’t think it’ll be the best option.

Thanks

sourcrates

Dan1992 wrote: »

Hi,

Thanks for the above. Just to clarify, both of us signing the lease won’t bring my credit score etc. down?

The only reason I ask is because I get my cars for myself on finance so if signing this lease will mess up my credit rating, I don’t think it’ll be the best option.

Thanks

It may have an effect on you yes, for a joint application, both of you will be assessed.

fatbelly

It's only going to affect your credit file if there is a joint financial product

His file will be showing the IVA and possibly (depending on the dates) some defaults too. If you have a joint mortgage, loan, overdraft or anything else that reports, then you will be linked financially and that will affect you.

Neutrinno

Dan1992 wrote: »

Hi,

Thanks for the above. Just to clarify, both of us signing the lease won’t bring my credit score etc. down?

The only reason I ask is because I get my cars for myself on finance so if signing this lease will mess up my credit rating, I don’t think it’ll be the best option.

Thanks

No Dan, signing the lease won't affect your credit rating as you are not taking out or applying for any form of credit.
I assume a credit check will be done on you prior to the tenancy agreement, but one check should not negatively affect your credit rating.