financial associations with ex

Mard1980

I'm getting stressed out. I've just gone onto my Experian credit report and my ex is listed as an financial association. when we was together we had a joint bank account, she came onto my account. when we split up I took her off my bank account. I'm worried this is going to stop me getting a mortgage. i went onto Equifax credit report and she is not listed as an financial association. the problem is we have  put an offer on a house  and its been accepted so now i don't have time to remove her from my  Experian credit report. i have a excellent credit score and no debt but my ex did have a bad credit score and a lot of debt. has anyone had a similar problem? do you think this will stop me getting accepted for a mortgage ? 

K_S

@mard1980 it's hard to give a definitive answer but a financial association may impact on the "credit scoring" that lenders do as part of a mortgage application. On the plus side this should show up at the DIP stage.

In any case, do put in a disassociation request asap.

Mard1980

when you say impact the credit scoring, do you mean it could have a affect of the interest rate we would get. or could it be more serous than that 

K_S

@mard1980 Each mainstream lender has their own set portfolio of products/rates and criteria which includes passing the "credit score" that they calculate (not to be confused with the Experian credit score number). So an applicant can either get that product or they don't. There isn't any loading on the interest rates as such. I hope that makes sense.

I don't want to speculate and spook you. If the association you're talking about is from long ago, it might have no impact at all. In any case, do mention this to your broker if you're using one. As I said, if it is an issue, it *should* potentially show up at the DIP stage unless the lender uses only Equifax for the DIP.