Financial Association

Koksmanareikals

Hi guys, long story short:

Me and my other half ( not married ) applied for a mortgage. Found a house, mortgage offer was issued but sale unfortunately didn't went through. Buying process is over, mortgage offer expired.

I have opened my credit report and noticed that now in my credit report it says that I am financially associated to her. Which is not true.

Mortgage offer expired 2 weeks ago.

Is it going to disappear or what?

TIA

MorningcoffeeIV

Koksmanareikals said:

.

Is it going to disappear or what?

Or what.

Ask them to remove it 

Ebe_Scrooge

Assuming it was a joint mortgage then when the offer was approved, you became financially linked.  You could ask for it to be removed - but will you be looking for another mortgage together in the near future?  If so then there's little point.

herebeme

Before you get your next mortgage offer jointly with her, please tell her you don’t consider yourself financially associated with her. She deserves a to know what she is getting into. 

Koksmanareikals

Ebe_Scrooge said:

Assuming it was a joint mortgage then when the offer was approved, you became financially linked.  You could ask for it to be removed - but will you be looking for another mortgage together in the near future?  If so then there's little point.

Because of current situation, we considering getting mortgage just on my name. So that finanfial link on my credit report could affect me if I apply just on my own.

Ebe_Scrooge

Koksmanareikals said:

Ebe_Scrooge said:

Assuming it was a joint mortgage then when the offer was approved, you became financially linked.  You could ask for it to be removed - but will you be looking for another mortgage together in the near future?  If so then there's little point.

Because of current situation, we considering getting mortgage just on my name. So that finanfial link on my credit report could affect me if I apply just on my own.

What is your other half's credit file like in comparison to your own?  Ignore the meaningless score, just look at the data.  If you both have similar files then it'll not make much of a difference.  It would only negatively affect you if for instance you have a good history (years of history showing all payments made on time, no defaults or late payment markers, no CCJs etc.) and she has a poorer history (very little history and/or evidence of defaults etc.).

If your histories are broadly similar then it's not going to make any material difference.

Koksmanareikals

Ebe_Scrooge said:

Koksmanareikals said:

Ebe_Scrooge said:

Assuming it was a joint mortgage then when the offer was approved, you became financially linked.  You could ask for it to be removed - but will you be looking for another mortgage together in the near future?  If so then there's little point.

Because of current situation, we considering getting mortgage just on my name. So that finanfial link on my credit report could affect me if I apply just on my own.

What is your other half's credit file like in comparison to your own?  Ignore the meaningless score, just look at the data.  If you both have similar files then it'll not make much of a difference.  It would only negatively affect you if for instance you have a good history (years of history showing all payments made on time, no defaults or late payment markers, no CCJs etc.) and she has a poorer history (very little history and/or evidence of defaults etc.).

If your histories are broadly similar then it's not going to make any material difference.

Our credit files is clean. Long history of payments on time and so on. Excellent scores.

I believe if I apply for mortgage on my own she will receive hard search for no reason and so on. If she accidently misses payment it could affect my application.

I understand you're financialy tied if you have joint mortgage and so on. But just because you've been approved for loan it doesn't make you financialy tied to someone.