Joint mortgage and financial disassociation

moatmeister

Hi
I am separating from my wife. We have a joint mortgage which has created a financial association on our credit files which we would mutually like to terminate. The ideal end result would be to have the house in my sole name and no historic or future financial connection to complicate any future borrowing. I believe these are two separate issues. I understand I can file a notice of disassociation with the credit agencies to de-link us financially  but does that also deal with the joint mortgage issue at the building society or would I have to arrange this with them directly? 

MEM62

For as long as you have a joint mortgage you will not be able to break the financial association.  You will need to apply to the lender to have the mortgage transferred to your sole name, which they will only do of you meet the lending criterion.   

klynch123

Appreciate this post is old, but figure my response may help others in the future. 

The comment from MEM62 is not true. 

So long as the only joint product is a mortgage, and there are no joint applications showing for any other product on your credit file, in the instance of a break-up, you are permitted to ask the CRA’s to remove the association. This can and almost always will be done. 

moneytorques

klynch123 said:

Appreciate this post is old, but figure my response may help others in the future. 

The comment from MEM62 is not true. 

So long as the only joint product is a mortgage, and there are no joint applications showing for any other product on your credit file, in the instance of a break-up, you are permitted to ask the CRA’s to remove the association. This can and almost always will be done. 

Interesting I've just attempted this with TransUnion and they have stated to the same affect as the MEM62 post.

retiredbanker1

The CRA's are duty bound to produce accurate information.
If there is a joint account then there is a financial association - no if or buts.