Hi, really need some advice as I am really worrying.
My partner wants to get a Mortgage. He currently owes the flat we live in (I moved in last year) but now he wants to rent that out and buy a house.
We have no joint bank accounts or loans or anything like that. I ended my IVA last month with a full and final settlement.
I am worried that his mortgage won't get accepted as I am on the electoral register at his address and I am on the council tax bill. Would that link us financially in any way?
Hi and welcome to the forum. If the mortgage is in your partner's name then your IVA won't be an issue. I lived with my partner when I was BR and he was able to get another mortgage.
There is a part in it which says "A credit record may also show the names of people who are on the electoral register at the same address, whether they are financially linked or not; so your IVA could affect your partner's credit record if you're just living together."
I hadn't seen that. As far as I'm aware you are only financially linked if you have joint accounts, mortgage etc. I've just checked my credit file and while it lists the addresses where I have been on the electoral role under associates is says there is no data to be displayed, i.e. I have no financial connections with my partner.
I havent checked my file in years. It's one of those things which have always frightened the life out of me because of the mess I got myself in.
I am hoping that what was written on Think Money was wrong because to be honest, I have since searched and searched the web and not really found anything else which backs that up.
If you click on the 'Ask a Question' link on the top left of this page he is listed as one of the experts.
I think it may well be worth your while checking your credit report because then you will see if you have any financial associates.
You could join Noddle.co.uk for free right away and that would give you an idea but I wouldnt of thought that you will be finacially linked just because of the electoral register.
The way I see it is you could both be living at your parents address in which case there would be 4 people registered at that address which doesnt mean that they are financially linked.
Would you recommend Noddle as a good credit report agency? There are so many I don't know which one is the best or if they are all the same.
I am hoping we are no finacially linked in anyway. I was absolutley certain we weren't until I read that artice (above) on Think Money and now I am having my doubts.
