Credit References and Mortgage Assessment

Posted on 25 January 2011 by Katie Bleasdale

My fiance has a bad credit rating and defaulted on a loan. At the moment he is paying it back through an agency.

I have a decent credit rating, own my own house (mortgage in my own name) and have a credit card, which although has about £2000 on, is being paid regularly and was used for an emergency in the home.

When we are married, I want to keep the mortgage in my name, and he agrees we should, but my question is if in 5 years time or so we come to move will he affect any future application I make for a mortgage, in my name, if we are married?


Lenders currently use on of the 3 major UK credit reference agencies, Experian, Equifax or CallCredit when assessing mortgage applicants. In addition to receiving information on your own credit record they will also get the details relating to anyone with whom you have a financial association. This will arise from joint financial activity, such as a applying for a joint bank account or joint loan. Even if the application is declined an association will have been made and if you subsequently apply for a mortgage then his credit history will be reported and this could lead to you being unable to get a mortgage.

Credit records are kept on file for a maximum of 6 years and after this time the IVA will not be reported, he will however have to answer any specific questions on an application form relating to previous credit problems or previous declined applications.

Fortunately, not all Lenders rely solely on an automatic Credit Score to decide who to lend to and if you can show that you can support the mortgage from your own resources and that the IVA occurred before you got together then there is a very good chance that you will be able to secure a mortgage in either your sole or joint names. An independent mortgage broker will know which Lenders to approach and how to position you application to give you the best chance of success and I recommend that you speak to one in due course.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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