How could joint finances affect your credit rating?

Share a credit account? Then you share credit report information too.  Sharing finances can mean you’re more linked than you think, as lenders will often look at both of your credit reports when assessing your credit. 

If and when you apply for credit together, lenders will be able to see your partner’s financial information too and may use this when they make a decision about you when you next apply for credit. So we’ve put some tips to help you get up to speed with shared finances and credit.

Five top things you need to know about love and money

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  • Financial association means that your credit report can become linked to someone else’s through joint financial activity. This could be applying for a mortgage, opening a joint credit account, or in some cases even being on the same broadband or utility contract.

 

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  • Your credit report will only contain your financial information, but will show the name of anyone you share a financial connection with. If you share a credit application, each of you would see the other’s name in the section of your Experian Credit Report entitled ‘Financial Associations’.

 

  • social-valentines-campaign_ce-blog_300x200_4Talk about money with your partner. It might not be the most romantic of subjects, but talking about things could help you plan for the future, and avoid any unpleasant surprises. In fact, 21 per cent of people in a relationship say their partner is not fully aware of the amount of savings they have and one in 10 have not been open about their debt.*

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  • If things don’t work out between you & your partner, or one of the old friends you used to share an account with has run up debts, you can ask for financial links with them to be removed from your credit report (as long as you no longer share any accounts) – it’s called a financial disassociation.

 

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  • It’s best to be honest with each other about both your financial past and future goals. Shared responsibility for household bills, and working together on a regular budget, can make for a more harmonious time.

What if our credit ratings are different?

If you’re concerned that your partner may have poor credit, it’s a good idea to check your credit report to see if and how you are financially linked.  By checking your credit report you can see if you are linked or not, and the steps you could take to improve your credit rating.

And if both of you check your Experian Credit Score, it could help you understand how your credit history is likely to be viewed by lenders. It can also help you both understand if one of you might need to work on their credit history a little, before any joint credit applications are made.

To get your Experian Credit Score FREE forever, sign up to CreditMatcher, a free independent service that helps you compare credit deals you’re more likely to get, based on your credit information.  We are a credit broker not a lender, working with selected lenders.†

Linked or not linked?

Here’s a thing – being in a personal relationship with someone, and even having the same surname, does not link up your credit reports – and neither does living at the same address.  Credit reports do however become linked if two people have actually applied for credit together, for example a bank account or a mortgage.

Getting married

If you didn’t share a mortgage, a bank account or have any other shared financial arrangements beforehand, then saying “I do” at the altar is not going to have any impact.  However, if you change your surname, then including both new and old names on any new application for credit creates an ‘alias’ link between your two names.

A lender would then see information in both names on credit checks it makes. It’s also worth registering to the electoral roll in your new surname as soon as possible.  Remember, as long as you keep your finances completely separate, your credit reports will stay separate even if you live together or share the same surname.

(updated post, originally posted 11 Feb 2016)


*Total sample size was 2088 adults, of which 1433 are in a relationship. Fieldwork was undertaken between  12th – 13th January 2017.  The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

†Experian acts as a credit broker and not a lender in the provision of its credit cards and personal, car finance and guarantor loans matching services, meaning it will show you products offered by lenders and other brokers.

Experian acts independently and although CreditMatcher shows products for a range of lenders and other brokers it does not cover the whole of the market, meaning other products may be available to you. CreditMatcher services are provided free however we will receive commission payments from lenders or brokers we introduce you to.

CreditMatcher is provided by Experian Ltd (Registered number 653331). Experian Ltd is authorised and regulated by the Financial Conduct Authority (firm reference number 009743). Experian Ltd is registered in England and Wales with registered office at The Sir John Peace Building, Experian Way, NG2 Business Park, Nottingham, NG80 1ZZ.
Copyright © 2017, Experian Ltd. All rights reserved

120 thoughts on “How could joint finances affect your credit rating?

  1. Anna

    My partner and I would like to open a joint bank account. I have a perfect credit score, he has a poor one. My question is, if we open the most basic joint account (ie no overdraft/interest/direct debits etc), will there be a credit check and if so will his score affect mine?
    Thanks

    Reply
    1. CreditExpert Stuart

      Hi Anna, I understand that you are concerned about how your partner’s credit report might affect your chances to obtain credit and it is a good question to ask before applying.

      When you apply for credit with another individual, you will create what is called a financial association. While this will not affect your Experian Credit Score your partner’s information would be seen during the application and may be factored into the decision made by lenders. If you want to find out more about financial associations and how this impacts you, you should also check out this video.

      Kind regards
      Stuart

      Reply
      1. Anna

        Thanks Stuart. However, I don’t want to apply for credit with another individual because we already know about the financial association impact on credit score hence this is why I specifically mention a Basic Bank Account. As I understand, with a basic bank account a credit check doesn’t need to be done, since there is no interest or overdraft facility but they will simply do an ID and address check? Are you able to verify this?
        Thanks,

        Reply
        1. Anna

          I just wanted you to confirm, with a basic bank account, the Banks MAY check your credit report but simply for an identy check so there is a footprint but the footprint isn’t left behind since we are not applying for credit as such, just a simple basic bank account. Would you agree?

          Reply
          1. CreditExpert Neil

            Hi Anna, if you applying for even a basic bank account then the bank may perform a full check which would leave a footprint on your report. This is because they may want to know what level of service to offer, and some form of overdraft can be included in a basic account.
            The bank that you are applying to will be able to confirm if they are going to run a full search or not before you apply.
            Kind regards
            Neil

  2. Sallyann hooks

    If I have a joint account which has no money owed, but have bad credit else where that my partner is not linked to will this affect him and should I remove myself off the joint account

    Reply
    1. CreditExpert Joe

      Hi Sallyann, although your report isn’t directly effected by financial associates, lenders may look at their report as part of their lending decision. More information and how to remove them can be found at this link. Regards Joe

      Reply
  3. Kelly hamlett

    Hello I have a mortgage with my ex partner he hasn’t paid anything for about 7 years we brought the house in 2005!!! I have new partner and I would like to put him on and take my ex partner off. I have rubbish credit but he has good. Would we be accepted or not?? Thanks

    Reply
    1. CreditExpert Neil

      Hi Kelly, thanks for getting in touch.
      If you make a joint application then lenders will look at both you and your new partners details when they consider you for credit. So any positive information that he has could help your application. However it is always up to the lender themselves as to what decision they make. You may find our mortgage application guide helpful here.
      If your Ex-partner is still on your current mortgage you may also want to speak to your local Citizens Advice Bureau on how to go about removing his details or closing the account.
      I certainly wish you all the best with you new mortgage.
      Kind regards
      Neil

      Reply
  4. Hayley

    Hi I am just wondering if you know that if me and my partner are engaged and living together, his name is only on the mortgage as I didn’t earn enough at the time to apply with him, i have poor credit at the moment do u think if we get married and he applies to get a better mortgage rating in the next 4 years will my poor credit affect that wen if I’m still not on te mortgage? I’m not planning to go on it until my credit is good you see. I’m just worried that if we get married it would affect our new mortgage rates even if I’m not on the mortgage? Thanks 🙂

    Reply
    1. CreditExpert Neil

      Hi Hayley, congratulations on your engagement! Being engaged or married does not necessarily mean that you will be financially connected to your partner. A financial connection would only be recorded on your credit report if you have made an application for or opened a joint account or loan. If you haven’t made any applications for joint accounts then you would not be financially connected, and your information would not impact any applications that your fiancé makes.
      If you are financially connected by a joint account, then the lenders would be able to see your details when the mortgage application is made. I hope this answers your question, if you need any further information let me know!
      Kind regards
      Neil

      Reply
  5. Angela

    Hello I have a car on finance and was wondering if I chance my car with the same finance but lower payments would it effect my chance of getting a mortgage .as want to apply for a mortgage within a month or two. I have a good credit score.

    Reply
    1. CreditExpert Neil

      Hi Angela, I understand that you are looking to change your cars. If you need to take out new finance deal for the car then this could certainly impact your credit report, even if the payments are lower. Lenders like to be able to see established accounts when considering you for credit and having an new account, even with lower payments, could cause concern as they want to be sure you manage it well before offering further credit.
      It is always up to the lender as to what decision they make so it may not prevent you from getting your mortgage but generally new accounts will cause a drop in your Experian Credit Score at least in the short term.
      You may also find our mortgage application guide useful here.
      Kind regards
      Neil

      Reply
  6. Jamie

    My partner and I are about to apply for a mortgage and want the money to come out of a joint account. I have a 999 credit score and he has a 962, will opening a joint account affect our ability to get a low interest mortgage?

    Reply
    1. CreditExpert Joe

      Hi Jamie, when new accounts are first opened we feel they can have a negative effect on your credit report – a new account does not yet have history behind it so lenders may want to see how they can be managed initially. Remember though each lender makes their own decision so you may want to speak to your mortgage adviser/lender and let them know what you are planning on doing as they will be able to recommend if you should or not.
      Regards Joe

      Reply
  7. Dom

    Me and my girlfriend were going to open a joint bank account together.

    She has a poor credit rating whereas mine is good. Will this then affect my future lending prospects such as a mortgage?

    Thanks

    Reply
    1. CreditExpert Neil

      Hi Dom, if you do open or apply for a joint account then a lender would record a financial association between you. This would mean that if a lender searches your credit report then they would also search your girlfriends report, so this could impact any future credit applications. For more about financial associations take a look at our video here.
      Kind regards Neil

      Reply
  8. Shakira

    Hiya, my ex n I have a joint bank account. He refuses to sign off so I can close it! I’ve paid all my bills on time n have no areas on loans however my credit score is still crap n can’t get a loan to save my life! Could his credit history be impacting mine? If I consolidate my debt into a debt management plan will that rebound on him?

    Reply
    1. CreditExpert Neil

      Hi Shakira, I appreciate that this is a difficult situation to be in. You may find it useful to speak to your bank regarding the options you have for closing the account if your ex refuses to do so.
      While you have an open joint account this would be considered a financial connection, and as a result lenders would be likely to look at your information if you partner applies for credit, and his information if you apply for credit.
      Should you decide to take up a debt management plan this would impact your ex when he applies for credit, as lenders would take your information into account as well. It would not mean however that any of his debts would be part of the debt management plan.
      Kind regards Neil

      Reply
  9. Charmaine

    Hi,
    Me and my friend want to rent a flat together but my credit rating is poor and hers is very good. Just worried that mine could ruin our chances or renting? Any advice on the best way to ensure we can rent the property we have seen?
    Thanks in advance

    Reply
    1. CreditExpert Neil

      Hi Charmaine. Thanks for getting in touch.
      If a landlord performs a check on a tenant they won’t see your full report, they would only see public record information such as the electoral roll and any county court judgment information.
      Any late payments or defaults would not be seen and so should not cause you any difficulty when you apply. Renting a property together would not be seen as a financial connection either so you would not need to worry about your information impacting on your friends credit report, unless you open a joint account.
      For more about what a landlord can see take a look at our blog.
      Kind regards
      Neil

      Reply
  10. Tanya

    Hi, me and my partner are looking at buying our first home after privately renting for 4 years. The only problem is I have a poor credit rating and he has a good credit rating. Would our chances of getting a mortgage be slim, would my credit rate lower our chances at getting our first home?

    Thanks

    Reply
    1. CreditExpert Neil

      Hi Tanya, thanks for getting in touch. If you do share a financial connection, such as having a joint account, then lenders are likely to check both of your information when considering an application. As a result information on both your reports will be taken into account. This does not necessarily mean that you won’t be able to get a mortgage, but could mean that companies will offer at a higher rate. You may find our guide to preparing your credit report for an application useful here. I certainly wish you the best of luck when you are ready to apply! Kind regards Neil

      Reply
  11. Sian

    Hi,
    My partner and I have a joint bank account, which is in overdraft, but the account was originally mine with overdraft on it. When we got married I added her to my account (which already included overdraft).

    Considering that we never applied for the overdraft together, will I be able to disassociate from her and remove from bank account while the account is not in credit?

    Thanks

    Reply
    1. CreditExpert Neil

      Hi Sian, it would be up to your bank as to whether they would be prepared to take her name off the account while it is still active, and they may need her consent to do this.

      If the bank are prepared to remove her details from the account, then as long as you have no other active joint accounts then we would be able to financially disassociate you.

      You can find out more about this process here.
      Kind regards Neil

      Reply
  12. Charlie

    Hello,

    Me and my partner are moving back home with parent so we can save for a mortgage. He wants to set up a joint bank account once he has paid of his debts. I have a fair credit score but I don’t know what his would be but I know it will be bad as he never paid his debts for a while and he also had CCJ’s which he has paid off about 3 years ago . So we both need to re-build our credit.

    I understand that if we open a joint account that we will be connected financially and we will both appear on each others credit report, However, if we both set up a direct debit for the phone bill and my loan to come out of the joint account will the help re-build both of our credit.

    As we are moving back with family and saving for around 12-18 months, can you tell me what the chances are of us getting a mortgage after this amount of time.

    Many thanks

    Reply
    1. CreditExpert Neil

      Hi Charlie, thanks for getting in touch.
      Opening a joint account would certainly link you financially to your partner, and you are right that lenders would then take into account both of your credit reports when considering you for a mortgage. Having a well run account on your report would be seen as positive by lenders, and as the CCJ gets older it will have less of an impact, however it would remain up to the lender as to whether they would be prepared to offer a mortgage. It might be that they will be able to offer one but at a higher rate. You may find our guide to preparing for a mortgage applications useful here. Kind regards Neil

      Reply
  13. Ross

    Hi. My partner recently bounced a payment into our joint account, which subsequently caused a delayed mortgage payment (joint mortgage). I called the lender (RBS) a day or two after the payment was not made and tried to make it then, but was told I had to wait for them to deduct it in their next cycle a few days later, and that that would mean a late payment would be recorded on our credit file.

    My question is, how will this impact my credit? I had some poor history 7-8 years ago but have recently had this drop off my report, leading to a great credit score. Will I now have to endure a further 7 years of poor credit?

    Thank you
    Ross

    Reply
    1. CreditExpert Neil

      Hi Ross, thanks for your question. While the late payment is current then it would have a significant impact on your Experian Credit Score but has it gets older and lenders can see that it was a one off occurrence then the impact on you Experian Credit Score will drop. It certainly would not have as much as an impact on your score as a defaulted account or recurrent late payments. Kind regards Neil

      Reply
  14. Sarah

    Hi, my husband and I are looking to get a mortgage together. He has a perfect credit score and will be the lead applicant as his income will make up the majority of our application. My credit on the other hand is terribly poor, I have 1 default that is 4 years old with a balance on £0 and a number of payday loans that are a maximum of 6 months old. Are we likely to be declined because of me?

    Reply
    1. CreditExpert Neil

      Hi Sarah thanks for getting in touch. If you are making a joint application then the lenders would look at both of your credit reports. As your defaults are now several years old they will have less of an impact than when they were recent, but it will be up to the individual lender as to whether they will be prepared to accept your application with these defaults. You may find our guide on preparing for a mortgage application useful here. Our Ask James page also deals with the impact of payday loans here. Kind regards Neil

      Reply
  15. Aaron Crawford

    Hi I am associated with someone I had a mortgage with. This was ended 2 years ago. How can I disassociate myself from her. I’ve tried but I was asked for her address which I don’t know.
    Thanks
    Aaron

    Reply
    1. CreditExpert Joe

      Hi Aaron, if you no longer have any active joint accounts with your association you can apply for disassociation here. Where possible complete the form with as much information as possible, if you no longer know the answer to some of the question just put n/a where an answer is required and we will do what we can to help as we appreciate you may not always know the details of former financial connections.
      Joe

      Reply
  16. Sarah

    Hi.
    My partner and I want to open a joint bank account.
    We live together in my house. The mortgage is in my name only.
    He owns a property too that we are trying to sell. That mortgage is in his name only.
    If we open a joint account and are financially linked then could I have issues in the future changing my mortgage deal? My fixed rate ends in a year.
    In other words could his mortgage debt be classed in terms of me getting a new deal as essentially my debt even though it’s in his name….as we are linked?

    Reply
    1. CreditExpert Neil

      Hi Sarah, thanks for your question. By taking out a joint account with your partner you would become financially linked. Lenders would then check your partners details as well as your own when you apply for credit. As a result your partner’s mortgage could impact any application you make, even though it is solely in his name.
      It doesn’t mean that you would necessarily be prevented from getting a new mortgage, this will always be up to the lender themselves and if your partners information is good then it could even help your application! You may find our guide to mortgage applications useful here.
      Kind regards
      Neil

      Reply
  17. Matthew

    Hi,

    I’ve got a pretty poor credit history but it’s getting better.

    My partner and I opened a joint account when we moved in together, just a basic joint account with no overdraft. As such, there is no issue with closing the account. We’re wanting to disassociate ourselves financially. My question is, will closing the joint account close and end this financial link or would we have to submit a dissociation form to the credit agencies?

    Any help would be greatly appreciated.

    Matthew

    Reply
  18. Sarah Curtis

    Hi,
    Me and my partner are looking to get a mortgage. My credit score is either fair or good depending the site. My fair I think is caused by a missed payment on my very account, this was laziness by myself as I did not check the account often enough. I have learnt from this and have not done this in 7 months. All other direct debits have never been missed and I have never had a credit card. My partners score is good/excellent, will we get accepted for a mortgage?

    Reply
    1. CreditExpert Joe

      Hi Sarah, as a credit reference agency we don’t decide if you’ll be accepted or not. That’s up to the lender, they’ll use the information on your report along with other information to decide. They don’t see your Experian score either, they’ll score you themselves. Your Experian score is an indication of how we feel a lender may score you. If you are looking at going for a mortgage you should check out our Mortgage application guide blog.
      Joe

      Reply
  19. Pamela Aniekwuofu

    Hi I’m wondering how long it takes for my partners name to be removed from my credit we took out a loan then canceled it and didn’t take it but his name is still on my credit score when will it be removed

    Reply
    1. CreditExpert Neil

      Hi Pamela. If you have no financial connection to your partner then we can get the financial association removed. To do this we need you to complete and return a financial connections questionnaire. You can do this online here. We will then email you directly to let you know when it has been completed.
      Kind regards
      Neil

      Reply
  20. Stuart

    Hi. My girlfriend is thinking of adding me onto her bank account. My personal account is currently overdraw . I would still be using this account and the one with my girlfriend would be solely because she has travel insurance etc included with her account which I could use if I’m on the account. Would I still be able to join the account even if my personal account is overdrawn? Thanks

    Reply
    1. CreditExpert Neil

      Hi Stuart, being overdrawn on your account shouldn’t mean that you would not be able to open a new account joint account or being added as an authorised card holder to your girlfriends account, but the decision is always up to the lender themselves.
      If your girlfriend added you as an authorised user this would be different to opening a joint account with her, as ultimately the account would remain your girlfriends responsibility. Opening a joint account would also link you financially so lenders would check both your credit reports in future applications.
      Kind regards Neil

      Reply
  21. Stuart

    Thanks for the reply Neil. I got it wrong, it was a savings account she tried adding me to so we could save money for our holiday. She tried to do it online and it told us to come into branch to make the savings account joint. Is there a reason for this other than they may want to see indentification? We both use the same banking group. Thanks

    Reply
    1. CreditExpert Neil

      Hi Stuart, a lender may still perform a check when you apply for a savings account and if you already hold accounts with them they may check their internal records. It would be up to the bank themselves however if they are prepared to accept the application while you have an overdraft. Kind regards Neil

      Reply
  22. Siobhan

    Hi – i recently split with my partner and have noticed that credit searches he has carried out are now showing on my report although he advised he did not use my details. Can i have these removed as these are now affecting my credit score?

    Reply
    1. CreditExpert Stuart

      Hi Siobhan,

      I understand that you are concerned about a number of searches on your Experian Credit Report. If you have an association with your ex-partner then this would be why the lender searched your report during the application process.

      However this search should not have impacted your Experian Credit Score as it would be shown as an associate search on your report. As you are no longer with your partner, you might want to consider a disassociation from this person on your report, you can find more about this here.

      Kind regards,
      Stuart

      Reply
  23. Fiona law

    Hi, my husband has acted as guarantor for our daughters car finance. He currently has excellent credit rating. He has just been declined credit the only factor is this association (she has bad credit rating) how can we remedy this. It seems very unfair that he is penalised for helping our daughter.

    Reply
    1. CreditExpert Neil

      Hi Fiona, the terms and conditions of being a guarantor can vary and the lender may have recorded a financial association when your husband agreed to be guarantor. Being a guarantor is not the same as having a joint account however, and as long as he doesn’t have another financial connection with your daughter then he would be able to have a financial disassociation to remove the association on his report. If your husband completes our online financial disassociation form we will be able to process this for him. Our Ask James pages covers being a guarantor in more detail here. Kind regards Neil

      Reply
  24. Sophie

    Hi, Me and my partner would like to open a joint savings account, he has an excellent credit history report, and I have a really poor credit report! If we open a savings account together will my bad history effect his credit score ?! Even if it’s just a joint savings account and not a joint current account ?

    Reply
    1. CreditExpert Neil

      Hi Sophie, when you apply for a joint savings account the lender may record a financial association, so you may wish to check with them before submitting the application to see if they intend to do so.
      If an association is recorded we would be able to remove it with a financial disassociation as long as you have no joint credit accounts. To do this you would need to fill in a financial connection questionnaire which you can do online. Kind regards Neil.

      Reply
  25. Nick

    Hiya!

    Me and my girlfriend are about to apply for a mortgage. My credit score isn’t very good, but hers is very good.. I was wondering what the chances of us being accepted are and also, if her good credit score would somewhat help our chances, given the fact that mine isn’t great! Thanks!

    Reply
    1. CreditExpert Neil

      Hi Nick, if you are making a joint application then the lenders would look at both of your information when making their decision so your girlfriends positive report would help. It is always up to the lenders themselves as to what decision they make. You may find our guide to mortgage applications helpful here. Hope it all goes well for you when you are ready to apply! Kind regards Neil.

      Reply
  26. Dee

    Hello.
    I’m married and have a very poor credit rating,my husband has a good credit rating.
    The only thing we have in joint names is our mortgage because of my poor rating am I stopping my husband from getting credit.
    Kind regards.

    Reply
    1. CreditExpert Neil

      Hi Dee, while you have a joint mortgage and share the property sadly we would not be able to financially disassociate you from your husband. However you there are steps you can take to work on improving your credit report. Find out more here. Kind regards Neil.

      Reply
  27. Neil McLean

    Good morning,
    My wife and i currently have a joint mortgage but are looking to move. Unfortunately my credit is not good at the moment so my wife was hoping to get a new mortgage in her name only. will my credit score affect her if she applies for a mortgage on her own?

    Reply
    1. CreditExpert Neil

      Hi Neil, while you have an existing joint mortgage you would be financially connected to your wife, so any lender who views your wife’s credit report is also likely to check your credit report. To financially disassociate you from your wife you would need to close any active joint accounts. Once you are financially disassociated then lenders would only view your wife’s information when she applies for credit. You can find out more about getting a financial disassociation here. Kind regards Neil.

      Reply
      1. Neil McLean

        Thanks, in order to do this though we would need to take my name off of the joint mortgage we have at the moment, but to do that im led to believe they still need to credit check you so i dont know how that would work?

        Reply
        1. CreditExpert Neil

          Hi Neil, if you were to make a new application then a credit check would certainly be expected. Your existing mortgage provider would be able to confirm if they would need to perform any checks to take your name off the joint mortgage. You may find our mortgage application guide useful here Kind regards Neil.

          Reply
  28. Lee Chilvers

    Is it just the actual account holders that are taken into account or anyone making a deposit? I’m in a similar position to Anna where my partner has a poor credit rating. I’m thinking of creating a joint account but I dont want that to be a problem for us. Can I have the account just in my name but have her able to put deposits in it without linking us together?

    Reply
    1. CreditExpert Neil

      Hi Lee, if your partner is just making a deposit into an account this would not be considered a financial association. It would only be a financial association if you were to apply for a joint account together. Kind regards Neil

      Reply
  29. Kamila

    Hello,

    We’re having (me and my husband) joint account since we’ve came to the UK (4 years ago). We’ve started to thinking about buying a house. Can us having a joint account can affect (good or bad way) our credit score ( no credit history in UK a t all) or possibility of getting a bank loan?

    MT
    Kamila

    Reply
    1. CreditExpert Neil

      Hi Kamila, I hope you are enjoying being in the UK! If you have a joint account with your husband then it will mean that lenders will check both of your credit reports when either one of you applies for credit. If you have been in the UK for a few years now then there is likely to already be some information recorded on your credit reports, as things such as current accounts and utility bills can now appear on your report.
      Having a financial connection would not be seen as negative, but if you or your partner have negative information on your report, such as missed payments then this could impact you when you apply for credit. Checking your report can help you understand what information is recorded in your name, you can find out the ways you can do this here. Kind regards Neil.

      Reply
  30. Charles

    Hi

    I need some urgent help please as I have found a property I want to rent so me and my girlfriend can move in together. I own an apartment and she rents from family. The problem is that I want to buy a house in a year or so, and need to be able to take out loans in the future. I am debt free except for a mortgage and have a high credit rating whereas she has a very poor credit rating and a number of outstanding debts which she has been left with and is trying to clear over time.

    I need assurance that us moving in together will definitely not effect my credit rating as I know the effect it could have if we financially link.

    The landlord has said I can take out the tenency myself with my girlfriend named as a ‘permitted occupier’ and all household bills will be in my name. The only concerns I have are:

    – I would want my girlfriend to be able to use the address for her own bills i.e. mobile phone, work and daughters school
    – Is there any reason a credit check performed bythe landlord on both of us would financially link us?
    – I believe that as a permitted occupier only I am liable for council tax and it wouldnt therefore link?

    We will not have a joint bank account, joint mortgage in the future or anything financial taken out as joint.

    Are there any assurances you can give that I can proceed and we can both live at the same address, use the same address on our own bills or registrations including passport, driving license, schools etc.

    The concern is that my financial advisor has told me twice that if we move in together any indication that we live together will link our financials even if we dont share a financial commitment.

    Please help urgently and thank you.

    Charles

    Reply
    1. CreditExpert Neil

      Hi Charles, you don’t need to worry as living in the same property would not create a financial link. A link would only be created if you were to apply for a joint account.
      Your girlfriend would still be able to use the address for her own accounts such as mobile phone, having well run accounts can also help her to start to rebuild her own credit history.
      Any checks by the landlord would not be full credit checks (they would only see public record information) and a financial association would not be created.
      We don’t hold information relating to council tax and your local authority would not be able to record a financial association.
      Living together doesn’t automatically link you financially, in the same way that you wouldn’t be automatically linked to a flat mate if you shared a property.
      Many couples do find it easier to open joint accounts to manage bills and household expenses, but unless you make a specific joint application then you won’t be financially linked. Even if a company did create a link in error then we would be able to remove it as long as you had no active joint accounts.
      I hope this helps to put your mind at rest!
      Kind regards
      Neil

      Reply
  31. Ciaran

    Hi Darren

    I have a joint account and need to set up a debit order for both Water and Gas. Would it make a difference if I am trying to build up our credit score if the debit order is set up in my name only, or in the joint account? We want to set it up for the joint account, but only if it will benefit both of us in building up our credit score.

    Thanks,

    Reply
    1. CreditExpert Joe

      Hi Ciaran, your credit reports will build separately and have their own history. A joint account would appear and build on both reports.

      Joe

      Reply
  32. anna

    Hello.
    My partner is desperate to get a mortgage. He has an amazing credit rating but mine is so poor it’s below 200. Theres 2 things I want to know.

    1) if I keep everything up to date with no late/missed payment, how long will it take to start rebuilding my score?

    2) If my partner applied for a loan just in his name but I put in half the money, would that automatically link us and make the application decline?

    Thank you

    Reply
    1. CreditExpert Joe

      Hi Anna, there’s no set time for how long a report might take to build but I’d recommend checking out this guide on the best ways to improve your score. A financial association would only be created when you make an application for credit together, if only your partner applied for the agreement then this would unlikely link you both however it might be worth asking a lender if they’d choose to create one in this situation.

      Joe

      Reply
  33. Brandy

    I have a question about my credit report 4 years ago i signed a lease agreement on a apt. Complex with my ex but around that time we split and i moved out. To my guess he moved out also cause now tht shows up on my credit report just now and it says joint. Does that mean its shows up on his to? And if so if one of us pays it will it start to lower on both our credit reports?

    Reply
    1. CreditExpert Neil

      Hi Brandy, a joint account would show on both of you and your ex’s credit report. If the account is still active then the balance should be updated each month on both of your accounts regardless of who is making the payment. If the account has defaulted then the company may not update it until it is cleared. At the moment rental agreements don’t show on credit reports, if you would like us to take a closer look at this entry please get in touch with your details and we will be happy to do so. Kind regards Neil.

      Reply
  34. Harry

    Hello,
    I checked my credit report and found a financial association. Turned out this was the water company who’d done it. I have no relationship, financial or otherwise, with the person I’m associated with. At one point it seems both our names were on the water bill. But here’s the thing, I’ve never applied for credit with the water company and in all their blurb they’ve sent in the past, I’m fairly certain I’ve never agreed to them placing my account with the agencies. What’s going on here?
    Thanks,
    Harry.

    Reply
    1. CreditExpert Neil

      Hi Harry, many utility companies now share their information with credit reference agencies. The consent to share the information is usually part of your agreement with the supplier. If you have a joint account then it is likely that an association will be recorded. We can process a financial disassociation from the other person for you to remove the association if you are no longer connected. To do this there is an online form which you can complete and return here.
      Kind regards Neil.

      Reply
  35. Susan

    Hi
    My father passed away recently and my mum wants to add me to her bank account, the bank suggested this in order to make things simpler when my when mum passes away (I am already executor) my question is
    Will I need a credit check? My credit rating is very very poor, I really don’t need the hassle a credit check will create, the bank asked me to go back and see them with my photo ID
    Many thanks

    Reply
    1. CreditExpert Stuart

      Hi Susan,

      In terms of if a credit check would need to be carried out to be added to your mothers account, I can’t say for certain if this would take place.

      You may want to contact the lender directly about if they would need to carry out a credit check before adding you to your mothers account.

      If you are concerned about improving your Experian Credit Score, you may want to check this page.

      Kind regards,
      Stuart

      Reply
    2. CreditExpert Neil

      Hi Susan, I’m sorry to hear of your recent loss. The bank would be likely to carry out a credit check if they are adding you to an existing account, and they would also be likely to create a financial connection between yourself and your mother. It would be up to the bank themselves as to what they are prepared to accept when you apply.
      Kind regards
      Neil

      Reply
  36. Sharon

    Hi my husband applied for a mobile phone through sky mobile and when I checked my credit report it showed that they had searched my file too Is this right that they can do that? Also is this a hard or soft search. We do not share any open bank accounts now but we have done historically. We have no joint credit agreements and we do not have a mortgage.

    Reply
    1. CreditExpert Neil

      Hi Sharon, for a company to search your report when your husband has applied there would need to be a financial connection recorded on your credit report. The association may still be recorded from when you had a shared bank account. The good news is that the search would be a “soft” search and would not be seen by any other lenders and does not reduce your Experian Credit Score.
      If you are no longer financially connected to your husband you can have the financial association entries removed from your report. To do this please complete our online financial connections questionnaire here. Kind regards Neil.

      Reply
  37. Laila

    Hi, this a little different as it’s myself and my brother who want to get a house together. The only issue is I have poor credit and also have a CCJ on my file (all this occurred while I was unemployed over a year and a half). Thankfully now I have a great job, with the a steady income and a large deposit but my credit rating is still very poor although I pay all my bills on time. My brother however has good credit but no deposit so we’d like to apply for a mortgage together, I suspect we won’t bet it if I’m on application, am I correct? What can I do to better my credit score?

    Reply
    1. CreditExpert Neil

      Hi Laila, the lender would take both your information and your brother’s into account if you make a joint application. It is always up to the lender as to what decision they make. They still be prepared to offer but at a higher interest rate.
      There are things you can do to improve your credit report such as making sure that you are registered on the electoral roll and ensuring your payments on active accounts are all up to date. More information about this here. Kind regards Neil.

      Reply
  38. Jasper

    Hi, I am looking at the possibility to help my sister to buy a house as tenants in common as she has a very poor credit rating (due to ex husband) and will have trouble getting a mortgage. Will we be financially linked if there is no mortgage, and all bills are in her name – Iooking to be silent owner. Thanks.

    Reply
    1. CreditExpert Neil

      Hi Jasper. As long as you didn’t open or apply for any joint accounts with your sister then you would not be financially connected on your credit report. If you own the property and you sister pays all the bills then this would not create a financial association and so you would not be linked on your report. Kind regards Neil.

      Reply
  39. Jonathan Lewis

    Hi, i have a credit score of 999 and my partner has a lower score of 600 due to her having no form of credit other than a mobile phone. We have nothing joint at the moment but intent to get a mortgage together in the coming years. If I add her to my bank account would her credit naturally improve over time with her being associated with me? She is reluctant to improve it through store/credit cards. Thanks

    Reply
    1. CreditExpert Neil

      Hi Jonathan. If you open a joint account with your partner then it would appear on her report and will help her Experian Credit Score in the long run. As the account becomes more established, providing it has been run without any problems, it will start to contribute positively to the score.
      Having a joint account would mean that you are financially linked though, and when you apply for credit the lender may also look at your partners information.
      Kind regards Neil.

      Reply
  40. Beth

    Hi, I currently live with my partner in his house that he has a mortgage on. We’re hoping to move within the next few years, but I have a really bad credit rating because of mental health issues. I’m currently paying off my debts a small amount monthly, and will not have paid them off by the time we look to move.
    Will my credit rating affect buying a new house, even if the mortgage is in his name? If not, will they take into consideration my earnings as well, or will it just be based on his?

    Thanks.

    Reply
    1. CreditExpert Stuart

      Hi Beth,

      I understand that having a bad credit history might be concerning for you, especially as you are looking to apply for a mortgage in the future.

      In terms of if your credit history might affect you and your partners chances in the future, it would depend on what information is recorded on your credit report at this time. If you have no joint accounts on your credit report at this time and do not apply for a joint mortgage, then your credit report history may not be taken into account in the application.

      You may want to meet with a mortgage advisor who will be able to help you with planning for this in the future. If you haven’t done so as well, you might want to check a copy of your Experian Credit Report as well to see what is listed on your Experian Credit Report at this time. You can see the options we have available to you here.

      Kind regards,
      Stuart

      Reply
  41. Patrick

    Hiya,

    I have started a new business. If I open a joint business account with my business partner is he likely to come up on my credit report as someone I am financially linked to? We have no other association other than working together as business partners and do not live at the same address,

    Reply
    1. CreditExpert Joe

      Hi Patrick, business reports are separate to personal reports so this shouldn’t affect your personal report. However in some situations a bank may need to perform a personal check against you which could lead to a financial associations. If you ask they bank they would be able to confirm this or not. If a financial association was to be created but you had no joint accounts on your report then you could apply for a dissociation straight after anyway.

      Joe

      Joe

      Reply
  42. Karolina

    Can I dissociate from my partner? We have never had a joint bank account or joint mortgage together. However, I noticed on my report that I am associated with him as our names are on the utility bills. Even though we live at the same address we keep our finances separately. I am worried that his poor credit score would affect my mortgage application.

    Reply
    1. CreditExpert Neil

      Hi Karolina, as long as you don’t have any active joint accounts then you would be able to financially disassociate yourself from your partner. If the utility account is still joint then you may wish to contact them to get it transferred into a single name. Once you have not financial connections you would need to complete and return a financial disassociation questionnaire and we would be able to remove the associations from your credit report. You can download the form here. kind regards Neil.

      Reply
      1. Karolina

        Hello,
        Thank you for your answer. Can you please tell me how long does it take to dissociate from a person? I have sent a form over 3 weeks ago, but my experian credit report still is not updated.

        Reply
        1. CreditExpert Neil

          Hi Karolina, we would normally expect a financial disassociation to be complete within 7 days. Please get in touch with your details and we will be able to look into this for you. Kind regards Neil.

          Reply
  43. Ali

    Hi,

    I moved in with my partner about a year ago. She is currently on an IVA which is due to come an end shortly. Where as my credit history is excellent. We don’t have any joint financial commitments currently as it’s something I’m keen to avoid. However I’m not currently on any of the utility bills, but she wants to add me onto the Council tax, plus the British Gas bill.Will this create a financial connection and impact my credit history?

    Any help would be greatly appreciated.

    Thank you in advance.

    Reply
    1. CreditExpert Neil

      Hi Ali, being listed on the council tax will not link you financially to your partner. If the British Gas account is solely in your name then this would also not link you financially. However if both your names are on the British Gas account then you would be linked.
      Kind regards Neil.

      Reply
  44. Mrs moody

    Hi.. after 10 years marriage… my husband and my self will apply for joint mortgage to remortgage our house.. it used to be on his name only. He has excellent credit rate while I have poor credit rate. Will we have issue to get joint mortgage? Will my poor credit rate effect his rate ? Thank you

    Reply
    1. CreditExpert Neil

      Hi Mrs Moody, if you apply for a joint mortgage then the lenders would look at the information on both of your credit reports. So the will be taking into account both your husband’s good information and any negative information on your credit report.
      This doesn’t necessarily mean that they would refuse the application but they may offer a higher rate, this would be up to the lender though as it is always their decision.
      Kind regards Neil.

      Reply
  45. Nicola

    Hi.
    Last month I applied for a loan and got declined although I have a very good credit rating. After speaking with the bank I found out this may have been because I have my name on a joint loan with my mum which I had done solely for the purposes of getting a good credit history. If I was to take my name off this joint loan and reapply, would the fact I had taken my name off a loan that was not yet finished affect my credit rating?
    Thanks

    Reply
    1. CreditExpert Stuart

      Hi Nicola,

      In terms of a joint account and removing yourself from the loan at this point in time, you can go to the lender and ask to be removed from the loan at this time. However if you did this you would still have a financial connection with your mother.

      The account would still remain on your Experian Credit Report with the history going up until the point you would settle the account. From the point you leave the account the history of the account would remain on your Experian Credit Report for six years (as would any other account that is settled on your Experian Credit Report as well).

      If you do settle the account and no longer are included on the loan, you would then need to request a disassociation to break the link that you would have with your Mother. You can learn more about this here.

      Kind regards,
      Stuart

      Reply
  46. Danielle

    Hi,

    My partner and I recently moved in together however the mortgage was applied for and is in his name solely due to my poor credit rating and his excellent one. We don’t share a bank account however he is my guarantor on a loan. We also have joint life insurance. He recently applied for a credit card and was declined. He’s putting this down to only having been living at our new address for 8 months. After reading the above, could I be the reason he was declined? I’ve checked my credit report and he is a financial connection of mine. Have I brought his score down? His score itself is pretty high. Like between 920 and 999. I hope it’s not been me!

    Thanks

    Reply
    1. CreditExpert Neil

      Hi Danielle, if you have a financial connection to your partner recorded on your credit report then a lender is likely to search both of your credit reports when either of you make an application.

      It would be up to the lender as to why they did decline, but it is likely that they will use both of your information in their decision making. Being guarantor is not considered a financial connection, so as long as you have no active joint accounts you would be able to financially disassociate from your partner.

      You can find out more and download the form to do this here.

      Kind regards Neil.

      Reply
  47. Robert Davis

    Hi
    Would i need to complete a financial dissassociation form with every credit agency, or would it filter through from registering one with yourselves?

    My Credit rating is poor and recently my Father became a guarantor for me on a loan. He has a very good credit history, but now suddenly his score has been affected by this link to me, which is not right when all he has done is help me.

    We have no other financial link, no joint accounts, no joint loans, credit cards.

    Thanks
    Rob

    Reply
    1. CreditExpert Neil

      Hi Robert. You would need to contact all three of the credit reference agencies separately to arrange a financial disassociation with each.

      Here are the contact details of the other credit reference agencies:

      Callcredit PLC: Consumer Services Team, PO Box 491, Leeds, LS3 1WZ
      Tel: 0845 366 0071

      Equifax Ltd: Customer Service Centre, P O Box 10036, Leicester, LE3 4FS
      Tel: 0800 014 2955

      Some lenders may record a financial association as a result of having a guarantor, but if you have not active joint accounts we can get the association removed for you.

      Kind regards
      Neil

      Reply
  48. Jordan

    Hi my girlfriend has an account in her name for credit but it comes out of my bank if I cancel the direct debit will that affect my credit or hers?

    Reply
    1. CreditExpert Neil

      Hi Jordan, if the account is solely in your girlfriend’s name and is not a joint account then cancelling the payments that you make would mean that late payments may be recorded on her account but they wouldn’t be recorded on your credit report. It would probably be a good idea to let your girlfriend know if you are thinking of doing this so that she can make alternative payment arrangements, then late payments would need to be recorded at all. Kind regards Neil.

      Reply
  49. Amy

    Hi,

    My partner has a poor credit record, though last year repaid all his debts, and the defaulted payments on his record will soon be over 7 years old. We live together, but have no joint finances apart from a savings account. I am currently the only person on the mortgage – the house is shared ownership, so when the fixed rate ends in 2 years we are hoping to apply for a joint mortgage to buy the house outright.

    I know that getting a joint current account will link us financially and his poor credit score might affect me, but I was wondering whether having a joint account for the next 2 years (with no credit issues) might actually help a joint mortgage application, since it will show that we have been responsibly managing joint finances? Or is it more likely that they will ignore the good joint credit history and focus only on his poor record from before we met?

    Thanks.

    Reply
    1. CreditExpert Neil

      Hi Amy, thanks for your question.
      If you are making a joint application for a mortgage then the lender will look at both of your credit reports when they make their decision. Having a well run joint account that is a few years old would be something that is seen as positive on both of your reports and it could help to improve your partners Experian Credit Score.
      If all the defaulted accounts he has are over six years old then they would also be removed and we would expect his Experian Credit Score to start improving. The lenders will look at the whole of the last six years history when they consider him for credit both good and bad, but ultimately it is always up to the lender as to what decision they make. Kind regards Neil.

      Reply
  50. Vanda

    My fiancé and I have never made a joint application for credit, yet for some reason a financial association is showing on my credit report. Please explain how this could have happened? I am on his car insurance and he is on mine, however since this is not a credit application this should not link us, is that correct? My credit score is very low and his is excellent, however he was recently declined for credit and couldn’t understand why. I now believe it is the association with me. How can I get this association removed from both of our files?

    Reply
    1. CreditExpert Stuart

      Hi Vanda,

      I understand that finding a financial connection that you did not expect, especially as you have never had an account which you have been joint with.

      It is possible that when you applied for the car insurance together that during a credit check the link was created. The good news is that you are able to remove this association from your report. You can find the form for this here.

      Kind regards,
      Stuart

      Reply
  51. David

    My wife is American and has only been living here for a few years so has a fairly low credit score. I am about to remortgage my property, mortgage is currently held in my name, but would making a joint application improve her rating? My credit score is high and the LTV on the property is low, so I don’t feel it would harm my chances. I’m particularly thinking about the future here as in a few years time we will buy a new property and as we will be seeking to borrow far more and as we will definitely need a joint mortgage her rating will factor in more. Are there any other ways she can improve her rating? She can’t be on the electoral role, which I guess must negatively affect things?

    Reply
    1. CreditExpert Neil

      Hi David, if you open a joint mortgage with your wife it would help her Experian Credit Score in the long run (as long as payments are kept up to date of course) although she may see a short term drop while the account is new.
      Having well run accounts on her report will help her Experian Credit Score, with some utility accounts and mobile phone accounts appearing on reports now, it can help to improve a report by having these in your name to build a UK credit history.
      Kind regards Neil.

      Reply
  52. Mandy Jenkins

    Hi

    My mum is currently requesting that she be a shared cardholder on my current account, I already have her as a shared cardholder on my Barclaycard, my question is:

    She hasn’t previously had good credit and had a default against her (over 10 years now). In the next 13 months I am likely to be getting a mortgage with my partner, I would like to know if having my mum as a shared cardholder is going to affect my chances of getting a mortgage?

    Any guidance would be appreciated…

    Kind regards

    Reply
    1. CreditExpert Neil

      Hi Mandy. Being an additional card holder on an account, is not considered the same as having a joint account and would not link you financially. As the main account holder you would be responsible for any spending that the additional card holder makes.
      If for any reason a financial connection was recorded by the company should your mother be added as a card holder, then this could be removed by a financial disassociation as long as you have no active financial connection to your mother.
      Kind regards Neil.

      Reply
  53. Daniel

    Hi. Me and my partner are wanting to get a mortgage togeather. However I do have bad credit yet his is 100% clear. Would this go against us ?
    Thanks Dan

    Reply
    1. CreditExpert Joe

      Hi Daniel, if you are apply for a joint agreement then a lender may make their decision based on the credit information across both of your reports.

      Joe

      Reply
  54. Ste

    My girlfriend and I are looking to apply for a hint bank account. I have bad credit and she has good. Would we be declined? The joint account is for bills only.

    Reply
    1. CreditExpert Neil

      Hi Ste, when you make a joint application for credit the lender will look at both you and your girlfriend’s information and then use this to make their decision. If your girlfriend has a good credit history they will take this into account, as well as any negative information on your credit report. It will then be up to the lender as to what decision they make. Kind regards Neil.

      Reply
  55. Vera T

    Hello,

    I had joint bank and utility accounts with my husband; however all of these have been closed. I have my own income indepedent from him.
    Can I get the connection removed if we still live toghether?

    Thanks

    Reply
  56. Sian

    Hi,
    My Partner has a poor credit score which has been down to an issue with BT taking money out of his account by mistake which they have promised to rectify (which hasn’t occurred yet).
    However, we are looking to buy a house together and with myself being in part time work and my partner full time work we have previously been refused a mortgage due to the credit score.
    What can you suggest I/we do?
    Thank you
    Sian

    Reply
    1. CreditExpert Neil

      Hi Sian, if your partner has a copy of his Experian Credit Report ask him to contact us and we will be able to raise a query with BT on his behalf regarding the accuracy of the information. We would mark the entry as disputed when we do so. If BT believe the information is correct he would then be able to escalate this to the Office of the Information Commissioner to make a ruling. Kind regards Neil.

      Reply

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