Does it help you your partner has good credit when applying for a bad credit mortgage?
While it can help if one partner has a good credit score, most high street lenders will typically score the mortgage on the worst credit score out of any of the applicants meaning any bad credit showing will result in the mortgage being declined. Unfortunately, even if one applicant has a perfect credit score an application can still be declined if the other applicant has had some credit issues in the past.
Hope is not lost! Some of the adverse lenders will take a more sensible approach and will assess an application on its own merits, this can be beneficial if one applicant has a good score as this can boost the overall look of an application in the eyes of an underwriter. Depending on how bad your credit history is if your partner has a good credit rating it may be enough to help get your application agreed.
It is important to bear in mind that you will still need to jointly pass the lenders criteria in terms of both affordability and credit history. We would always recommend that speak to an expert mortgage adviser as early as possible to ensure to don’t further damage your chances of obtaining a mortgage by applying to the wrong mortgage lenders.
Whatever your circumstance, if you need help obtaining a bad credit mortgage speak to us today and we will offer you free advice and guide you to your most suitable options. For fast, free, whole of market, bad credit mortgage advice contact us today on 01604 328 091!!!