I don't believe it has an effect on the address, but only on the individual. Unfortunately however it may not help matters with other residents.

Hi graham.

Your son's creditworthiness will only have been affected if you've been financially associated in some way in the past. A joint bank account would be an example.

If that's not the case there will be a different reason why his loan application was rejected.

It would make more sense if lenders provided some sort of indication as to why loans are rejected as this would at least allow you to look at any issues.

Mark

I've read about some very curious reasons for credit rejections.

For example, people who historically pay off their full credit card balance every month being turned down for new credit cards. The reason being that this isn't necessarily as profitable for the credit provider as they'd like.

I'm therefore not sure that they'd want to reveal their acceptance criteria in full. Such criteria are set with the intention to produce a profitable book of lending, not always just on whether a debt is likely to be repaid.

I think many banks are being very cautious at the moment, so there might be any number of reasons why your son's application was turned down, Graham - your status shouldn't be one of them though as long as you have not had joint credit with him previously.

That's exactly it, there is no financial gain to lend to someone who is on paper likely to pay it back. No risk. I remember getting denied a credit card when I first left home for that very reason. I had not built up much credit and that which indie was paid back quickly.

Graham, can you check the reason again? Having a high credit rating should be okay.

I suspect it's possibly said low rating or high debt?

As it has said - you or somebody - then that would indicate you have Financial Associate at the credit bureaux. It doesn't point to which one is causing the decline, but does indicate you've been "scored" along with one or more person.

Does it say which bureau is being used?

Check that bureau.

Do you have a Finanical Association with him. Note, applying for anything creates a FA, you don't not need have a product. Also, it could be related to something from years back. Mobile phone?

If you do find a FA, and you have then links then you'll need to do a notice of disassociation with all bureaux.

Check they haven't got your date of births mixed up on products.

And if you have the same first name, that's a shoe in for credit file confusion.

If you don't have the reason. Binned the letter in anger? Call the company and ask for it again.

If it turns out you do have a FA with active products then that's pretty much the decision.

And I agree with Mark. Decisions should be a letter clearer. "We are unable to lend to you because we are not giving you a loan" is pretty much standard.

Have a search for the Lending Code to learn more of your rights in getting to the bottom of this.