Hi there, trust deed finished in Sept 2016 and I recently got added to my partner’s bank account as a joint account is much easier for us. My partner applied for a loan with said bank in his own name and got declined. The bank said it was something to do with his credit file but didn’t say exactly what. Is it because I am a financial associate with my TD still showing?
Hi Lorryjo1983.
There’s any number of reasons why a loan applicant could be turned down, so it’s not possible to directly answer your question.
A joint financial arrangement will link your credit files though, and anyone checking that credit file could follow the link.
Some banks would be concerned if a financially interdependent person had a poor credit rating. It’s an extra risk factor for them to consider.