Hi, I have a question for a family member who is having trouble getting a mortgage.
Her and her boyfriend want to buy a house together and applied to the bank for a mortgage. Unfortunately the boyfriend had a 'black mark' on his credit rating due to something from his uni days, my guess is some kind of loan default, I dont know if it was a misunderstanding or late payment, w/e.
Basically they refused them the mortgage.
She decided to apply for a mortgage herself as she alone can afford the mortgage payments, but on doing so was told that she now has a 'black mark' on her credit rating because she has applied for a joint mortgage with her boyfriend. His black mark is now on her record.
I've never heard of this happening before, is there anything she can do? I dont see how it is fair that her credit rating has been destroyed simply because she applied for a joint mortgage with someone with bad credit.
Her and her boyfriend want to buy a house together and applied to the bank for a mortgage. Unfortunately the boyfriend had a 'black mark' on his credit rating due to something from his uni days, my guess is some kind of loan default, I dont know if it was a misunderstanding or late payment, w/e.
Basically they refused them the mortgage.
She decided to apply for a mortgage herself as she alone can afford the mortgage payments, but on doing so was told that she now has a 'black mark' on her credit rating because she has applied for a joint mortgage with her boyfriend. His black mark is now on her record.
I've never heard of this happening before, is there anything she can do? I dont see how it is fair that her credit rating has been destroyed simply because she applied for a joint mortgage with someone with bad credit.