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Partners adverse credit
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if my partner has adverse credit and i take out a mortgage with her. will i 'inherit' her bad credit?
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For more on marking an answer as the "Best Answer", please visit our FAQ.If your partner has bad credit and you have good and you enter into a financial agreement together - you don't automatically inherit her bad credit name I don't believe. However, you are linked by the agreement so should her bad credit continue - you'll be linked in that way as it'll be under both of your names.
If for example, your partner is �10K in debt and you take out a mortgage, I believe she could add another �10k on to the mortgage to pay off the debt and you can have something written into the mortgage by the solicitors that the additional �10k belongs to her - and it can be worked out that she has to pay slightly extra than you per month for the repayments.
That's only my guestimate though - if you're never sure with these things it's always best to speak to somebody like an independent financial adviser, as they'll be more aware of how it works.
If for example, your partner is �10K in debt and you take out a mortgage, I believe she could add another �10k on to the mortgage to pay off the debt and you can have something written into the mortgage by the solicitors that the additional �10k belongs to her - and it can be worked out that she has to pay slightly extra than you per month for the repayments.
That's only my guestimate though - if you're never sure with these things it's always best to speak to somebody like an independent financial adviser, as they'll be more aware of how it works.
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