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Financial Associations - What you need to know

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If you are married or living with a partner, it’s likely you’ll be financially connected. Maybe through a joint mortgage, or joint bank account. Once you are connected, you have what is known as a ‘financial association’, and this means that when you apply for credit, even if in your sole name, your partner’s credit report is merged with yours and the assessment will be done on your combined financial situation.

What many do not realise is that the financial association remains if the relationship breaks down, even if the financial connections no longer exist. In those circumstances, it is up to you to ask for the financial association to be removed from your credit report. Otherwise the financial association will remain on .....

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