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T O P I C R E V I E W
Louise
Posted - 23 August 2008 : 16:55:49 hi there hope someone can offer me some advice if that is OK - I was made BR last September 12th 2007 - my husband obviously lives at my address but hasn't been made BR has a good credit rating or so we thought. He is applying for a loan for a new car and has been told that he will have to pay 19% interest from most of the banks that he has applied to. I think that this is because we share an address and I am listed as BR and therefore he is seen as a credit risk although he has always had good credit in the past. Could the banks high interest rates be due to me? and if so can we sort it out so he isn't penalised? thanks so much
3 L A T E S T R E P L I E S (Newest First)
John
Posted - 23 August 2008 : 18:29:09 Hi you're absolutely right Louise. 19% on a car loan could well be the best anyone will get these days unless taking up special offers.
Posted - 23 August 2008 : 17:45:28 hi thanks will suggest he does that - I do think that banks now just are being careful with loans and lending and it could be that the 19% rate is becoming more and more normal in this climate! Also we share our surname so could be that too thanks for your help
John
Posted - 23 August 2008 : 17:02:07 Hi Louise historically the sharing of an address could have adverse effects but this stopped some time ago.
Your husband should write to Experian or Equifax and request a copy of his credit report. It will cost £2 or you can do it online but it costs more. The report will show everything that is listed to his name and if your BR shows up, or anything else which is not his, he should return the report highlighting the incorrect entries and ask for a "disassociation" from them.
