concerns regarding credit checking when applying for a mortgage

ceo_of_crazy_thursdays

i'm getting a little stressed about my mortgage application that i will be going through with my FA on tuesday.

i am looking at buying a 25% share of a £186,000 house, through the shared ownership (new-build homebuy scheme).

the numbers add up and this shouldn't be an issue when determining whether to lend the money.

i am in a pickle, however, regarding the credit check due to my current address- i am currently in rented accomadation (12 months this month), and although i cannot prove my theory, im pretty certain the house is blacklisted due to the previous tennants never paying bills. my initial thought was to simply apply for the mortgage through my parents address (as i am still listed on the electoral register there). i applied for a decision in prinicple through the Leeds Building society to my parents and had an acceptance within about 30 mins for the money required; as of 5pm that night though, they pulled this mortgage offer from the market leaving me back at square one.

it was only yesterday that i realised this was not a good decision anyway as the housing association, and thus housebuilders details of me, were at my current rented address.

the long and short is that i am having to apply for my new mortgage (through the woolwich), with my current rented address as residence now, and my parents as my previous (where i am on the register).

i want to know whether not being on the register in my current address will affcet my score and their likelyhood to lend, and whether the house itself will have any baring on the decision.

i have spoken to a friend who deals with experian in his day job and he has tried to reassure me that the address is simply used to identify you, so assuming i put my registered address in my address history for the last 3yrs it shouldn't have an impact... doesnt stop me worrying though.

anyone else had any experience with this issue, or knowledge that will help settle my nerves?

Thanks.:T

herbiesjp

No it shouldn't affect you

You need to apply using the address that you have proof of address for.

So if all your utility bills and bank statements etc are at the rented property you need to use that address

MYLITTLESISTERLOLA

As far as I'm aware an address can't be blacklisted as its person specific. When we moved in here 4 years ago th previous tenant had left a mess of credit behind, BT were the only ones when had a problem with, thy request to see the new tenancy agreement and ID to make sure it wasn't the same person applying under a different name. I would say your problem is the electoral role as far as I'm aware it's very important when applying for credit and if its listed at a different address that could be why credit is hard to get, hope this helps MLSL

ceo_of_crazy_thursdays

thanks for your responses.

my fa told me that there shouldn't be a problem as long as i can prove both addresses.

well i have a bunch of utilities stating my current address, and have more important docs such as bank statements and sharesave certificates that i still get sent to my parents address to prove that address (and my electoral registered address).

according to my wise old friend, experian/equifax/the other one, all use you address to simply verify your information. Once they have a registered address and that tallies with a previous address on the mortgage application, the credit score is then run based on those details..?

is this right?

ceo_of_crazy_thursdays

herbiesjp wrote: »

No it shouldn't affect you

You need to apply using the address that you have proof of address for.

So if all your utility bills and bank statements etc are at the rented property you need to use that address

so assuming i have some utilities to prove my current (non registered address), and some bills (bank statement/shares etc) from my parent's regsitered address, i should be ok?

happybroker

you need to apply using the address you live at otherwise it's fraud. You sound like you have proof of address for you current add anyway with bills so that's will be ok. Your passport will prove your id and Woolwich will probably take the voters roll as proof for your old address.

Listen to your friend

herbiesjp

ceo_of_crazy_thursdays wrote: »

so assuming i have some utilities to prove my current (non registered address), and some bills (bank statement/shares etc) from my parent's regsitered address, i should be ok?

As I posted above - you need to apply using the details of the address you currently live at.

So if all your utility bills and bank statements etc are at the rented property you need to use that address

As you then have proof of that address via utilities, you should have no problem with the application

ceo_of_crazy_thursdays

thank you both.

i could probably do without being sent to prison for fraud!:rotfl:

hopefully everything will be fine!!