Linked Addresses

Pooley

Hi,

I've just been refused for a £5.5k loan from Sainsbury's. I've since checked my Experian credit rating and it appears fine, everything is green, no missed payments etc. However, i have 24 linked addresses! Could this be why i was refused? And if not, are there other competitive lenders that are more likely to lend?

Thanks

Pooley

zppp

Pooley wrote: »

Hi,

I've just been refused for a £5.5k loan from Sainsbury's. I've since checked my Experian credit rating and it appears fine, everything is green, no missed payments etc. However, i have 24 linked addresses! Could this be why i was refused? And if not, are there other competitive lenders that are more likely to lend?

Thanks

Pooley

24 linked addresses :eek:. That is the most I've heard of! Have you got any joint financial links on your credit file? It's just that if you have been at all of those addresses you may be inadvertently linked to somebody.

immoral_angeluk

Are all the addresses correct, and ones you or your financial associates have lived at??

PROLIANT

I have 48 links.
All to do with variations of my address.
Not a problem as long as no bad debt listed under any of the links.

Pooley

zppp wrote: »

24 linked addresses :eek:. That is the most I've heard of! Have you got any joint financial links on your credit file? It's just that if you have been at all of those addresses you may be inadvertently linked to somebody.

Hi,

Since i started Uni ten years ago i've lived at 10 addresses and each house is linked to the next, plus the majority are linked to my parents too. So there are two or three variations for each house... if that makes sense.
If that doesn't usually affect your rating - does a £5.5k loan for someone earning a £25k salary seem like an amount likely to be refused, in the current climate?

Thanks

immoral_angeluk

Pooley wrote: »

Hi,
If that doesn't usually affect your rating - does a £5.5k loan for someone earning a £25k salary seem like an amount likely to be refused, in the current climate?

Thanks

It's not as straight forward as that.

Do you have any other debts? How much debt are you using vs your available credit? Any missed payments/ccjs/defaults? How long have you been with your employer?

Pooley

immoral_angeluk wrote: »

It's not as straight forward as that.

Do you have any other debts? How much debt are you using vs your available credit? Any missed payments/ccjs/defaults? How long have you been with your employer?

I've got one credit card with £2.2k on there and i'm £1.2k over my o/d on my credit card, but no missed payments, ccjs or defaults. Been with my current employer for 3 years..............

Thanks

standupguy

24 linked addresses will be sufficient to decline an unsecured loan as shows lack of stability - would you lend someone £5k, with just a promise to pay back (no hard security) who has 24 previous addresses? Would you know where he will be living next week and then the week after?
Would you be forever chasing him from address to address if he fell into arrears?

Also, how many of these linked addresses did you declare in the application - if it asked you for say the last 3 years addresses for example did you give them all? If not that is sufficient reason to decline

immoral_angeluk

standupguy wrote: »

24 linked addresses will be sufficient to decline an unsecured loan as shows lack of stability - would you lend someone £5k, with just a promise to pay back (no hard security) who has 24 previous addresses? Would you know where he will be living next week and then the week after?
Would you be forever chasing him from address to address if he fell into arrears?

Also, how many of these linked addresses did you declare in the application - if it asked you for say the last 3 years addresses for example did you give them all? If not that is sufficient reason to decline

If it's 24 seperate addresses then yes I completely agree. If it's 24 variations of the same address though I doubt it would be an issue.

TMoose

I have 100 linked addresses.

I can assure you that I have only lived at 7 physical locations since 1996. How different companies handle "flat" addresses (3F2, 3FR, 3/6, Flat 3F2, Flat 3R are all the same in Edinburgh...) seems to be the problem.

I have no idea how this affects credit eligibility, but I'm not running 100 different credit files to check all those!

standupguy

immoral_angeluk wrote: »

If it's 24 seperate addresses then yes I completely agree. If it's 24 variations of the same address though I doubt it would be an issue.

Yeah - take your point and looking at it again I note the op admits to 10 different addresses which will be sufficient to put lenders off.