mortgage what is classed as my home address

phil1986_2

I recently have been declined for a loan for a mortgage. I have no bad credit so cnt figure out why, only thing i can come back to is that im not on the electrol roll, and all my banks/store details are still at my parents. does any one no what is class as your home address. is it current address or billing ?

Premier_2

phil1986 wrote: »

I recently have been declined for a loan for a mortgage. I have no bad credit so cnt figure out why, only thing i can come back to is that im not on the electrol roll, and all my banks/store details are still at my parents. does any one no what is class as your home address. is it current address or billing ?

Being on the electoral roll is one of the key things lenders look for.
Get yourself registered, pay the council tax, then in a few years (lenders like to see you have been registered a few years, and don't keep moving) someone may lend you some money.

holly_hobby

Main residence classed as where you have your bank account/s, credit facilities etc, registered, and where HMRC have you registered.

Going on the voters roll will help, but you need to also transfer the above & any credit commitments to your main address - as these will all be picked on a credit ref check (as a related address and still cause your problems/delays if unchanged)

Hope this helps

Holly

phil1986_2

Hi

Thanks for your reponoses, well i have been paying council tax for over 3 years at the house i live at but as was rented just never switched anything else over. I am currentley looking at a house so preferable want to do something fairly quickly. Would it be worth apply for a mortgage stating my home address is were my bills are registered to rather than where im living or would that just throw in more problems for lenders.

Also if i changed over my details over how long would I roughly have to wait before applying for a mortgage

thanks

Leon_W

Your home address is where you live, it really is as simple as that.

Don't try and be clever and give different addresses as your story will unravel at some point possibly leading to a black mark on a big brother computer somewhere.

The fact your bills go to a different address happens all the time so I wouldn't worry about it. Lenders will ask for proof of address for money laundering purposes and you have the ideal paperwork for that. A council tax bill with a correct name and address ! Don't mess it up.

holly_hobby

Good you have a council tax bill in your name at the property - that should go someway to satisfy their POR requirements.

The lender to tie up loose ends and satisfy themselves, may ask why any bank accounts or credit accounts haven't been transferred to your main address - just tell them the truth, and that there is nothing sinister in their remaining at your previous address.

Holly

Apples25

I am in the same situation- been renting for 4 years, moved about a bit, but keep all finances at parents' address. Am on electoral roll at parents' address too and not where I rent. Do you think I should apply using my parents' address?

There must be a lot of us in this situation!

vacheron

I had a similar situation where I had all of my "address specific" bills (water, energy, council tax, car insurance) coming to the house we were renting. But anything that wasn't address specific (payslips, banking, credit cards, mobile phone, pensions etc.) were left registered at my parents.

We called our "home" address the one we were living at (renting) during the mortgage process, but apart from a year or two of bills and council tax payments there was no credit or banking history linked to it.

As we lived in 2 rented addresses over the previous 3 years we had to give a third previous address during the application process. As this was my parents house perhaps the system was able to link it all together and we seemed to be accepted without any problems.

It is worth noting that at the time of application I had only been registered on the electoral roll for one month after being a "non-entity" for 3 years as the folks had taken me off the home address and not bothered to tell me! This seemed to make no difference whatsoever though!