Electoral Roll/Credit Score

claireybee

Hi,

I was registered on the electoral roll at my previous address until around 18 months ago when I moved in with my new partner. I did not register there as I did not know how long we would be living there. We have recently moved in with my parents to help save for a deposit and I have just re-registered at this address on the electoral roll. This is not yet reflected in my credit score so I am only classed as 'good' on Experian and 'fair' on Equifax. My question is this; how long should it take for my credit score to improve taking into account that I am now registered on the electoral roll? Also, will mortgage lenders be put off by the fact that I was previously not on the electoral register for around 18 months?

Thanks

The_J

It might hurt you a little but depends on the level of deposit. 15% or more you should be fine.

betmunch

Also worth pointing out that Lenders dont care if Equifax and Experian rate you as good or fair.

They will make their own minds up using their own formulas

star4876

it may damage the score a bit but not drastically i wouldnt have thought. its only if you are applying for credit and getting refused due to lack of electoral registration that your score really starts dropping

phone your local council and ask them how often they do their updates. a few years ago my LA told me they only ran an update once a year, and it really messed me up! i applied for a few cards and got declined, then it wrecked my rating! best to double check

claireybee

Thanks so much for your replies. I contacted my LA office last week and they said their next update would be 2nd April so hopefully it should be done or in the process of getting done by now. Aside from this myself and my partner's credit should theoretically be very good as we have no late/missed payments etc. Fingers crossed it won't be too much of a problem then!

Experian_company_representative

Have a look at the tips we provided along with the score. They should give you some pointers on building your score up further. Lenders don't see this score but we do help many lenders build their scoring algorithms, so it will be a useful indicator.

James Jones