changing address while applying for mortgage

melysion

Hi - I'm in the early stages of buying my first flat. I'm renting at the moment but will need to leave on 15th May. I'm going to stay temporarily with a friend but how might a change of address at this stage effect a mortgage application?

I'm not even sure whether I should stop paying for council tax etc until its all gone though.

any advice much appreciated!!

The_J

It shouldn't necessarily be a problem, lenders are more sympathetic to it these days. You certainly want to apply before you move, after you move make the lender aware of the change of address. If you apply after you have moved it will affect your credit score.

HappyMJ

melysion wrote: »

Hi - I'm in the early stages of buying my first flat. I'm renting at the moment but will need to leave on 15th May. I'm going to stay temporarily with a friend but how might a change of address at this stage effect a mortgage application?

I'm not even sure whether I should stop paying for council tax etc until its all gone though.

any advice much appreciated!!

It will not affect it at all. Do not worry. If you no longer live at the flat after 15th May then notify council, stop paying council tax and ask for a refund on any excess payments. You do not have to pay council tax to get a mortgage. It is not a requirement. The non-payment of council tax does not appear on your credit record.

melysion

The_J wrote: »

It shouldn't necessarily be a problem, lenders are more sympathetic to it these days. You certainly want to apply before you move, after you move make the lender aware of the change of address. If you apply after you have moved it will affect your credit score.

OK, well I have already applied - currently sorting out valuation date etc. All rather nerve-wracking!

The_J

HappyMJ wrote: »

It will not affect it at all. Do not worry. If you no longer live at the flat after 15th May then notify council, stop paying council tax and ask for a refund on any excess payments. You do not have to pay council tax to get a mortgage. It is not a requirement. The non-payment of council tax does not appear on your credit record.

The CCJ they would inevitably slap on you would.

melysion

Well, i have no intention of not paying my council tax!! lol. I was just wondering whether I'd be better off keep paying it at my current address rather than change things while the mortgage application is going though.

My mortgage is with Santander so I dont have high hopes of it being agreed (or not) within two weeks.

Its all very confusing and worrying. after all, its hardly my fault I need to move right now ... tenancy agreement just happened to finish at this point.