Credit Report Change of Address

goglebug

My Dilema - I'm in my mid 20's and ready to start thinking about getting on the housing market. In the Last 8 years I have lived in 7 different places renting due to training for my chosen career. Now in all that time although I have been paying council tax at each place, I have only registered on the electoral roll in 3 of them. Also I have kept all my Bank Accounts, and any other "important" documents registered at my first address that of my parents.

Will this be negatively affecting my credit rating as i am sure it will look like a confusing situation. If so how would you suggest i put it right? Before I start looking for morgadges ect.

reclusive46

It will look as though your not financially stable to creditors, moving around all the time.

rb10

If your bank accounts have all been registered at your parents' address, then this is the only address that Credit Reference Agencies will know about for you.

They will, however, see that you have not been on the electoral roll at that address for some years, which will count against you.

lisyloo

Moving around will count against you.
Not being on the electoral role will definitely count against you.
Not having any credit history where you live will count against.

What can you do about it?

Depends how far you want to go.
Ultimately the best thing would be to move back in with your parents, but we can't all alter our lives for the sake of our credit reports.

In practice you need to get on the electoral role at the address you live and start getting credit history at the address you live.
That means starting with sub-prime credit cards or one from your bank, mobile phone contracts, catalogues etc. You pay off each month to get good history then you can work your way up.
If course income is important too.

ohrosannababy

i am in a similar situation. i am also in my mid 20's, have changed address a lot over the last 7 years (due to college, university, and later work) but have always kept my bank and credit cards registered at my parents home address for ease. i know that this will be detrimental to my credit rating and i'm currently in the process of trying to rectify everything going forwards. however, my question is this:

i am currently renting a flat, and we regularly (at least every other day) receive letters and visits from "bailiffs" (they are not actually bailiffs as they have no court order, but credit agencies that buy debt and try to scare people into paying). these visits and letters are not for me or my partner, but the previous tennants. all the post you could think of (bank, credit, dvla, personal, etc) are all still arriving at our home, but as the previous tennants rather suspiciously disappeared to austrailia without any explanation to the letting agency or landlord, there is no way to contact them and ask this to be changed. is there anything else i can do to remove them from being listing as living at our flat still? and if not, should i still change the addresses on my account to the flat? i don't want my credit to be further impacted my the credit history of the previous tennants. i'm so worried about doing the wrong thing and regretting it, as we are hoping to get on the property ladder in the next 18 months!

any help would be great, thanks so much!

zerog

Don't worry, your credit history will not be affected by the previous tenants.

One problem with moving house every year is that even if you register to vote, you might not be living there by the time the council sends the electoral roll to the credit agencies! This is the reason I keep getting rejected for the subprime cards, despite having an otherwise good credit history (e.g. HSBC tripled my credit limit, and when I asked why they said because I keep spending up to the limit every month)