How does this work?

dude_1

Hi

1) How does credit scoring work? when they take your name, address etc etc do they run that credit score based on that address that one has given them? or can they find other properties one has lived at or has a mortgage on?

(because in USA they ask for ones security number (National Insurance) and run it by that, but in the UK they don't ask for your National Insurance number)

please elaborate

cheers

kingstreet

You give addresses which go back for a number of years.

The lender's check tells them whether you were on the electoral roll at those addresses. If you weren't, expect to be asked for evidence of address during those periods.

If you can't provide acceptable addresses or evidence, a credit scoring lender will probably decline the application.

dude_1

kingstreet wrote: »

You give addresses which go back for a number of years.

The lender's check tells them whether you were on the electoral roll at those addresses. If you weren't, expect to be asked for evidence of address during those periods.

If you can't provide acceptable addresses or evidence, a credit scoring lender will probably decline the application.

if one has a mortgage with a bank e.g. lloyds for a property e.g in london, then some time later one applies for another mortgage but this time goes with halifax and this property is in liverpool but the individual uses e.g. families home address (in liverpool) on the application, could halifax underwriters find the address for the property in london on experian? if so how do they do it?

thanks

DominicJ_2

Because your bank account, credit cards ect will have moved, and that is recorded.

Thrugelmir

Halifax and Lloyds are subsidaries of the same bank.

Angry_Cat

dude_1 wrote: »

if one has a mortgage with a bank e.g. lloyds for a property e.g in london, then some time later one applies for another mortgage but this time goes with halifax and this property is in liverpool but the individual uses e.g. families home address (in liverpool) on the application, could halifax underwriters find the address for the property in london on experian? if so how do they do it?

thanks

I would advise to be completely honest with any and all information that you provide to the lender. Anything else could be paramount to fraud and if recorded by CIFAS it will prevent you from obtaining credit

getmore4less

Credit records in the UK are on the person.

address is just one of the items in the records.

dude_1

Angry_Cat wrote: »

I would advise to be completely honest with any and all information that you provide to the lender. Anything else could be paramount to fraud and if recorded by CIFAS it will prevent you from obtaining credit

I am not dishonest to anyone, just a matter of question how both system work and curious, i would never ever fraud anyone, one is against the law and two is against my morals,