Credit check question - addresses

massiem

Hello,

My boyfriend and I are hoping to get a mortgage in the very near future. We are first time buyers. We hope to do this fairly quickly as we have seen a property we are interested in. I have been reading around the subject and have a question about the credit checks that mortgage providers will do.

We have been living in a rented house for two years, previously both of us lived (separately) with our parents. We are on the electoral register at our 'new' address and have council tax and utility bills in our name there. We also have a joint account at this address from which we pay rent, bills, food etc.

However when we moved my boyfriend kept his financial products at his 'home' address and hasn't moved them as he felt it was easier to have all financial products connected to a place where you had a history. I have a mixture. My personal current account into which my salary is paid is still registered to my 'home' address, as is my mobile phone contract and a credit card I use for internet spending and the like. This wasn't a considered choice, but more a case of not getting round to it. I do however have a new credit card and a sofa loan registered to the 'new' address.

Having read advice online I was all ready for updating the address details of the products connected to my 'home' address and advised my boyfriend to do the same. However, he then said he was concerned it would look odd if there was a flurry of activity and address changes just before a mortgage application. Considering that the advice, to make sure all products carried the right address, is made with a view to assisting people who were about to apply for mortgages surely this wouldn't be the case?

Can anyone advise on what is best to do in this case? Presuming all else is okay I wouldn't want this one issue to jeopardise an application.

Thanks

kingstreet

It won't matter. As you've been at your current address less than three years, your previous addresses will also be used.

A lender can't see when you changed your address from the details of your accounts.

If you haven't already done so, order all three of your statutory credit files;-

Equifax

https://www.econsumer.equifax.co.uk/...erletter.ehtml

Experian

https://secure.wiseconsumer.uk.exper...x.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-re...pl=regPurchase


The £2 statutory paper files will be fine. Avoid online schemes you have to pay for which give you your inside-leg measurement and call it a "credit score" as this is different to the lender's, the one which actually matters to you...

These will show you the information lenders will see about you and give you a chance to correct any errors.

Experian_company_representative

It would be helpful to have your current credit commitments registered at your current address, particularly if your move to this property wasn't recent. Having open credit agreements at a 'previous' address can look a little suspicious to some lenders. I wouldnt worry unduly about this because, as someone else advised, your credit score will be based on data found at all of your addresses over the past six years anyway. If you provide your new address to those existing lenders now it would generally take around 4-6 weeks to see the accounts on your credit report updated.

James Jones

Pupnik

I still use my parents' address for my banking (shared letterbox and things going missing or being found open on the stairs does not incline me to change this) and did not have any issues getting approved for a mortgage because of it.

bubblegum1985

I was in a similar situation to you with 2 different post address and I got my mortgage no problem at all.

gav_sw20

I applied at the Woolwich and I had something flagged by the UW, it was a store card that was at my parents address from years ago.

massiem

Thanks for your help and reassurance! :j