Credit report advice - 2 addresses

oceanscape

I own a home (with a mortgage) and also rent a flat.

I split my time pretty much equally between the 2 properties.

I have rented the flat for 3 years. My bank account and credit cards are registered to the flat and I am on the electoral roll.

I purchased the house 6 months ago. My mortgage is not currently showing on my credit reports (presumably because of then address?).

My question is whether it is worth me also registering on the electoral roll at the house? And whether I should change my current account and credit cards to this address and/or make future credit applications under this address?

Is it detrimental when applying for credit to have 2 addresses/electoral roll registrations? Obviously my main issue is that I assume I'm more likely to be accepted using the flat address as it has a longer history than the the new house?

Any advice? Thanks!

mnj1x

I have posted a somewhat related query:
https://forums.moneysavingexpert.com/discussion/4452785

Have also emailed Experian asking how do people like students or servicemen handle 'dual addresses' in their credit applications.

oceanscape

Just bumping this up for any input. Thanks!

The_Boss

What is the address format of your flat? Is it something like 10 Mandela Court, 45 High Road, *Town, county postcode* in that format?

oceanscape

The_Boss wrote: »

What is the address format of your flat? Is it something like 10 Mandela Court, 45 High Road, *Town, county postcode* in that format?

Yep, exactly that.

Hazzinho

Move everything to your house, it will link the properties,a mortgage paid on time is positive, you need one main address not two, long term it will boost your credit worthiness.

oceanscape

Hazzinho wrote: »

Move everything to your house, it will link the properties,a mortgage paid on time is positive, you need one main address not two, long term it will boost your credit worthiness.

My problem is the short term. Need to apply for a loan in the next month or so.

The_Boss

oceanscape wrote: »

Yep, exactly that.

Ok. I posted this in another thread recently so copying it here as I believe it may be the case with you too. The problem could be the way the mortgage company stores your address and not matching the one on your credit file. The address on your credit reference files needs to match the ones held by the financial institutions. You can always ask the CRAs to use variants of your address to pull all data through.

Be very careful if you have changed your address from a conventional one (e.g. 12 The Drive, Potters Bar, Middlesex) to something like "10 Sovereign Court, 45 New Road". I changed my address to one that had an address format like the latter. Because different companies store this address in different ways, and because the PAF locates the postcode to the block and not flat number, when I checked my credit report a large number of my accounts had not pulled through to the new address, meaning my credit file was incomplete and lenders would have seen account history for only a few products.

zerog

Do you plan to live in the house? or continue renting the flat? If you are going to move to the house, then do all your short term applications at the flat now. After that move everything to the house.

If you are going to keep the flat and rent out the house - then just stick with the flat and if declined, you can appeal with extra info about the house and your regular on time mortgage payments.

I don't think homeowner or tenant really changes much, except possibly for capital one where they specify homeowner as one of the positive criteria.

Electoral roll - you can be registered wherever you live (in practice I think that means 2 addresses), and can vote in all local elections but are meant to only vote once in a general / EU election / referendum - not sure how they can enforce that though.