Living with family - to update addresses or not?

heathersnewhome

I am in the process of selling my flat, where I have lived for the last ~5 years.

I will be moving temporarily to my partner's family home, while we look for a house to purchase together. Depending on when we find a property, we may be staying for anything from 3 months, to 12+ months.

Question is: if I change all of my bank accounts/driving licence etc to the temporary address, will I be at a disadvantage credit-wise when looking to get a mortgage?

OR, would I be worse off to leave the address(es) as they are, and have to apply for a mortgage with proof of address for a property that I no longer live in?

Any advice appriciated!

martinsurrey

If you don’t get put on the electoral role for 12 months at the new address it WILL look bad (as the new owner of the flat will remove you).

If you get put on the electoral roll at the new house but don’t change all of your addresses (bank, credit card, loans etc) it WILL look bad.

In short, change everything.

G_M

If you think it will be a few months,you could rely on Royal Mail redirection. But bear in mind about 5 - 10% of mail will still be (wrongly) delivered to the old address.

If the new owners are friendly/reliable this might not matter....

If it's likely to be longer, I'd notify everyone.

I don't think either method will affect credit rating provided you give all previous addresses, but someone better informed might contradict me!

heathersnewhome

martinsurrey wrote: »

If you don’t get put on the electoral role for 12 months at the new address it WILL look bad (as the new owner of the flat will remove you).

If you get put on the electoral roll at the new house but don’t change all of your addresses (bank, credit card, loans etc) it WILL look bad.

In short, change everything.

Thanks martinsurrey - thought this might be the case - I was wary of having too many addresses on my credit report but I'm assuming this advice is aimed more at regular movers - I'll have 4 in the last 10 years.

Already have a 12 month mail redirect in place to catch anything I haven't thought to change.

penthouse89

Please remember you can face a HEFTY fine for having the wrong address on your driving licence!