Changing address a lot and ability to get mortgage

sp5000

Would be grateful for opinions on how the following address history would affect my credit rating and ability to get a mortgage. I've recently been forced to move out of a rented flat yet again and into another.

My address history is:

Address A (with parents): 14 years
Address B (alone): 18 months
Address C (alone): 2 years 5 months
Address D (alone): 0 months

I have been on the electoral roll at each address for the time I was living there and have a clean credit report and stable job of about 4 years whilst building up a bit of deposit. I know there is no clear cut answer and there are many factors to take into account but any opinions as to whether a lender would see that as too unstable? I aim to apply for a mortgage in 18 months to two years from now and hoping to stay at current address until then.

Regards

bigadaj

Its the whole picture that is important, and address stability is only one part. I wouldn't have thought this looks too bad on its own, but other factors such as deposit, ltv, multiplier of salary, credit history etc are more important.

Goldiegirl

When I saw the title of the thread, I thought you'd been moving every couple of months.

Personally, I think your address history looks perfectly reasonable

kingstreet

In our sector, newbuild/affordable, we see applicants with two or three previous addresses in the last three years quite regularly.

As long as your movement can be tracked by your presence on the electoral roll, it should not be a problem.

As bigadaj said, address history alone is not normally an issue. However, if you were applying for 95% and had only been employed for a month or two, then it could be an issue if you had three or four addresses in the last three years.

ValHaller

Many if not most FTB's will have moved fairly frequently. For mortgage lenders, it must be part of the territory. What will matter is that the history is traceable through the electoral role.

amnblog

We see this all the time with our Doctor applicants. it is not a barrier it itself.

kingstreet

Absolutely.

Doctors moving on 1 July 2010, 1 July 2011 and July 2012.

New contracts, new hospitals, new areas.