Postal address / credit profiling

a4251482

I have currently moved address (rented accommodation).

Over the past 5 years I have had around 3 addresses (all rental). Prior to moving in to my new premises I re-registered by bank and c.card statements to go back to my parents.

My question is, now that I have permanent rental address again, shall I revert the bank address etc back to the rental property or just stick with it at my parents address? The reason I ask, is that I took out a loan at the start of the year to consolidate my debts, at the time the bank said that my previous address history wasn’t the best and at the time my Experian report suggest my rating was poor. I have now repaid the loan, my rating is now excellent per Experian, but obviously I have had the misfortune of having to move again due to our landlord selling.

I will be looking to gain a mortgage in due course (I will not be living in the mortgaged property though) and appreciate that the banks will look into this history.

My question is, despite being in rented accommodation will having my banking address as my parents effect anything?

What is the best practice?

Many thanks
Dave

NPHammer

Best practice in terms of having the best possible impact on your credit worthiness is be registered at the same address for as long as possible. And be on the electoral role at that address.

If you think you might be dotting around rental properties until you are ready to apply for a mortgage having all financial accounts at your parents house may be for the best, providing they are happy for you to be on the electoral role at their address.

If you decide to go this route you need to be aware that having utilities or other accounts in your name at another address to your parents will create a link on your file.