Electoral Roll, Shall I update?

marginex

Hi Everyone,

Planning towards getting a mortgage in the coming months.

Since moving out of my parents several years ago I never updated my address with the bank etc as I moved around a fair bit, so im on the electoral roll as my parents address an that reflects on my current credit report.

Ive been with my wife at our current address for over two years now.

Now the question is as everything such as bank/credit card and electoral roll is at my folks address shall I bother updating before applying for a mortgage in a few months to my actual current account? That involves bank, credit card and electoral roll.

Would it benefit me? I've been working on improving my credit report and its on the up as i had a lack of credit history, no debts etc.

Would it been seen as a negative if I change my address?

Thank you.
Brett

Blackpool_Saver

Have I got this right, you are a married man living with your wife and all your financial affairs are listed at an address you left 2 years ago, including insurances for your car etc, driving licence,vehicle registration and all that...... what about things you have at this new address, what address are they at? I would be scared of being done for fraud myself. Unless of course this is a wind up.....

barbarawright

So are you planning to use your current address or your parent's address when you apply for a mortgage?

marginex

Ok lets calm down not sure why the word "fraud" is being used!

As stated only the things listed are at my parents address (banking), car insurance etc all at my actual current address!!

If I thought i was committing fraud do you think I would post publicly about it, I even said to my bank just the other day im looking to change address as its been my folks for all these years, and they replied thats fine everyone does it! Also remember the address is my currents parents address which I see nearly everyday! Not some random persons!

Barbara, this is my question im asking the best way to do this for my credit file, im happy to change everything over to my current address but cant afford damage my credit scoring, I just wondered how its seen when you change an address?

Thanks
Brett

Gordon_Hose

Changing your address doesn't harm your credit file.

It is a legal requirement to complete the electoral register forms sent to your home address.

marginex

Thank you Gordon.

Is it as simple as filling in the form for the Electoral Roll and chaning address details at the bank? With the credit agencies form the connection? My father has a form asking for latest details from local council.

Brett

Gordon_Hose

You can go to your local council website and download the forms and send them in.

Your Dad shouldn't be putting your name on his electoral register forms because you don't live there.

You can phone your bank up and change your address. Once everything is updated/changed it will be reported to your credit files which, in turn, will be changed to show the new address and ER inclusion.

adindas

Gordon_Hose wrote: »

Changing your address doesn't harm your credit file.

It is a legal requirement to complete the electoral register forms sent to your home address.

I will be very careful about mentioning this.
The lender will normally expect that borrower will need to be in their current address for at least 2 consecutive years.

For the OP when are you planning to take a mortgage ? If more than two year from now, as mentioned by Gordon Hose you will be better off to re-register your new address with your current council.

But if you are applying in very near future say about 2-3 months from now I am afraid you might be facing a problem with the lender if you are changing your address now as you just have very little history with your new address. Some underwriter will investigate your history with the previous address and some do not want to take the risk ....

Blackpool_Saver

And the moral of the story is to keep you financial affairs up to date. The loon at the bank who say everyone does this is a fool.

Gordon_Hose

adindas wrote: »

I will be very careful about mentioning this.
The lender will normally expect that borrower will need to be in their current address for at least 2 consecutive years.

For the OP when are you planning to take a mortgage ? If more than two year from now, as mentioned by Gordon Hose you will be better off to re-register your new address with your current council.

But if you are applying in very near future say about 2-3 months from now I am afraid you might be facing a problem with the lender if you are changing your address now as you just have very little history with your new address. Some underwriter will investigate your history with the previous address and some do not want to take the risk ....

That is lender criteria though, not a credit file issue.

You could say that changing your address won't harm your credit file, but lenders may not look favourably on it.

To be honest, I changed my address in July and am in the final stages of getting a mortgage (been credit checked etc.) and the lender didn't bat an eye lid at the fact I had just moved.

marginex

wow ok im in two minds now, I plan to get the mortgage in 4 months you see. Shall i change addresses now or just wait till I buy and change everything then??

Im a tough case already as im self employed and having only access to a few lenders, I really dont want to lessen my chances if the address change can do that...

Brett