Moving abroad and my credit rating

grant2b

I may be moving to France from the UK later this year an i'm just wondering how this will affect my credit score and if there is any advice to maintain it.

I will need to open a bank account there, but should i keep my UK account open, and my UK credit card?

Will my Bank (HSBC) and credit card issuer (Barclaycard) allow me to keep my accounts and change to a French address?

Thanks in advance.

VictimOfImpersonation

Do you not have a secure UK address you can use while you are away - one where you can be put on the electoral roll also?

Strictly speaking if you declare to a bank that you are no longer a UK resident you are denied most standard UK banking products and you do not qualify for ISA except in a few special circumstances. Better to be a dual resident but don't try to discuss that with a UK retail branch!

In most cases you can turn off paper statements and rely on the internet to keep your existing accounts monitored and ticking over.

Keep some turnover going in your UK current accounts via monthly Standing Orders or regular one off transfers between them and simply pick up where you left off when you get back.

I am aware of no method of "freezing" your UK credit status for use later :rotfl:

Could be wrong though !

Buzby

Your file will be linked when you give your UK address irrespective of what country you go to.

Ant.Evs

As much as VictimOfImpersonation is usually a bit potty about things, on this occasion i actually 100% fully agree with him. So if you can do what he said :beer:

I'm not sure what buzby means though?

Sammie22081

grant2b wrote: »

I may be moving to France from the UK later this year an i'm just wondering how this will affect my credit score and if there is any advice to maintain it.

I will need to open a bank account there, but should i keep my UK account open, and my UK credit card?

Will my Bank (HSBC) and credit card issuer (Barclaycard) allow me to keep my accounts and change to a French address?

Thanks in advance.

Hi Ant,

I have just got back from Australia after 2 years and my credit score dropped from 999 to 400 (green to orange), I have spoken to Halifax and they have advised that it was because I wasn't on the electoral roll and being I didn't use any credit whilst I was away.

Would be worth ensuring your on the electoral roll whilst your away and keep a form of credit active e.g. magazine subscription.

Hope this helps! I am currently in the process of building my credit back up before I apply for a mortgage. Don't make the same mistake I made :-)

Thrugelmir

Sammie22081 wrote: »

Would be worth ensuring your on the electoral roll whilst your away

Maybe difficult to tie into the employment record for the period. Application fraud simply isn't worth it.

VictimOfImpersonation

Thrugelmir wrote: »

Maybe difficult to tie into the employment record for the period. Application fraud simply isn't worth it.

In what way is remaining on the electoral roll at a UK address "Application Fraud" ???

Sinhanada

VictimOfImpersonation wrote: »

In what way is remaining on the electoral roll at a UK address "Application Fraud" ???

It would depend on the application you made - if you implied that you had lived at certain addresses during a certain period and did not then that is fraud

Ant.Evs

Sammie22081 wrote: »

Hi Ant,

I have just got back from Australia after 2 years and my credit score dropped from 999 to 400 (green to orange), I have spoken to Halifax and they have advised that it was because I wasn't on the electoral roll and being I didn't use any credit whilst I was away.

Would be worth ensuring your on the electoral roll whilst your away and keep a form of credit active e.g. magazine subscription.

Hope this helps! I am currently in the process of building my credit back up before I apply for a mortgage. Don't make the same mistake I made :-)

I personally would stay on the electoral roll at a uk address if that option was available to me. I cant see how being on the electoral roll at an address is fraud but again i personally wouldnt worry about that either.

Hope that helps