Understanding Credit File - Experian

CreditCrunchie

Thrugelmir wrote: »

If a borrower maintains annual registration on the electoral roll (6 years) then a current period should not be an issue.

Many people trip up as they don't bother registering until they wish to borrow for a mortgage. So too late in the day.

I've registered every single year, and every time I've moved (unfortunately 3 times in the last 6 years), and in that time I've never had a smooth transition into the ER. Each time it takes months. Perhaps if you live in the same place for years and years then this is not an issue (although I've read many posts on here saying otherwise), but if you rent and keep having to move then that's certainly not true.

Thrugelmir

CreditCrunchie wrote: »

I've registered every single year, and every time I've moved (unfortunately 3 times in the last 6 years), and in that time I've never had a smooth transition into the ER. Each time it takes months. Perhaps if you live in the same place for years and years then this is not an issue (although I've read many posts on here saying otherwise), but if you rent and keep having to move then that's certainly not true.

All lenders require is a continuous history. Of course they'll be delays in registration that's not an issue which can't be overcome though.

CreditCrunchie

My point was there should NOT be a delay. This information is so important to people's lives, it should be a priority for anyone dealing with it to ensure it is 100% accurate at all times.

I realise I am just one in a long line of people over the years complaining about this (as I've only just begun looking at the whole area of credit etc), and that actually makes it worse! WHY has this issue not been addressed yet?

How do you feel it can be overcome though? If you mean notices of correction, all that does is delay crefit applications, and I'm not sure they actually make all that much difference as most lenders just auto decline without ER info. If you mean overcome by not moving, then that is not always possible.

I should make it clear though I'm not just talking about borrowing money, but things people need to do all the time like rent a house, hire a car, open a bank account, and in some cases get a job!