Credit File after moving house

usedtobeblue

Hi there, hopefully someone can help me, im new so please go easy lol!
I moved house on 02 July 2014 (mortgage with TSB, excellent, quick service) with no major problems. I pay all my bills on time and have never had any defaults or late payments. My husband is exactly the same.
We applied for ahome Improvement loan with Hitachi personal Finance at 4.1% and i got an email to say the loan had been approved subject to 'conformity security checks' however i received an email last night to say the loan was declined due to "Your application was assessed using our Credit Scoring System which uses the information supplied by you, together with information provided by a Credit Reference Agency and a Fraud Prevention Database, on this occasion did not meet our minimum requirements".
I went and checked my credit file with Call credit and to my horror there is nothing on it barr my new mortgage. it doesnt even link to my old address?
Do i need to inform the credit reference agencies of my move or is this something that takes time.

Do you think there is point in appealing against the decision if i can provide proof of address etc or is it best to wait a couple of months? The loan was for £7500 so not a huge amount which is within our affordability.
Thanks in advance for your advice.

Tixy

Getting credit just after moving house can be difficult for this reason.

You can update the credit reference agency your self with your new address (and they will ask at that point your previous addresses for the last 6years), so that would create a link.

Assuming you have informed your bank accounts, credit cards, phone provider etc of your new address then when they do their next monthly update they will provide the new address and would form the link.

Have you applied to be on the electoral roll yet at your new address? Ideally it is best to wait until you are on the e/r and are showing as such on your credit file (you may find that you are offered a better APR on credit if you wait until after your credit files show you as being on the electoral roll at the current address).

Waiting a couple of months would also help demonstrate affordability to the new potential lender.

usedtobeblue

Thank you Tixy, i have notified the electrol roll of my new address but it wont be updated to 01 Sept. I think ill just wait it out until Sept/Oct time and look at my lovely green painted kitchen cupboards until then lol! I really appreciate your response, thank you :-)

MrJester

Yeah whenever moving address, first thing to do is get on the electoral roll, and wait at least a month before applying for credit. Because your file just wont show anything until its all updated. Keep an eye on your credit at least once a month if you can, then you can see what needs to be improved to sort it out.
Follow these instructions:
http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Experian_company_representative

Hi Usedtobeblue,

I hope you are settled nicely into your new home now!

When moving in addition to making sure you are registered on the electoral (as you have done), it is also important to make sure that all the companies that you hold accounts with have been contacted and updated with your new address details. Keep in mind that the lenders may not then update this information with credit reference agencies until the next monthly update.

With all the demands and stress of moving it's easy to forget to update all of your accounts, which can cause problems further down the line. If a lenders sees active accounts at another address they may refuse as they need to be sure that you are applying from a genuine current address.

We have a guide to moving homes and your credit report that can be downloaded here.

Kind regards
Neil

House.buyer.sarah

I moved in April this year, contacted all relavent people , gas, electric, phone , banks the list is endless to be honest and a complete pain when I had no phone line for 4 weeks either !! Contacted Electroll roll by phone and used the electronic one online too.. But still equifax shows my old address and not new one ( has recently said unregistered at this address ) but still no links or mention of new address !! I've since cancelled subscription to equifax not checked the others to be honest so maybe updated on those..
I did however get a 0% credit card and balance transfer card using my own bank so may try there first .. Plus it's 0%
Good luck in your new house just to make you feel better we have a lovely blue kitchen floor with white units and red handles il swap for the green kitchen lol x

densol_2

My Noddle account is near useless - only my married name - no reference to previous address or maiden name. experian and equifax have it all - have you checked their files ?