Electoral roll: impact of frequent house moves?

Astraeus

My latest credit score, whilst I appreciate it being an arbitrary and meaningless marker, has worsened significantly in January 2015 in spite of the only material change being a move into a new rental property (and change to my address on the electoral roll).

On applications one is asked how long one as been at their present address and I am now querying what impact it has to re-register your electoral roll address at each house move? I don't imagine being in this rental property for more than one year (owing to the landlord's circumstances, not my own) and hope it won't have a negative bearing to note that I have moved properties.

Anyone any authority on this?

YorkshireBoy

Lenders like stability, so 'time at address' and ER status are key criteria in credit scoring for financial products, just as 'time in current job' and, to a lesser extent perhaps, time with bank' are.


Moving regularly, and once a year is regular(!), will continue to impact on your credit rating in my opinion.


If you want some "authority" on the matter, then I'm sure you'll find more info in the CRA websites' help files.

Astraeus

YorkshireBoy wrote: »

Lenders like stability, so 'time at address' and ER status are key criteria in credit scoring for financial products, just as 'time in current job' and, to a lesser extent perhaps, time with bank' are.


Moving regularly, and once a year is regular(!), will continue to impact on your credit rating in my opinion.


If you want some "authority" on the matter, then I'm sure you'll find more info in the CRA websites' help files.

Thanks. I agree it is short-term however landlords' circumstances are likely to dictate our date for vacation. It appears I could have been better off leaving my electoral roll address as my previous address until we found a long-term rental property as opposed to changing it for what may now be a short-term let, counter-intuitive though it may be for a lender looking for an honest borrower.

YorkshireBoy

Astraeus wrote: »

It appears I could have been better off leaving my electoral roll address as my previous address

That may have caused further address mismatch problems, as I understand the lenders, ie your bank and credit card provider, pass address details to the CRAs and FPAs.


As impractical as it is sometimes, the answer is to not move around so much.

usefulmale

Astraeus wrote: »

My latest credit score, whilst I appreciate it being an arbitrary and meaningless marker, has worsened significantly in January 2015 in spite of the only material change being a move into a new rental property (and change to my address on the electoral roll).

On applications one is asked how long one as been at their present address and I am now querying what impact it has to re-register your electoral roll address at each house move? I don't imagine being in this rental property for more than one year (owing to the landlord's circumstances, not my own) and hope it won't have a negative bearing to note that I have moved properties.

Anyone any authority on this?

Please don't let your life revolve around your pointless credit score. You only get one life and it's relatively short.

Edi81

Just make sure that your real address history and the electoral register tie up.

If this means going on the register every time you move then do it.

The ability to match up address history with electoral register and linked addresses is crucial for credit lenders.

Thrugelmir

Better to register at the correct address as necessary. Whatever the consequences. There's no reason to suggest that this will have a negative impact. Not registering or incorrectly registering most certainly be scored negatively potentially as bad as outright declines on credit applications.

Astraeus

usefulmale wrote: »

Please don't let your life revolve around your pointless credit score. You only get one life and it's relatively short.

Indeed. It was less the score itself that concerned me, moreso whether it represented a problem with my credit history which would be detrimental to me at such time as I came to apply for credit.

I don't intend to base my living arrangements about the impact on lenders' criteria, however, so it was more a moot point than anything!