electoral role status on credit file affecting mortgage application

al13

My fiance and I are trying to get an AIP for a mortgage on a house we are in the process of putting an offer on. The AIP process is being hindered by fact that the credit reference agencies' files are not up to date; we registered to vote at our current address at the end of July.

This caused us to be rejected for an AIP a few days ago. Having both called to discuss the situation with the credit reference agencies' customer services teams, we have been given conflicting information about when and how this information will be updated on their systems. Having called the councils within which we reside, they have confirmed that we are both definitely on the ER, and have been since the beginning of August.

Please, please could you offer some clarity as we are close to losing our dream house unless we can get an AIP this week. Is there a way this information can be updated on their systems immediately? We have been told by one customer services rep that it won’t be done until December, another said it will take up to 8 weeks, and another mentioned putting a note on our file of some sort. Either way, we are very unclear what the situation is, and how to proceed.

This is all so, so stressful, and we are desperate now, please could you help?

HappyMJ

You don't need to be on the electoral roll to get a mortgage.

I'm not entitled to register to vote myself and have had mortgages, loans and credit cards some of which just in the last few months having lived here since May. It's not required so if the mortgage company is insisting on it then go elsewhere.

There's no way to get it updated immediately. You need to wait for them all to do their work.

downhillfast

Do you have an address that can be ambiguous? My address often causes issues as some records have it as 'Ground Floor Flat, No1 My Street'... and others just have it as 'No1 My Street'

On the electoral roll it is listed without reference to the flat so I always apply for anything that requires a credit check using that format.

whereisthatlight

Hi,

I believe you can ask for a letter from either your local council or Electoral roll office confirming you have been registered.

Did you receive a letter when you did register?

Check if this is possible and whether its acceptable to your Broker/mortgage provider.

al13

Thanks for your reply. No, it's a normal street address for a house. The issue is more with the reference agencies not updating the info immediately

Giggs_11

Sorry to steal your thunder OP but does anyone know how long it takes to change your address on electoral roll? I changed mine online a couple of weeks ago and heard nothing back since? Do they send a letter?

al13

muhandis wrote: »

Having gone through a similar predicament a few months ago when we first started looking for mortgage options, here's my 2c -

Credit files can take a while to get updated (3 months in my partner's case) with a change in electoral registration status. If you only got on the roll in August, it is likely to be a while before it shows up on your credit report. Get copies of your credit report from all 3 agencies and check. Also check on Noddle for a free credit report.

We waited until the electoral registration showed up at our current address on all 3 credit reports before applying. Our broker said that we could take a chance at applying for an AIP before then, but he wouldn't recommend it.

If your AIP was a proper search (eg: Nationwide) and not a soft-search (eg: Halifax), your credit rating has already taken a hit so it is in your best interest to make sure that your credit report is in mint condition (no errors, open accounts at old addresses, recent defaults/late payments, not too many search footprints, etc) before applying again.

I know most of this advice isn't very helpful right now to buy the specific house that you refer to. Your best shot in the short-term is getting copies of your credit reports from all 3 agencies and going to an independent whole of market broker to see what he/she recommends.

Good luck!

thanks! the AIP check we had done was by HSBC which is a soft search, so no issues there. Will be getting reports from all 3 agencies now as you suggest, theres not much else i can see we can do in the short term. off to a new mortgage broker to discuss options

al13

whereisthatlight wrote: »

Hi,

I believe you can ask for a letter from either your local council or Electoral roll office confirming you have been registered.

Did you receive a letter when you did register?

Check if this is possible and whether its acceptable to your Broker/mortgage provider.

thank you. yes, i have a letter confirming my electoral status and address. ill be showing it to a new mortgage adviser tomorrow, will have to see what they say.

lisa110rry

Gosh things must have become much tighter than when we bought our homes (1978, 1981 and 1987 consecutively). I was not naturalised until 2004, so was obviously not on the register at those times. Probably the money laundering rules have tightened things up.

The one thing I had to do for the first mortgage was to have a thorough private medical check-up.

Hope things get sorted for you!

[Deleted User]

No advice beyond what others have said really, but what I will say is don't get too stressed about the 'dream house'. If you've found one, you will find others. We've just had an offer accepted on a house- the third property we've had an offer accepted on in the last six months, because things went wrong and fell through with the other two. If it's taught me anything, it's that a thick skin is key when house buying, and that there is no such thing as The One. Good luck!