Maintain credit rating while abroad

Alenkiy

Hi,
I will be moving abroad for a couple of years and would like to maintain my credit rating. I have a mortgaged flat which will be rented out, so all utility bills will no longer be in my name. Which steps should I take to keep my credit rating, as I intend to buy a new mortgaged house when I return?
I was thinking of keeping my home address on bank accounts (and have mails redirected) and keeping my name on electoral roll? Would it help if I made small purchases on credit card while abroad and having them paid off by direct debit monthly? Or even buy something on Argos and pay off monthly by direct debit?
Any advice would be greatly appreciated.

[Deleted User]

Bear in mind that keeping your name on the electoral roll means you could be called up for Jury Service and being abroad then adds in all kinds of complications - e.g. delayed mail?, would they accept being abroad as a reason for postponement? - Even students they normally only let postpone until the Summer.

I was on the electoral roll at my old house years ago to build stable history (which did do a LOT of good to be fair), but came off after I realized I could be hauled back 300 miles for Jury Service!

I think keeping active bank accounts and credit cards (probably with paperless billing!) and spending a little, whilst watching them like a hawk for any fraud, would be the only way to do it.

You won't incur any 'negatives' while you are abroad, so assuming you keep to all payments etc, when you get back you'll have some well established bank & credit accounts so will just be waiting on ER & job stability before you get a mortgage.

Mortgage companies rely on more than a 'credit rating'/credit score anyway - they need to know where you've *actually* lived for the last 2 or 3 years, and ex-pats coming back normally don't have such a good choice, whatever your past conduct (unless you have a hefty deposit of course).

I'd imagine you'll have to come back and rent (or similar) for maybe a year, get your Electoral Roll status back and then apply for a mortgage maybe after 12 months to get a decent selection, I believe it's 24 to 36 months back with UK traceable employment & home history for full pick of the market.

Also whether you're allowed to do that is another matter. You almost certainly won't be able to apply for anything whilst you are abroad. I can't see companies caring about closing your existing accounts down (as long as you continue to meet payments) but technically speaking you could be breaching T&Cs doing that.

Thrugelmir

Alenkiy wrote: »

Hi,
I will be moving abroad for a couple of years and would like to maintain my credit rating.

Being overseas will result in you being out of sight. That's unavoidable. You don't have a credit rating per se. When you make an application for credit a lender will assess your application against it's own criteria.