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Changing residential address after mortgage approval/exchange...help!
sturgeon
Posts: 396 Forumite
I’m buying a new build flat and the completion is expected in Q4, having received a mortgage offer from Halifax. I had to exchange on the contract last summer.
Since my application and having received the offer I have moved address, (sold my house and moved into rental) although that is only recent. As the completion for the new flat has been delayed, I have had to apply for the mortgage a second time, and will need to do so a third time (!) shortly.
The second application and approval took place at the beginning of this year, a few months or so before I sold my flat and moved into rental. The offer was in hand within about 2 days from application, mainly as Halifax simply renewed it with minimal admin.
I am concerned that with this third (re)application, as my residential address has changed, that if they credit check me I may not be on the electoral roll and my bank/cards may not link to this address. I registered on the electoral roll as soon as I possibly could, having also updated all banks/cards etc. I even contacted credit agencies recently sending the letter from my council proving I am on the roll.
My broker seems concerned as he tells me today changing address could cause 'complications' and once a decision is made it cannot be unchanged. Would Halifax really have an issue with me simply changing address having sold my old flat, waiting for this new one to be built? I have a large deposit and faultless credit record, but the very recent address change is a major worry. Surely the broker can speak to his account manager or similar to explain the situation?
I am worried to leave the address unchanged and play dumb, as if they credit check me won't it show I'm not registered to my old address anymore?
After waiting 1.5 years for the property, with all that stress, hearing this from him today is concerning me.
Since my application and having received the offer I have moved address, (sold my house and moved into rental) although that is only recent. As the completion for the new flat has been delayed, I have had to apply for the mortgage a second time, and will need to do so a third time (!) shortly.
The second application and approval took place at the beginning of this year, a few months or so before I sold my flat and moved into rental. The offer was in hand within about 2 days from application, mainly as Halifax simply renewed it with minimal admin.
I am concerned that with this third (re)application, as my residential address has changed, that if they credit check me I may not be on the electoral roll and my bank/cards may not link to this address. I registered on the electoral roll as soon as I possibly could, having also updated all banks/cards etc. I even contacted credit agencies recently sending the letter from my council proving I am on the roll.
My broker seems concerned as he tells me today changing address could cause 'complications' and once a decision is made it cannot be unchanged. Would Halifax really have an issue with me simply changing address having sold my old flat, waiting for this new one to be built? I have a large deposit and faultless credit record, but the very recent address change is a major worry. Surely the broker can speak to his account manager or similar to explain the situation?
I am worried to leave the address unchanged and play dumb, as if they credit check me won't it show I'm not registered to my old address anymore?
After waiting 1.5 years for the property, with all that stress, hearing this from him today is concerning me.
0
Comments
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Can anyone advise please?0
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You need to take the advice of your broker and answer truthfully. You cannot lie on the application."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
He's not necessarily saying that, he is saying that it could be unchanged as doing so means the consequences can't be undone. Whilst I have no idea why doing such a simple amend would have major consequences...0
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He's not necessarily saying that, he is saying that it could be unchanged as doing so means the consequences can't be undone. Whilst I have no idea why doing such a simple amend would have major consequences...
or maybe the broker is just lazy to update the mortgage portal. OP did you use an EA broker?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I've used the recommended broker by the sales office, he's been very good so far but the response to this particular issue has concerned me.0
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I've used the recommended broker by the sales office, he's been very good so far but the response to this particular issue has concerned me.
Oh dear, so it is a yes then...."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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