what is my residential status for loan application?

mriddell

Hi.
I'm looking to consolodate some debt with a loan application and wondered what I should tick for residential status? I own a flat (which is currently up for sale) but I live in rented accomodation while waiting for the flat sale to complete. Recently a buyer pulled out so back to square 1 on the flat sale but I am still hoping to proceed and consolodate my debts. When looking at loan applications the boxes to tick state: home owner, tenant, council tenant, or living with parents.

Should I tick home owner or tenant?

PeacefulWaters

Your residential status (as in where you currently reside) is tenant.

Alderbank

You still own the flat though.

Where does the electoral register say you live? The loan application will check with the ER and if everything doesn't agree it could affect your application

bengalknights

You are currently tenant for the moment

mriddell

Thanks for the feedback. I'll take your advice and go with tenant. I wasn't sure if being a homeowner was a positive or negative when seeking to take out credit.
Thanks for the advice. I never even thought about the ER checks.

DCFC79

Use the loan for what you intend, so many posters on here regret consolidating.

Shakin_Steve

You live with your spouse, who owns the property you live in. You are not named on the mortgage. Are you the lodger, or what?