Change of address during applying for a mortgage

PeterGSX

Hi,

I'm currently in the middle of applying for a house, the application is nearly finished. I've lived in a houseshare for the last three years, same address. Life circumstances force me to consider pulling out of the application, moving out and renting somewhere else while I search for a new property.

Can someone possibly tell me, please, how much is this going to affect my future mortgage application, lower credit score etc? There's a slight chance my life can be in danger if I stay here for longer and for obvious reasons I'm not keen on it.

Thanks.

Lilla_D

Hi,

If you have to move due to unforeseen circumstances, it's not a show stopper for a mortgage application. You'll just have to inform your broker and the lender and provide proof of address for your new address.

However, if you do want to stop your current application, then that's fine, it won't automatically stop you from getting another mortgage in the future. Your Experian/Equifax credit score may reduce, but most lenders have their own scoring system anyway, so as long as you don't go around collecting credit searches, you should be fine from this point of view