Mortgage for new build - change of address

SkiTee · 27 June 2017 at 2:45PM

Hi all,

We are in the very early stages of buying a new build property off plan. We currently live in a shared ownership flat and the rules of the new build are that we must be sold STC with an AIP in place before we can reserve our chosen plot.

This is fine, the broker thinks we'll get the AIP (and indeed the mortgage!) with no issues and the plot isn't likely to be reserved until the end of the year AND we've set the ball rolling in terms of selling our flat - however, as the new place wont be completed until May/June 2018, we may end up living with parents for a few months. This is also fine as means we can save money and are ready to go when the time comes, but I am worried about what the change of address will do to our credit files and whether it will balls up the a mortgage application. We will be using a broker - will they be able to convey the reasons for address changes to them? Am I totally overthinking this?! Do we just not change our address anywhere? I dont want to put incorrect information on a mortgage application so not sure how we can work it.

Thanks in advance!

SkiTee · 28 June 2017 at 2:15PM

Can anyone help?

BJV · 28 June 2017 at 2:18PM

You may be over thinking it. Address changes should not make a massive difference as there will be genuine reasons why you moved but you need to speak to your mortgage adviser. So many other factors come into play and they will know your personal circumstances.