First time mortgage...

ElTwis

I'll keep this as short as I can!

About 5 years ago I moved from Cumbria where I grew up, to Leeds for a job. Between then and now I lived at 5 or 6 different addresses, all rented. I ran up a large amount of debt on various credit cards and loans which, due to an inheritance, I managed to pay off about 2 years ago. These debts were registered to the various addresses I had lived at but I don't have a clue what was to where. To try and solve this problem I changed my details with my bank and other cards to my Mums address back in Cumbria. I was concerned that as I had defaulted on numerous debts my credit rating would be very poor but I have managed to get hold of 2 credit cards in the last year to transfer balances onto to keep me at 0% (I'm clearly a crafty consumer now!) although both have been registered to my Mums address.

My problem now comes that I am looking to get a joint mortgage with my girlfriend to buy a flat. My impression is that I will need evidence of where I have been living which I don't have. I didn't keep statements sent to my old addresses preferring instead to stick my head in the sand. Should I claim to have been living at my Mums for the last few years which, although not being completly true, is not far off as I do come back every few weeks, or should I be completly honest and tell a mortgage advisor that I don't remember exact dates I was at addresses, I have no (or very little) paperwork relating to any of them and that I changed some cards and my main bank account to my Mums address a couple of years ago?

I hasten to add I've not been trying to avoid debts, I have moved as circumstances with housemates dictate, and my Mum is perfectly happy for me to have my bank account and credit cards registered to her address as it is far more permanent than any of mine!

herbiesjp

Give your adviser all the details you remember.

Have you got a copy of your credit file? As that will help looking at your address history and also seeing how your past probelms reflect now on your credit score.

ElTwis

herbiesjp wrote: »

Give your adviser all the details you remember.

Have you got a copy of your credit file? As that will help looking at your address history and also seeing how your past probelms reflect now on your credit score.

Is it best then to go to credit check company before going to an adviser? My impression was that the adviser would check my file when I spoke to them and that too many checks left negative "footprints" on my history...

luckyfool

A check made by you, or by an advisor with access to a quotation search facility would not leave a hard credit footprint, and as such doew not effect your credit score.

Most mortgage brokers do not have access to a commercial credit search facility, and instead would rely on you providing a copy of your own search, or assist you in applying for it online. I do have access to an experian facility provided by one of our lenders which allows up to run a soft "quotation search", something I would normally do at the outset where there is some question about the credit history.

You could speak to your broker and get their advice, though there is no harm in applying to experian or equifax now for your report, making sure you give them details of all the addresses you can remember to get as accurate a picture as possible. It is not advisable to try to hide your address history to hope that problems in your credit history can be hidden. Mortgage lenders these days have access to very sophisticated fraud prevention tools that allow them to pick up on fraudulent data in an application, and if they do so then they can make it very difficult for you to get a mortgage anywhere. Honesty is definitely the best policy here!

herbiesjp

ElTwis wrote: »

Is it best then to go to credit check company before going to an adviser? My impression was that the adviser would check my file when I spoke to them and that too many checks left negative "footprints" on my history...

I would say to get a copy of your Experian and Equifax credit report - getting a copy does not affect your credit score.

As stated, the adviser can get a copy, however it will mean that you go to him armed with all the facts, so there should be no surprises when it comes to the application.

One of them allows a free 30 day trial to get your credit report, so well worth it IMO, especially if you have had the odd credit blip.

luckyfool

herbiesjp wrote: »

One of them allows a free 30 day trial to get your credit report, so well worth it IMO, especially if you have had the odd credit blip.

www.creditexpert.co.uk provide the free trial. They require a credit card number to sign up, but as long as you cancel within the trial period then you are not charged. This is an Experian facility and it allows you unlimited access to your experian file, along with text message updates when there are significant changes.