Mortgage application using parent's address

Biblet

Hey!

I'm really hoping someone can help...

We are about to apply for a mortgage (we are first-time buyers) but the broker has told us we cannot use our parent's addresses.

We have been living together for six years and have been married for three but EVERYTHING is still registered at our parent's addresses - bank accounts, credit cards, electoral role, car insurance, passports, driving licences etc.

The broker has told us the lender will question why we live at two different addresses when we are married. We kept everything registered at our parent's addresses as we thought this would give us a better credit rating.

In the last six years we have lived at three different rental addresses.

Should we change our addresses or find another broker?

We would really appreciate help and advice on this.

Thanks in advance.

Biblet.

G_M

Biblet wrote: »

We are about to apply for a mortgage (we are first-time buyers) but the broker has told us we cannot use our parent's addresses.
Of course. You don't live there!

We have been living together for six years and have been married for three but EVERYTHING is still registered at our parent's addresses - bank accounts, credit cards, electoral role, car insurance, passports, driving licences etc. Why? Mad!

The broker has told us the lender will question why we live at two different addresses when we are married. True. We kept everything registered at our parent's addresses as we thought this would give us a better credit rating.
Why did you think this? Well, whatever - you were wrong.

In the last six years we have lived at three different rental addresses. So? Lots of people move. That's why on most application forms it asks about previous addresses.

Should we change our addresses Yes or find another broker? No.
.

Does that help?


ps- where will you be voting on Dec 12th?

epinjy

You probably should update your address, especially electoral roll, car insurance...
Personally I don't think it will matter too much for getting a mortgage though, perhaps some lenders wont like it but plenty wont really care if you just explain it, providing all else is up to scratch.

AdrianC

Biblet wrote: »

We have been living together for six years and have been married for three but EVERYTHING is still registered at our parent's addresses - bank accounts, credit cards, electoral role, car insurance, passports, driving licences etc.
...
In the last six years we have lived at three different rental addresses.

And, umm, how have you been paying council tax on these properties?

Come to that, have you been honest with your car insurance about where your car is kept overnight...?

Thrugelmir

Biblet wrote: »

EVERYTHING is still registered at our parent's addresses - bank accounts, credit cards, electoral role, car insurance, passports, driving licences etc.

Car insurance? You do realise that could void your cover.

steampowered

I can understand not updating all of your credit cards etc., but surely your electoral roll must have been at the rented properties? Don't councils send reminders about this and link it to council tax?

It sounds like the best course of action is to update everything to where you live ASAP.

Perhaps access your credit report on a site like clearscore and make sure all the open accounts fed through the credit rating agencies get updated.

Murphybear

Thrugelmir wrote: »

Car insurance? You do realise that could void your cover.

Advice from DVLA

“Drivers are required by law to let the DVLA know if they change their name or address.

If a driver fails to notify the DVLA of changes, they could face a fine of up to £1,000.”

G_M

Murphybear wrote: »

Advice from DVLA

“Drivers are required by law to let the DVLA know if they change their name or address.

If a driver fails to notify the DVLA of changes, they could face a fine of up to £1,000.”

Indeed. How else are the police supposed to find you to charge you with driving without insurance after it's been cancelled for using the wrong address....

AdrianC

So long as V5C and driving licence are at an address through which you can be contacted swiftly, that's good.

But the insurance definitely need to know where the car is kept overnight. That's a large part of how premiums are calculated, because it's obviously a big risk factor...

Murphybear

G_M wrote: »

Indeed. How else are the police supposed to find you to charge you with driving without insurance after it's been cancelled for using the wrong address....

:rotfl::rotfl::rotfl:

davidmcn

AdrianC wrote: »

But the insurance definitely need to know where the car is kept overnight. That's a large part of how premiums are calculated, because it's obviously a big risk factor...

They'll also expect your address to be where you actually live, not just somewhere which can act as a post box for you.