What is my residency status ?

happy_hazelnuts

they are not asking if the op owns a house.

they are asking for their residency status.

EarthBoy

funkycredit said:

EarthBoy said:

funkycredit said:

happy_hazelnuts said:

residency is where you live. The op is living at address x with parents so that is the residency status.

the fact that the op owns a house, flat, offshore island, condo in florida is irrelevant.

What absolute hogwash. On that analogy a gay man going for a meal with a female is straight. Because at that moment in time he's with a woman. Forget the fact his fella may be waiting at home eh? Ridiculous. 

I may live elsewhere but if I own property then I'll always be classed as a homeowner / no mortgage. 

What a stupid analogy.   I suggest you open a dictionary and look up the words residence and home. They both mean where you live.  You're only a homeowner if you own the property you live in. If you don't, then you could be a property owner, but you're not a homeowner. 

Talk sense. In the context of credit; being a homeowner is extremely important for risk. You don't stop being one cos you rent it out. Why argue with the unarguable fact you're totally wrong. 

He is a homeowner. End of. You cannot dispute or deny that. How can you? Does he own a house? Yes or no. Simple. 

You are confusing the words house and home.  The unarguable fact is that he doesn't own his home. He owns a house, but it isn't his home, therefore he isn't a homeowner. 

In the context of credit, homeowners are regarded as a much safer bet than other house owners because they are responsible for the property they live in, and its condition. House owners who rent their property out are at the mercy of tenants who might not pay their rent and might even damage the property, so lending to them is much riskier. 

Migster

In the context of applying for a credit card, you are asked this question in relation to the address you tell them that you live at, so while you do own a home, the address you are using on your application is that of your parents, so you should choose the "living with parents" option.

Malkytheheed

The purpose of the question is to establish risk. 
Someone who has equity in a property if a much lower risk than a teenager just buming around at home. 
As such, I would definately put homeowner down on the form. As you DO own a home. You dont currently stay there. But you still own your own home with a mortgage. And thats all they want to know. 

EarthBoy

Malkytheheed said:

But you still own your own home..

He doesn't own his own home. His own home is with his parents. He owns a different property.