Residential Status - Homeowner but currently living in rented accomodation

Absolute-Zero

Hello,
I have just moved out of a house I own (with a mortgage) into a rental property.
What should I put as my residential status on credit applications, bank accounts, etc?
I still own a house, I'm just not living in it.
Cheers,
Oscar

jonesMUFCforever

What are your long term plans for the house?
In the short term how many applications are you likely to make?

born_again

Absolute-Zero said:

Hello,
I have just moved out of a house I own (with a mortgage) into a rental property.
What should I put as my residential status on credit applications, bank accounts, etc?
I still own a house, I'm just not living in it.
Cheers,
Oscar

Renting.
As that is where you are resident at the moment. The fact you still own another house is not asked in the question.

D3xt3r5L4b

It asks your current residency status which is renting.
 If it asks if you own further properties then answer appropriately - but it’s rare that question comes up. 

Malkytheheed

I've always put "homeowner" because that is exactly what you are. You own your own property. And thats what the lender is looking for RE your risk factor. Whether you have assets behind you and whether you have proven finnancial maturity. That is the whole point in the question. 

If you put renting, you are doing yourself a diservice. The lender will assume you do not own a property or properties.
You are in no way lying by saying you are a homeowner. You are one. 

Absolute-Zero

Thanks everyone, appreciate the different views. I think I will go with homeowner, depending on the exact wording of the question.

D3xt3r5L4b

Absolute-Zero said:

Thanks everyone, appreciate the different views. I think I will go with homeowner, depending on the exact wording of the question.

Residential Status depicts how you are currently residing - in your case it would be renting.

Regardless of the fact you own a property, you’re currently renting another property as your main residency and not living in that owned property.

whitesmith

Yes that is true. The fact that you have another asset (ie property) has no bearing on your residential status

MEM62

Malkytheheed said:

I've always put "homeowner" because that is exactly what you are. 

If you are not living in it then you are a property owner - not a 'home' owner.  The OP declaring themselves as renting would be correct.