How much does moving house affect your chances of getting a mortgage?

ellie800

My partner and I want to buy our first home in the next couple of years, but want to buy in a different city to the one we currently live in now. Because of this, we would like to try renting in the new city for a little bit, so that we can sort out our jobs and find our feet a little before committing to buying a home there. We'd like to rent for no more than a year because by that point, we should be ready to put a deposit down on a house. 

But I know that moving house does affect your credit score, so I'm just wondering, will it massively impact our chances of getting a mortgage, if on the application we will only have been living in our house for 12 months? How much would it strengthen our application if we were to stay in the house that we have been currently living in for the past 3 years? 

macman

Your credit score is a fictitious figure that lenders do not even see, so you can ignore it. If you are on the electoral roll by the time you apply for the mortgage, I can see no issue. Plenty of FTB's have moved regularly between rental properties.

london21

ellie800 said:

My partner and I want to buy our first home in the next couple of years, but want to buy in a different city to the one we currently live in now. Because of this, we would like to try renting in the new city for a little bit, so that we can sort out our jobs and find our feet a little before committing to buying a home there. We'd like to rent for no more than a year because by that point, we should be ready to put a deposit down on a house. 

But I know that moving house does affect your credit score, so I'm just wondering, will it massively impact our chances of getting a mortgage, if on the application we will only have been living in our house for 12 months? How much would it strengthen our application if we were to stay in the house that we have been currently living in for the past 3 years? 

Not worth worrying about now.

They will ask for your address in the last 3 years.

Just ensure you are on the voters register. 

ReadingTim

Length of time at an address / being on the electoral roll is a factor in your credit score/history, but I don't think anyone can ever say exactly what percentage it counts for. 

Similarly, as for whether it'll impact your chances of getting a mortgage, it depends on what the rest of your credit history is like, as well as how much you earn, how much you're looking to borrow, who you're looking to borrow it from, etc.

So, in isolation, not a great deal, but in the round, anywhere from not a great deal, to the final straw that broke the donkey's back.