Credit rating (for mortgage etc) and having moved house

viridity

Hi all,

I have been reading this forum for a while but joined it to post today as I was not able to find an answer from the 'search' (could have missed it though!)

I am hoping to be able to buy a house in the "near" future (say within a year) but am a bit worried that one of the factors affecting how good your credit is (?) is "frequent house moves" according to various sources... have not seen a definition of this anywhere so I am wondering what people's thoughts are on this.

Currently I am living in rented house and have moved 3 times - once in 2004 to move from a flat to a house, once in Jan 2006 due to factors beyond my control relating to the landlord :eek:, have just moved again in December 07 due to landlord selling the house :rolleyes:. I make it 3 separate addresses over the last 3 years which may make it look a bit "unstable" but in fact this would not be the case, I try to live in a stable way and would have stayed at each of the 2 previous addresses longer if it had been up to me.

I have credit cards which I pay off in full every month (mostly used for things like shopping to hang onto my money longer!), no loans or anything, no defaults etc. Have been on electoral roll properly at each address but my other half (who is not a british citizen but does have 'permanent' residence) has not as he is not eligible to vote!

Any opinions welcomed on how much do you think "frequency of moves" is taken into account compared to other factors? Bearing in mind I would be a first time buyer do you need to have been at a single address (say) 3 years in which case how are you meant to deal with that if the landlords keep selling the houses etc!? :mad: What approach is best e.g. to go through my bank or a broker etc. Am I just doomed to be at the mercy of a landlord forever?! I am afraid my credit is ruined now because of things beyond my control... Help!

dan1979

What you've described is far from 'a lot' bear in mind a tenancy agreement is usually 6 or 12 months in duration.

It wouldn't even raise an underwriters eyebrows especially if you were on the voters roll the whole time.

If it's a lender who uses credit scoring and your credit score is ok the addresses won't affect anything.

Doozergirl

It's not a lot and as long as they can find you on the electoral roll somewhere, then you won't have a problem.

My daughter is nearly three. She has lived in six houses now I had no problems applying for a mortgage recently.

viridity

Thank you, that sets my mind at ease a bit! :A

viridity

Another question (kind of) relating to this... with the "not on the electoral roll" thing, is there a way round this with the credit history agencies (?) as I am reading a lot that you need to be on the electoral roll to be considered etc - as a non citizen this is not possible, are we best to forget about the idea of buying at all, any opinions?