Electoral roll affecting credit rating

mellyp

Hi

Does anyone know if a person with a bad credit history, moves into a house with other people and has themselves added to the electoral roll for this house, would this affect the credit rating of the persons already living there, what i'm trying to say is, does the HOUSE automatically become a bad risk, because of this one person being on the electoral roll???

If that makes any sense??
Any advice/experience would help

Cheers

skintchick

HMmm. Not sure although I have heard of it being a problem if you move into a house where someone with a bad credit rating used to live, so it may work the other way round.

Fedz

Can do!

If they are applying for credit with their own bank and or any connected companies then chances are no

Another contributing factor would be if you become financially linked but if your totally separate then this shouldn't be a problem.

Creditors tend to use other individual factors to decide.

Kind regards

ashmit

If you are financially linked to the other people there, then possibly. Otherwise no.
http://www.if.com/info/creditscoring.asp

Am I affected by the credit records of other members of my household?

Most lenders recognise that the finances of people living in the same household are often linked. If one member of the household gets into financial difficulty, it may affect the finances of the other members. When assessing an application, we will take into account information about people with whom you are financially associated. This includes anyone with whom you share a joint account, or have made a joint credit application, whether successful or not.

Would the credit record of people who have lived at my address affect me?

Information about anyone who used to live at your address is not provided by a credit reference agency unless you have a financial connection with them.

The first bit seems to suggest yes, but basically, the second bit is the part to go by.