If you are looking at applying for a mortgage and your credit score, it’s best to have fewer addresses on your record the better, but it seems that people are becoming savvier and aware of this.
Through our experience as a Mortgage Broker in York, we have seen many applicants who are Moving House in York from their parents address into rented accommodation, or just to buy their own place as a First Time Buyer in York and feel it’s fine to leave their bank statements, credit card and Electoral Roll information registered at their previous address.
Many people decide to do this, however, this is now a flawed strategy. If you have moved to a new address, it’s pretty much a standard procedure for a record of this to be put on your credit report. You may have used your address for online delivery or a car/home insurance search and many more.
As a Mortgage Broker in York, we recommend that if you are thinking about taking out a mortgage you get all of your accounts (credit cards / current accounts) and electoral roll switched over to your new address. Make sure that when you are updating your address on your credit file and electoral roll check the date in and date out. It’s important with managing the dates correctly as you may be at risk of being viewed as someone who is living in two places at the same time.
By doing this, you are having a more honest approach to the financial situation which makes you look good from a lenders point of view.