# Moving address..affecting loan decisions



## chr15_7_t_ (Jun 5, 2011)

Hello everyone. 

Just a wee question. I have read that moving address does not affect my credit score but may affect lenders decisions to accept me for credit? is this correct 


Thanks for any help


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## Mark M (Nov 29, 2006)

Won't affect you as they'll ask for your previous address...


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## chr15_7_t_ (Jun 5, 2011)

I have lived at my current address for just about 21 years.
Say i have been at my new adress for a month then i apply for car finance, do you think they will still look at my file the same as if i still stayed at my previous address?


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## chr15_7_t_ (Jun 5, 2011)

anyone help here


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## Natalie (Jan 19, 2011)

Are you on the electoral roll at your new address.

I would have thought they would go more on your credit rating than address tbh as long as old & new address add up.

Have you checked your credit score? https://www.noddle.co.uk/

Might be worth asking here MSE Forums - Loans


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## Matt. (Aug 26, 2007)

That Noodle site looks ok but do you really need to provide Debit Card details?


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## Gav355 (Feb 6, 2012)

Hi
A computer for any lender - loan/ car finance / credit card etc will make the decision based on your credit score. Your score is will be affected by a recent move - but - living somewhere for 21 years will help!! If you have moved it would be better to wait until you are registered at that addres and are having post delivered etc AND most important be on the Electoral Role. If you can't wait until then, depending on the finance company you should be fine.....they don't like 2 months here, 5 months there, moved again, found at an address not mentioned etc etc ...


Hope that helps


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## Kerr (Mar 27, 2012)

If the person who lived in the house before leaves a trail of debt, does that not also affect your ability to get credit?

I remember in my old flat the person bought the one above off a family who ran off leaving big debt behind them.

He could not even pass a check to get Sky tv.


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## Natalie (Jan 19, 2011)

Matt. said:


> That Noodle site looks ok but do you really need to provide Debit Card details?


Um I don't know? I'd seen it mentioned on MSE that it was free?? I can't get on it properly at work because our version of IE is too old 



Kerr said:


> If the person who lived in the house before leaves a trail of debt, does that not also affect your ability to get credit?
> 
> I remember in my old flat the person bought the one above off a family who ran off leaving big debt behind them.
> 
> He could not even pass a check to get Sky tv.


http://www.equifax.co.uk/About-us/Press_releases/2008/DEBT_DOESNT_LIVE_HERE_ANYMORE.html


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## Jonny2400 (May 14, 2011)

Ok firsty there is no such thing as a credit score per say, each lender looks at your file and the information privided and use this against there own score card, some lenders will place different levels of importance in each factor . 

The score that people talk about ie is a way for credit ref agents to give you a approx idea of how lenders will view you. The fact of the matter is someone who hasn't moved has a better chance of getting approved straight away, the fact you have moved means that it is more likely to be referred to manual underwriters. Providing every thing checks out you stand a slightly lower chance than before the move, they will factor in that a move generally reduces your overall financial postion, ie costs buying new stuff etc

If its a large loan ie over 12 months income I would suggest you get your voters roll updated, wait 3 months and pay a little more than normal of any credit card balances even £50 per month looks very good on your credit report as it shows your in control of your finances


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## Gav355 (Feb 6, 2012)

Jonny2400 - yes what you is correct, however you are assuming that lenders will refer a decision from the computer to a manual underwriter. Sadly, in the modern lending world this is not usually the case. 

If the op uses a broker to fund the car purchase (I believe thats what he intended) then they would be able to use a provider that would look at the recent move favourable ie wants to lend, which will probably mean a higher rate of interest...

Yes indeed voters roll is vital these days - a few years ago didn't matter now it does!
Just my 2p!!!

My advice to the op is to just go ahead with it now if the overall deal is good if you get rejected do the advice as above and try again in 3 months time - always cars for sale!!!!!

Cheers


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## Derekh929 (Aug 28, 2011)

Past experience in this area is it is important to be on voters role at each address if not lender can think you have not been at that address and can effect you as lenders don't like multiple addresses on loans or mortgages and may lower your score


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