Being a First Time Buyer in Hull when it comes to applying for a mortgage and your credit score, the fewer addresses you have on your record the better, and it seems that people are becoming more savvy and aware of this.
Our Mortgage Advisors in Hull are now seeing more and more applicants who have moved out of their parents address into rented accommodation but think that it is a good idea to leave their bank statements, credit card and Electoral Roll information registered at their previous address.
There are good reasons why people do this, however, this is now a flawed strategy. Almost without fail, if you have moved to a new address, there will be some record of this on your credit report. This could be from a delivery address when you have ordered something online or a car/home insurance search and many more.
By far a better strategy for if you are thinking about taking out a mortgage is to get all of your accounts (credit cards / current accounts) and electoral roll changed over to your new address. When updating your address on your credit file and electoral roll ensure you double-check the date in and date out. If you do make a mistake with these dates it may appear on your records that you are living in two places at the same time.
This will show a more open and honest way of trying to apply for a mortgage which will benefit you greatly in your Mortgage application and when it comes to approaching a Mortgage Advisor in Hull.