Applying for mortgage but updated address means credit had plummeted. Any advice?

(5 Posts)
CelestialGreen Fri 22-May-15 21:24:33

Apologies, reposting this as Money board very quiet tonight.

Wonder if anyone can help!

I'm hoping to move house and apply for a mortgage in the next three - six months (basically as soon as possible, if a suitable house comes up.)

I've never applied for a mortgage before and so only new to the concept of credit rating housekeeping and going about making sure it's all in good order.

I was a postgrad student for many years and moved around a lot, so kept my bank details at my parents' house which was still 'home', rather than change details with every new lot of student digs (with people coming and going and me not wanting my bank letters getting sent there if I moved). I thought I was being sensible!

I then graduated (4 years ago) moved again and started a permanent job, but still never changed my bank address details as I'd long got into the habit of keeping it registered to my 'long term' home (i.e. parents' address), it was still 'home', I still have a bedroom there, go back regularly etc, so it didn't even occur to me to change it.

Anyway - now I realise the importance of having everything watertight, so I've updated my bank details and addresses on Experian. My credit card rating has now plummeted though, due to one 'negative score factor'. It says I 'do not have enough historic revolving credit account data available to calculate a balance trend'.

I have never had a late payment, no missed payments, nothing. My credit score before was 984 (Excellent) and it's now gone to 869 (Fair).

Does anyone have any thoughts about how I can improve this and how long it might take?

Am a bit worried, as was hoping to apply for a mortgage very soon sad

caroldecker Fri 22-May-15 21:48:41

does Experian have a link to your details at the old address - you may need to inform them of the old details, so they can link you.

HelenF350 Fri 22-May-15 21:56:16

Are you registered at your new address on the electoral roll? If not apply to be registered, it will improve your rating.

CelestialGreen Fri 22-May-15 22:06:30

Hi Carol and Helen - yes, it has links to my old address, and I'm on the electoral. Just because I've changed address I don't see how my credit can be so decimated!

If I use a credit card for 3 months or regularly, now I'm registered at a new address, do you think that might improve the score?

caroldecker Fri 22-May-15 23:41:37

It might do. I would search moneysupermarket advice, but generally having a credit card and paying the balance in full each month does help.

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