Moving Home

Work out what you need to move

Moving home can be an expensive business and it is typically a time when people take on several new credit arrangements. There is the mortgage, if you're buying. Then you may want to pay for new carpets on credit, or arrange to rent a television and video. You may be signing up with a new cable telephone company and you might need to buy new kitchen equipment... the list goes on and on.

It is often advisable to get a copy of your credit reference file before you apply for a mortgage and before you go shopping for big household items. That way you can identify if there will be any problems before they occur and sort them out first, if possible.

It is also advisable to work out what credit you are going to need before you buy. Remember that you will probably pay interest in addition to the cost of the goods you are buying.

Leaving footprints

If you take out one loan at a good rate to cover everything rather than taking on several separate credit arrangements, you will avoid the possibility of lots of credit searches appearing on your credit reference file. Every time a search is made it leaves a footprint - so you can check who has obtained information about you.

This record of searches also allows lenders to identify 'abnormal activity' - a large number of applications for credit made by the same person in a short space of time - which could signify fraud or over commitment by a consumer. When you move house you might be clocking up enough searches for it to look 'abnormal'.

If you find yourself turned down for credit and the only reason can be the number of searches on file, don't lose your cool. Simply find out the address of the company's credit department and write, explaining that you are moving house and have had to make lots of separate credit purchases, and ask them to reconsider your application.

If you're not on the Electoral Roll

Some lenders do not like to give credit if you are not on the Electoral Roll. But it can sometimes take more than a year after you have lived somewhere for you to appear on this list.

So inform your local council as soon as you move. You may be in time to get on to the Electoral Roll even though you've missed the official form.

Always offer your previous address when applying for credit. If you are refused because you are not currently on the Electoral Roll explain the situation and offer other proof that you live at that address, a council tax bill, tenancy agreement or driving licence will usually be accepted.

If the store or branch you are dealing with cannot reverse the decision, write to the company's credit department at its head office.

Moving your accounts

When you move home, always move your credit accounts with you. Get a copy of your credit reference file to check that you have identified them all - that way you won't forget mail order or other accounts which you may not have used for a while.

If you do this, even if you are not on the Electoral Roll, a lender will be able to see that you really do live where you say you do.

Moving house can be stressful. Avoid any extra problems by following these guidelines:

• Send off for a copy of your credit reference file to check that all is accurate and up-to-date and to make sure you don't miss any payments
• Work out how much credit you need for essentials in your new home and find the best way to borrow
• Let all lenders with whom you have accounts know your new address as soon as possible
• Register on the local council's Electoral Roll