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Mortgage address history

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Feb 13, 2023

Mortgage address history

The most important thing to understand about mortgage applications is that different lenders may require more information than others before considering you for financing.

If you have only limited proof of your address, parent’s address, or previous address, it could make the difference between approval or rejection for your mortgage application.

This guide will help you understand how to obtain a mortgage without proof of address, what information you need to prove your address, and other details.

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How many years do you need to have an address history for a mortgage?

Many mortgage lenders require at least two years of UK address history. Applicants who don’t have this information will be declined by many.

Some mortgage lenders will accept applications with less than two years UK address history, while others will evaluate the application on other factors. Speak with a mortgage advisor today to save you time and money.

Sometimes, the strictest mortgage lenders will allow borrowers with less than two years of proof of UK address to be approved. They might consider lending you a mortgage if you are a British ex-pat who has just returned to the UK.

Your address history can impact the number of lenders willing to lend you money and how many deals you get. It can impact the rate you get and even whether or not you are approved for a mortgage.

Regardless of the amount of proof of address, it is highly recommended that you speak to a mortgage advisor before you apply.

You can increase your chances of getting the best deal by being matched with the right lender for you.


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There might be other exceptions that lenders may make

These lenders may accept foreign address history if the applicant currently resides in the UK. It will help you if you are a foreign citizen and not an ex-pat.

Only mortgage providers that accept applications with less than six months of history will do so under specific conditions. You will likely need to be in continuous employment for a specified period, preferably with the same employer, for at least six consecutive months.

Some mortgage lenders may base an application on your credit search score and bank statements, with no requirements for address history. These mortgage lenders usually evaluate applicants on a case-by-case basis and may require additional underwriter checks.

Banks and building societies are more accommodating with UK address history requirements for first-time buyers.

Applying for a mortgage without a history of address changes is a risk

If you are trying to find a mortgage lender, the biggest risk is that you may approach someone who refuses applicants with a limited address history. Rejection for any reason can impact your credit score and cause you to lose your plans for financing.

Contact us for mortgage advice today.

You should also be aware that you may need to deposit more. Lenders may limit the loan-to-value (LTV) ratio to 75% for borrowers with little address history. This will be an issue if your deposit is less than 25%.

Talking to a specialist mortgage broker is the best way to mitigate these risks.

Our advisors have full access to the market and are familiar with how many addresses each lender accepts. This means you can be sure you will get matched with the right lender the first time.

If you have been searching for a mortgage online, save yourself the time and effort and contact us today for specialist mortgage advice.


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Why mortgage lenders must look at address history

Credit information includes your current address and history. Mortgage lenders will require evidence to verify your identity and protect themselves from fraud. They also need to trace your financial history at each address. Ensure to have your bank account and bank statement information ready.

The lender will be able to see your financial records at each address that you have listed. This will allow them to build a picture of your creditworthiness. They will then use this information to assess the risk of allowing you to borrow the money you need.

Lenders prefer to see stable financial records. Multiple addresses within a short time frame can indicate that you are not financially stable. However, many lenders will be willing to consider this.

Mortgage lenders and underwriters will verify your identity by comparing the addresses listed on your application with official records such as the electoral roll information. If you aren’t already on it, it’s a good idea to sign up.

Are credit reports showing previous addresses?

Yes. Lenders and other people/organisations you have done business with report addresses to credit reference agencies. Any address that you have used for postal purposes, whether it be rented accommodation as well as P.O., will be added to your credit file. Boxes and addresses for work.

Unlike other outdated information, old addresses don’t disappear from your credit report. They will stay there indefinitely. Old addresses on your credit report won’t affect your ability to apply for a mortgage.


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How to get a mortgage if you have a limited address history

It is important to improve your credit score before applying for a mortgage. It’s not a good idea to approach a mortgage lender who requires a three-year history of address verification if you have only proof of your last year of living.

Our guide to building credit and fixing it for mortgage applications might be a good starting point. Your credit score must be as strong as possible to get a mortgage lender to base the agreement on it.

We have lenders who offer several different mortgage types.

After you have reviewed your credit reports and made sure they are up-to-date and optimised where possible, it is a smart idea to contact a mortgage broker.

They have access to all lenders on the market and will know what each lender will and will not accept regarding address history. They will be able to introduce you to the best mortgage provider for you based on your circumstances and needs.

Your mortgage broker will consider the reasons for your limited address history when searching for the right lender. Your broker can help you find a lender specialising in ex-pat mortgages if you have a patchy UK history because you are an ex-pat living abroad.

How to deal with a former address that is threatening your mortgage application

This could happen if there is no record that you have lived at any of your former addresses for any reason. The lender may be reluctant to approve a mortgage application if there are discrepancies in the applicant’s address history.

There are possible workarounds, and a mortgage broker is the best way to get them. They can help you submit to credit reference agencies if you have documentation proof of your residence at the address. This could also be a way to save an existing application.

Your broker might be able to help you locate a new lender if your application was declined due to issues with your address history.


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Can a change of address impact a mortgage application

If you have an application with them, your mortgage lender will need to know about any changes to your circumstances. Although it shouldn’t be a problem, your lender may want to know why you have changed your address.

It is vital to keep your lender informed of any changes in an address during a mortgage application. If the mortgage provider believes there is a discrepancy in where you live and the address they have for you, your entire application could be cancelled.

Match with an expert mortgage broker today

Help is available if you don’t have enough proof of address or fear that a problem with one of your former residences could affect your chances of getting mortgage approval.

Our broker-matching service is free and will quickly assess your circumstances, address history, and needs to match you with the best advisor to help you obtain a mortgage.

We have a track record in serving customers like you, this person will be one we have carefully vetted and matched with.

Contact us today or complete an enquiry form to arrange a complimentary, no-obligation meeting between you and your ideal broker.


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