James
I am in the Forces and frequently move houses usually about every two years. When applying for loans or credit, I have to give previous addresses for the last five years. The only problem is that I have no control over what the people before us in the houses did with their credit history. Is it true that companies use addresses to check for credit history and if this is so, how do I ensure that I am not penalised for moving into a house that has a dodgy past?
Andy, Warminster
Andy
You needn't worry. Lenders do not check addresses, they check individuals and it is only your creditworthiness they're interested in and only your information at past addresses that they see when you apply for credit. People who live or have lived at your previous addresses cannot affect your creditworthiness. People who move a lot sometimes get a lower credit score than those who stay in one place, though, so it's worth pointing out that your are in the Forces and this is the reason for your frequent address changes. And make sure you register to vote because that is one of the ways lenders check your identity and that the previous address details you give are accurate.
James