Should I stay or should I go?

Dear James,

I have moved house three times in as many years. It appears that this may have affected my credit rating as I understand that most lenders want an address for at least three years alone. Prior to moving, I lived at home with my parents and had no problem obtaining credit. I am now looking to buy a house and get a mortgage. Will my current history of moving cause any problems?

Chris, Hertfordshire

Dear Chris,

It might cause you a few problems. Lenders do like to see some stability in a potential customer. If you have been registered on the electoral roll at these addresses and lenders can see this, the damage will be limited. How often you move is only one part of the picture - they will take lots of other things into account when deciding whether to give you a mortgage. As you're a first-time buyer you won't be unusual in having moved quite a bit recently.(November 2011)

James
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