On our bank forum somebody has posted the following question:
Buying a Repossessed House and Credit Rating
If I buy a repossessed house that means I will end up living at an address that is listed as having a bad credit rating! What will that do for my own credit rating?
We will be posting an answer on the forum later today but, as this seems to be a commonly held belief, we felt perhaps it should be addressed here. These are the facts:
A credit search is done against name, then date of birth, and then the address.
Once you have lived at your new address for six months, contact Equifax or Experian for your credit report so that any inconsistencies can be addressed. There will be a small fee, just a few pounds, charged for this information.
Whichever agency you use should send you a copy of the information within seven working days and they will also tell you how you can change the information if it is not correct.