Thread: Credit History on return from overseas

Thought I'd post this in the hope that it will help someone else.

We're just about to return to the UK after 2.5 years in a land down under. OH has been trying to organise HP for a car, from here (via email and skype, which is hard enough) and it's been a fricking nightmare! We didn't appreciate how the gap in our credit history would affect us - naively assumed that with his job security, salary, our UK home ownership (rented out) and previous residence that we wouldn't be a 'risk'. How wrong we were!

Had we known, I think we'd have got a parent to put us both down on their electoral roll, and changed a couple of addresses so that the occasional credit card or mobile bill went to them as well, in the hope that the tallying up of these things would allow us to use this address as our UK 'base' prior to and on return. As it is, we were registered to vote at our own house, but our tenants have taken us off, as they should, and all our 'bills' are either online, or posted here. So as far as the UK goes we are personae non grata. It's only down to a helluva juggle involving the Royal Mail holding service for the MQ we haven't moved into yet (don't worry, it's empty) and a rushed registering with utilities etc that (we hope) we will have any paperwork at all. Had we not got the MQ, which has been looking shaky until about a week ago, we wouldn't even have been able to do this.

Hope this helps someone in a similar situation. 6 weeks till we land on England's fair shores, and not looking forward to winter!

Oh yes, this is something I am still trying to rectify at the moment. After a 3 yr stint abroad, I've come back to zero credit rating. There are ways you can kick start it again, but it takes a while. Creditbuilder on a Cashplus card for a start. A sim only contract with Three mobile and get on the voters role as quickly as possible. Then just sit back and wait. You can also start taking out small loans from those 'cash 'till paday' companies. Yes it's expensive but if you don't spend the money, and pay in back a couple of days early, after a few months you should have a decent credit score.

But in hind sight I would have put myself on the voters roll at a family members house like you said Savvy, and have a small loan or card at that address too. It's certainly something worth considering if you're being posted abroad.

Just read this and I find the whole thing totally bizarre!! I can not believe that the credit rating agencies would have the foresight to set up a system where they can tell people are BFPO!!

TLC x

Well I changed my bank to a BFPO address, and we had car finance for a tax free car too, but it hasn't made the slightest bit of difference.

It's a nightmare. I was OK to have mortgages but not to have a contract phone. Where's the sense in that then?!

Credit ratings and the Forces is something that gets me seriously wound up.

I agree it is a problem. At the moment I am not sure what the answer is.

It's not just the Forces- I have been away for 6 years and want to come back next year - but because I closed everything down when I left (I was never coming back at that point!) - now it's like starting from scratch!

i know my friend had trouble even opening a bankaccount over here, after a overseas posting. she had to share her husbands bankaccount for a year.
me and the manshae will have the same problem in germany tho, when in a few years time, we settle there.
i just can't get over , how oweing money helps more, then paying your bills and not owe a penny......crazy world we live in.

Putting my finance head on.

Owing money helps because that is what shows on the Experian search. So if you keep a small credit card account open and use it then pay off in full it shows that you are able to maintain regular payments and are therefore credit worthy to an extent.

Same with personal loan/car finance (if taken out in UK) that kind of thing.

It is great that you have savings, but that won't show up so a lender looking at your credit file will not be able to see that discipline unless it is your bank and your savings are with your bank.

In relation to Voters Roll we have put ourselves on my Nan's vr so that we at least have some trace. We first did it when we left the country but the dozy mare took us off of it.

You can have a fantastic credit rating and still get refused, no lender is obliged to give you anything in this economic climate.

Originally Posted by bootifull

You can have a fantastic credit rating and still get refused, no lender is obliged to give you anything in this economic climate.

That is also very true.

I worked for a car finance firm on a temp basis once who would not lend to forces under any circumstances. The irony is that they had a branch that only dealt with the forces and they were interrelated. Work that one out.

oh i know all that Gonzo, i still find it wrong tho

Originally Posted by padme

oh i know all that Gonzo, i still find it wrong tho

I agree, but to be fair non-military also have the same problem if they have never had credit.

We came back from an oversea's posting last year and it was harder setting things up over here than it was to set things up in the USA with no credit rating.

We had kept & used our UK bank accounts but it stood for nothing. Big deposits for new mobile phone contracts. I think I told the company that we were being discriminated against for serving our country!

Don't get me started on car insurance, we lost all our no claims, and they wouldn't accept letters stating we had a clean record from our US insurers.

I have heard that some of these issues are being looked into under the Military Covenant. Anyone else know?

Just to add - I've just put us on the electoral role at our new address, but what I filled in was a 'Forces Electoral Roll' form, on which you can put any address - doesn't have to be the one you live/lived/will live at, in case that's any use to anyone.

I just wish someone had told us these things before we left - i thought coming back to the UK would be so much simpler - but it seems a previous A1 credit rating, mortgage (regular reliable debt payment), OH's salary and (currently) job security count for nada. I just wish someone could tell us these things, it's not as though we're the only people ever to go O/S ....although it often feels that way....