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Owner occupier or not ? What difference does it make and how can they check ?

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  • #1

    Owner occupier or not ? What difference does it make and how can they check ?

    Some credit application forms ask specifically whether you own the property you live in, whether it is mortgaged or not etc. but others ask whether you are a tenant, owner etc. and others simply ask if you are a home owner.

    Now I know we all understand that they are really asking whether we own the property we live in but how would they ever know ? Even as somewhat of a conspiracy theorist, I doubt they have uploaded a full database of residential ownership for cross referencing, or have they ?

    I live in a property where no mortgage exists, however, I do not own it. I do now own another property, also without a mortgage. So though I can truthfully answer that I am a home owner, would this flag up somewhere, as a change from private tenant to home owner without changing address ?

    Obviously I believe home owner status is scored more highly by lenders.

    Any thoughts ?
    Tags: act, action, address, application form, assets, bankruptcy, card, ccj, con, conspiracy, cra, cras, credit, credit card, creditor, creditors, date, debt, debts, equifax, individuals, land, land registry, legal, lenders, life, list, loan, mortgage, paid, privacy, private, property, reference, rent, royal mail, sar, share, spying, state, statute barred, tps, work
  • #2
    Re: Owner occupier or not ? What difference does it make and how can they check ?

    Originally posted by River Phoenix View Post
    I live in a property where no mortgage exists, however, I do not own it. I do now own another property, also without a mortgage. So though I can truthfully answer that I am a home owner, would this flag up somewhere, as a change from private tenant to home owner without changing address ?

    Obviously I believe home owner status is scored more highly by lenders.

    Any thoughts ?
    Hi,
    At a guess it would be with reference from where you are applying for credit.
    i.e You are applying for a credit card and on the application form you state your address is 29 Acacia Road (Bananaman's address!) - this is the status they are asking for.
    If you own it (mortgaged or not) you are the home owner. If you rent it from a landlord you are a tenant.
    I would also assume if you tick "homeowner" it would improve your chance as they would have something to secure the loan on should it turn sour for them.
    As for can they check - no idea. I *think* the land registry offers some kind of information but not sure if they would access this.
    When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Owner occupier or not ? What difference does it make and how can they check ?

      I am not suggesting we clear up their ambiguity but rather that without downright lying, their poorly designed application form could be completed in more than one way.

      However, if they have every property in their database along with who owns it and reasonably up to date (impossible task I think) then I would rather know.

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      • #4
        Re: Owner occupier or not ? What difference does it make and how can they check ?

        I don't know the answer to your question, but i am sure someone who does will be along soon.
        When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Owner occupier or not ? What difference does it make and how can they check ?

          I'm not to sure on this one .
          I do know that they would check with CRA's for mortgage payments, but, if you don't have one they can't know you own your home unless they contact the land registry,
          we did a SAR on one of our debts and one of the entry's had on it 'no mortgage showing' (we had paid it off) and a lot of the letters we got threatening legal action don't mention a Charging order if we don't pay, when they get the CCJ they think they will get.
          so maybe it depends on how much digging they want to do ?
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #6
            Re: Owner occupier or not ? What difference does it make and how can they check ?

            Originally posted by River Phoenix View Post

            However, if they have every property in their database along with who owns it and reasonably up to date (impossible task I think) then I would rather know.
            Banks/credit card companies don't have such a database..... but they can run a check at the Land Registry to find out if they choose to.
            Remember the mantra:
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            PriorityOne & CPUTR 2008 (ex P1 CAG CPUTR 2008)

            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #7
              Re: Owner occupier or not ? What difference does it make and how can they check ?

              Equifax (and other CRAs) have access to an incredible amount of private information on individuals including full access to the Land Registry database since 2008. On your report it'll state price paid for the property etc.

              If I'm to be objective (which I find hard) it can be helpful to confirm that you are telling the truth on an application form. My inner cynic says that it's mostly used to assess your assets so a creditor can make an informed decision whether it's worth pursuing you for bankruptcy when the sh*t hits the fan.

              https://equifaxuk.custhelp.com/app/a...and%20registry

              If you look at this scary list of options offered to creditors by the Equifax Tracing Service you'll also see that they share the Royal Mail re-direct service and can provide a "Deceased Report"

              https://www.uk.equifax.com/ee4/WebHe...g_Services.htm

              This is why AAD advises against checking your credit report because in the very least it flags up that you are still alive and well, and living at an address which they will then pass on to any creditor who subscribes to their service.

              I find this invasion of privacy absolutely repugnant even though it's lawful.

              Big Brother is watching so keep your head down until you're sure a debt is statute barred

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              • #8
                Re: Owner occupier or not ? What difference does it make and how can they check ?

                Whenever you apply to Land Registry as an individual, you supply the address of the property and it returns the details including names of owners.

                If you have a property but do not live there, and live in a property you don't own. There is no connection, and no lie if you use your current address. There is an entry on the CRA for a mortgage, but it may or may not be where you live.

                If you lie on an application form, and you ate found out, they may invoke a plague of frogs on you and revoke your credit. Alternatively they may never check.

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