Hidden consequences?

[pommysteve]

Hi all,

I was wondering about hidden consequences of emmigration?

Leaving the uk for say 5 years And then returning would leave a large blank in your uk credit history, do you have to rebuild it from scratch upon return?

How do uk lenders view you after a Long spell abroad?

Are you generally considered a higher risk having gained the ability to move countries at short noticevince gaining PR / Citizenship?

 

Is there anything you can do to ensure the above remain in tact like managing a small uk bank account/renting your property out to keep a decent credit rating?

 

Are there any other hidden consequences?

I'd be very interested to hear first hand experiences please?

 

Be excellent to each other :smile:

steve.

[tracy123]

Hi Steve

 

Bumping the thread back up for you.

 

I read on one of the threads that someone stayed away leaving a bank account open only to find there credit rating gone, if that's the case you may as well not pay any bills max out your store cards etc

I know it's not the right thing to do and I'm not advising anyone to do it, it's just a shame when people do the right thing and get treated the same as someone who will just pick up sticks and leave.

[basil]

Not in Aus but i lived overseas for several years and returned last year.

 

While I was away I left a current account open at a C/O address (my parents). My credit rating remained fine. The only real issue I've encountered was that just about everything from opening a new bank account to an electric account wanted a previous address.....which I thankfully gave the C/O one as most don't seem to be able to input overseas info and you get lots of call centre peeps saying 'computer says no'.

 

Oh and BT (who really should be avoided at all costs anyway) wanted a chunk of money up front....even though I'd had accounts with them in the past, apparently me declaring i'd previously lived overseas made me 'high risk'.....if you say it's your first home though you're fine!

[pommysteve]

Thanks Guys,

This is helpful. I think these things are important to consider and easy to overlook.

I plan to return to the UK one(If I ever get out to Aus) and would like to ensure upon my return that i am entitled to all the benefits i've grown up with as well as protecting my credit scrore ect...

Keep the advice coming please...

Pommysteve.

[jaxcooper]

I also lived away for 10 years. I left a basic account open with onle a few pounds in and changed my account address to my fathers address.

When I came back and needed credit I applied for a store card (debenhams with an extremely high interest rate)as I knew they give store cards out without even blinking. I used it a little and payed the balance off each month and within 3 months I was able to get any credit I wanted (unfortunately!)

It's not too complicated to get back on track...

[basil]

Oh i also notified the tax office of my move and gave them an overseas forwarding address......that way i still recieved mail from them and they wrote to me each year to inform me of the effect of not paying NI on my state pension and gave me the option of paying minimum NI, if i remember rightly(although doubt state pension will be around when I retire).

 

I think you're also meant to inform the DVLA (bit I didn't!) and NHS.

The NHS seems to have no facility to add overseas records to your file from my experience, so I keep x-rays, doctors reports etc myself and have to take them in each visit if relevant to discuss with the doctor. But things like vaccines and smears the compute thinks i've not had and so keeps sending letters for.

Just little things though.