How does moving to Australia affect your credit rating.

[elmax]

I am thinking of moving to Australia. I have a very poor credit rating in the UK due to a failed business. I have CCJ's registered against me which means that I am paying my debts off monthly, which I will continue to do from Australia. If I move to Australia and apply for a mortgage will they search my UK credit file or do I start from scratch in Australia and build up a credit history there? Thanks for your time.

[ceedee1951]

Credit references will be taken up from your British Banks and perhaps UK credit reference agencies (no frontiers for them-it's business!!). I would suggest that you start with a clean slate in Australia - it would be preferable to cut all ties with the UK (no postal or banking links) and start a new life in Australia and build up a new credit rating. Depending on your type of work/employer/employment contract you may not have to wait the obligatory three years fto build a new credit file. You can still send money to the UK via other methods (other than your new Australian bank account) if you still wish to?? If you go into an employed 'state' with a large employer and with a contract of employment, you will likely get a better bank account than our basic accounts. Some large employers can get/give assistance in obtaining mortgages & better banking facilities.

[elmax]

Thanks very much for taking the time to reply to my question, very much apreciated.