PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Tenancy application asking about all credit cards etc
Options
bugzie92
Posts: 171 Forumite
Hello
We are in the process of applying for tenancy.
We have been privately rented for nearly 5 years and have never missed a payment or anything like that. But every time we have applied before they have asked for bank details for a credit check and that's it.
However on our current application they are asking for all credit card debt, how much our monthly payments are etc etc. Now I'm worried because we have ALOT of debt, but it is manageable and it doesn't hinder on our ability to pay rent. They also ask if we have any "adverse credit hostor". Now I've been a few days paying very payments a couple of times over the years, but no county things or anything against us. Do I need to put this down?
I'm just worried that having to write out every single detail of our financial affairs is going to make our application go in the bin. The fees are £500 and apparently if we fail we will only get 50% back. We like the house but this is really worrying and of putting. Why can't they run a credit check normally like others to see we have have good credit scores (which we do). They also want all the various references which is fine. Just seems an almighty interrogation which has never happened before. Is this normal? We have lived in the same house for nearly 3 years so perhaps things have changed.... thanks
We are in the process of applying for tenancy.
We have been privately rented for nearly 5 years and have never missed a payment or anything like that. But every time we have applied before they have asked for bank details for a credit check and that's it.
However on our current application they are asking for all credit card debt, how much our monthly payments are etc etc. Now I'm worried because we have ALOT of debt, but it is manageable and it doesn't hinder on our ability to pay rent. They also ask if we have any "adverse credit hostor". Now I've been a few days paying very payments a couple of times over the years, but no county things or anything against us. Do I need to put this down?
I'm just worried that having to write out every single detail of our financial affairs is going to make our application go in the bin. The fees are £500 and apparently if we fail we will only get 50% back. We like the house but this is really worrying and of putting. Why can't they run a credit check normally like others to see we have have good credit scores (which we do). They also want all the various references which is fine. Just seems an almighty interrogation which has never happened before. Is this normal? We have lived in the same house for nearly 3 years so perhaps things have changed.... thanks
May total - £1435
0
Comments
-
They can only see public records from your credit file - CCJs, Bankruptcy, IVAs, etc. They cannot see the detail of credit accounts held, payment history etc. They cannot see "credit scores".
So it is up to you what you want to declare.0 -
It just feels wrong having a section asking specifically about credit card debt and leaving it blank. But then I don't want it to come across like I can't afford rent because I have lots of credit card debt. I certainly don't have any court judgments or anthing against me. Is it normal to be asked if this in a tenancy application?May total - £14350
-
It just feels wrong having a section asking specifically about credit card debt and leaving it blank. But then I don't want it to come across like I can't afford rent because I have lots of credit card debt. I certainly don't have any court judgments or anthing against me. Is it normal to be asked if this in a tenancy application?
It will depend on what the landlord wants the agent to do. The agent works for the landlord and we don't know if the landlord has had problems in the past with tenants who have a lot of debt not paying the rent. Who knows but these are the financial checks for this property. It is possible that this is not the property for you.0 -
The form I've been given is a standard tenancy one. It doesn't look like it is specifically for this property but a general template one.May total - £14350
-
The landlord is simply trying to establish that you can actually afford to pay the rent. If you are providing bank statements it will show any payments made to credit card companies. If you haven't mentioned the credit cards it will appear that you are trying to hide some of your debts.
Much better to declare them and take your chances.
It might be worth providing a record of your rent payment history to show you are a good payer. You can either ask your current Landlord to provide one or just do a transaction search on your bank account and print it off (you can go back six years). Thats what I would do anyway.0 -
It just feels wrong having a section asking specifically about credit card debt and leaving it blank. But then I don't want it to come across like I can't afford rent because I have lots of credit card debt. I certainly don't have any court judgments or anthing against me. Is it normal to be asked if this in a tenancy application?
I'd just put N/A.
Technically true.0 -
So on one hand it will show large credit card repayment, on the other, that you've paid rent on the same day (assume) each of these months and still managed. Surely it is a good thing.
It can go to ways, they only look at debts, are worried, say no because they got another interested party with no debts, or it will show exactly what they are after, and that is that you have paid rent on time for years.
It's a gamble in terms of whether it's worth paying the fee. Maybe worth asking the agency if high debts be an immediate no (and get the response in writing).0 -
It's just frustrating because they are asking for our monthly payments. I pay a large amount but I've just dropped them all down to help financially with the £3500 we have to find upfront to actually move. I don't want it to come across like i scrimp on by by paying minimum payments (which I currently am for the reasons above).May total - £14350
-
Is it normal to be asked the question in a tenancy agreement? I'd say it was quite unusual. They're not a bank and you're not applying for a mortgage.
I'd be very forgetful personally.0 -
put N/A
All they need to know is your outgoings vs your income, they dont need to know the specifics of those outgoings. Its none of their business. I personally think credit history is also a N/A but these guys are on a power trip.
Tell them you can provide recent 3 months bank statements so they can check affordability, if they dont like it then move on.
Maybe you can ask for their credit details, as you want to be sure the house isnt about to be repossessed and they have the means to carry out repair work etc. without hiking the rent. See how they like it.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards