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    • bugzie92
    • By bugzie92 17th Jun 17, 9:34 PM
    • 142Posts
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    bugzie92
    Tenancy application asking about all credit cards etc
    • #1
    • 17th Jun 17, 9:34 PM
    Tenancy application asking about all credit cards etc 17th Jun 17 at 9:34 PM
    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
    May total - £1435
Page 1
    • anselld
    • By anselld 17th Jun 17, 9:57 PM
    • 5,164 Posts
    • 4,711 Thanks
    anselld
    • #2
    • 17th Jun 17, 9:57 PM
    • #2
    • 17th Jun 17, 9:57 PM
    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.
    • bugzie92
    • By bugzie92 17th Jun 17, 10:02 PM
    • 142 Posts
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    bugzie92
    • #3
    • 17th Jun 17, 10:02 PM
    • #3
    • 17th Jun 17, 10:02 PM
    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 - £1435
    • Cakeguts
    • By Cakeguts 17th Jun 17, 11:33 PM
    • 2,507 Posts
    • 3,345 Thanks
    Cakeguts
    • #4
    • 17th Jun 17, 11:33 PM
    • #4
    • 17th Jun 17, 11:33 PM
    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?
    Originally posted by bugzie92
    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.
    • bugzie92
    • By bugzie92 17th Jun 17, 11:51 PM
    • 142 Posts
    • 2,480 Thanks
    bugzie92
    • #5
    • 17th Jun 17, 11:51 PM
    • #5
    • 17th Jun 17, 11:51 PM
    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 - £1435
    • Mossfarr
    • By Mossfarr 18th Jun 17, 10:42 AM
    • 376 Posts
    • 475 Thanks
    Mossfarr
    • #6
    • 18th Jun 17, 10:42 AM
    • #6
    • 18th Jun 17, 10:42 AM
    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.
    • Red-Squirrel
    • By Red-Squirrel 18th Jun 17, 10:53 AM
    • 1,207 Posts
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    Red-Squirrel
    • #7
    • 18th Jun 17, 10:53 AM
    • #7
    • 18th Jun 17, 10:53 AM
    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?
    Originally posted by bugzie92
    I'd just put N/A.

    Technically true.
    • FBaby
    • By FBaby 18th Jun 17, 1:55 PM
    • 15,508 Posts
    • 38,876 Thanks
    FBaby
    • #8
    • 18th Jun 17, 1:55 PM
    • #8
    • 18th Jun 17, 1:55 PM
    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).
    • bugzie92
    • By bugzie92 18th Jun 17, 3:19 PM
    • 142 Posts
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    bugzie92
    • #9
    • 18th Jun 17, 3:19 PM
    • #9
    • 18th Jun 17, 3:19 PM
    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 - £1435
    • sheff6107
    • By sheff6107 18th Jun 17, 4:17 PM
    • 370 Posts
    • 238 Thanks
    sheff6107
    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.
    • Chrysalis
    • By Chrysalis 18th Jun 17, 4:25 PM
    • 1,863 Posts
    • 829 Thanks
    Chrysalis
    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.
    • bugzie92
    • By bugzie92 18th Jun 17, 6:12 PM
    • 142 Posts
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    bugzie92
    I'm not overly bothered about supplying them. It just seems odd. Don't really like the fact a company will know which credit cards I have, the amounts on them, and the credit limit of them. Plus all my other details. Makes me feel iffy. Am I being paranoid?
    May total - £1435
    • Red-Squirrel
    • By Red-Squirrel 18th Jun 17, 8:20 PM
    • 1,207 Posts
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    Red-Squirrel
    I'm not overly bothered about supplying them. It just seems odd. Don't really like the fact a company will know which credit cards I have, the amounts on them, and the credit limit of them. Plus all my other details. Makes me feel iffy. Am I being paranoid?
    Originally posted by bugzie92
    No, its very intrusive. You'd expect to give these kind of details to a mortgage lender, but then they are heavily regulated. Why should an estate agent have a right to this level of personal data?
    • bugzie92
    • By bugzie92 18th Jun 17, 10:01 PM
    • 142 Posts
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    bugzie92
    They also want my bank account number and sort code. Is this necessary to run a bank reference / credit check?
    May total - £1435
    • anselld
    • By anselld 18th Jun 17, 10:09 PM
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    anselld
    They also want my bank account number and sort code. Is this necessary to run a bank reference / credit check?
    Originally posted by bugzie92
    They can check it is a valid account/sort code. That is all.
    • bugzie92
    • By bugzie92 18th Jun 17, 10:13 PM
    • 142 Posts
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    bugzie92
    So I need to provide it then? Also passport numbers, NI numbers etc. Seems a very excessive form. There is no data protection declaration on it either :/
    May total - £1435
    • anselld
    • By anselld 18th Jun 17, 10:25 PM
    • 5,164 Posts
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    anselld
    So I need to provide it then? Also passport numbers, NI numbers etc. Seems a very excessive form. There is no data protection declaration on it either :/
    Originally posted by bugzie92
    You don't need to do anything.
    The L doesn't need to rent to you.

    Government right to rent checks would in any case dictate the L has a photo of your passport. NI number provides very little except to cross correlate with payslips.

    There is really no way to rent without giving some personal information and data protection applies regardless of any declaration. The only question remains how open you want to be about your debt and that is entirely your choice.
    • bugzie92
    • By bugzie92 18th Jun 17, 10:56 PM
    • 142 Posts
    • 2,480 Thanks
    bugzie92
    I have no problem declaring my debt. It is specifically itemising it. I'd have no problems stating I owe xx to credit cards, pay xx a month, and limit overall is xx. But to have to write out them specifically worries me more then anything. I've stopped panicking about having debt in general as I know we are not alone with having credit card debt. It's just how intrusive this form is. To have all of this on a form with no data protection declaration declaration on it either. It's basically detailing every aspect of my life? I'd expect this type of form for a mortgage, but not a tenancy.
    May total - £1435
    • anselld
    • By anselld 18th Jun 17, 11:10 PM
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    anselld
    I'd expect this type of form for a mortgage, but not a tenancy.
    Originally posted by bugzie92
    The L is lending you a house.
    The mortgage co is lending you a house.
    What is the difference?

    Actually the difference is the mortgage co is a regulated lender so they can see your full credit file. The L cannot. Hence in renting the L may ask the same questions but you can be more selective in how you answer.
    • bugzie92
    • By bugzie92 18th Jun 17, 11:17 PM
    • 142 Posts
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    bugzie92
    I just wanted to check that this was all normal. I just haven't come across a form like this before.
    May total - £1435
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