Credit Check info pls for renting

advicepls_2

Hi everyone

this is my 1st post here, i was hoping i could get some advice?

Basically me and my partner are looking into renting either from a estate agent or through a private landlord. What i would like to know is what things both need so u can get a lease?

What kind of checks are done on your profile?

Reason i am worried for myself is that i have a bad credit rating and i am currently not working but have some savings for the inital move etc. few months rent, deposit

I am moving to a diffrent part of the country so i cannot get work until i move there if u know what i mean.

Do the checks show if u are signing on? how in debt u are etc?

My partner is working atm but only partime and is waiting for news on another position. He also has savings and is ready but we dont know if these checks will hold us back or not

any advice would be great

Robert_Sterling_3

[Reason i am worried for myself is that i have a bad credit rating] They will check and find this out.

[ i am currently not working ] They will ask to see recent pay slips.

[I am moving to a diffrent part of the country so i cannot get work until i move there if u know what i mean.]

I think I know what you mean. You mean you are moving and you will have to find a new job when you get there.

I think that the checks that are made will hold you back.

advicepls_2

thanx for the reply, can u be abit more specific on why?

zaphod_beeblebrox_2

If you have a CCJ/default (within 7 years) you’re less likely to get a rental with an agent (fact)

Your best (maybe only) option is to pay the first 6 months up front (cash), then enter into a 2 months opt-out clause (by law in your favour) for the remainder of the 12 month contract

Agents will give YOU priority in these sheet times with 6 months cash up front, think about it, you will not be an 'I’ve been made redundant' threat to the landlord/agency for 6 months

advicepls_2

Thanx for that reply, would it be legal to get the lease under my partner who has a clear rating? and put him down for full rent even though it will be split?

scrummy_mummy_2

If he can afford the rent on his own, then it would not be illegal to do so even if you are living with him(rough calc is to take the monthly proposed rent and multiply it by 30)...if this value is less than his annual gross salary then he would be able to 'afford' the rent on his own as a sole tenant.
The down side to this is that you would be a permitted occupier (not a tenant) and so if he wants you out, you have no legal recourse, or claim on the tenancy because the tenancy is his and his alone.
The positives are that you are not liable for any rent! because you are not jointly and severally liable as you are not a joint tenant!

If his salary is not enough to cover the rent (30 times calculation) then you would need to be included on the agreement and any salary you have taken into consideration as a joint tenant however, the referencing agency may advise the agent/LL that a guarantor is required to support your tenancy...that is someone who agrees (legally) to pay the rent and associated bills/damage repair if you fail to do so....they too will need to be referenced and checked to make sure they can actually pay.....it will cost you through an agent for each check and possibly the guarantor paperwork but may be you only option.

advicepls_2

Thank u Scrummy mummy for the info, could i ask why multiply by 30?

Also for the guarantor could this be someone from either of our families?

barnaby-bear

advicepls wrote: »

Thank u Scrummy mummy for the info, could i ask why multiply by 30?

Also for the guarantor could this be someone from either of our families?

It's the affordabilty criteria the tenant checking agents use so if rent is £500 a month you need proof of income of 30x£500 = £15k a year to be passed as likely to be able to pay the rent. The usually ask for employer details and will fax them a form asking to confirm salary and that it's a permanent job you've been in for 3months+.

Guarantor can be a family member but they will need the income to cover the rent in their own right and preferably their own house (they prefer homeowners as they can put a charge on the property if you default and it's easy to trace them in that event).

schueys_girl

You would definetly need to pay 6 months rent up front from your savings, as the checks they do go to your credit and your landlord and then your employer to verify you earn what you say and it is enough to cover the rent and bills etc.

Without a job, some would be cautious but if you have savings and can afford the 6 months rent, bills etc then they have no reason to worry.

Do you definetly have enough savings between you for rent, bills, food etc so you do not get into trouble if u do not find a job straight away?