Quick question about credit reference check

mikeyhulme1983

Hi,

I viewed a property last night to rent which I like and me & the girlfriend have decided to go for it. The agent is platinum.

They have said they want £200 for a credit reference check £150 for first applicant and £50 for second applicant.

Is this right as I know you can get them online for £2.

New to all this and already feel like there trying to con me

thanks

Troubled_Joe

Con's probably not the right word as you have a choice.

But it is certainly a large and arguably unjustified mark-up. I have a letting agent client who charges a similar amount but when I asked him to do one as a favour to me it was £5.

It's take it or leave it I'm afraid.

omen666

When I was looking to move into a new flat 5 weeks ago they were asking anywhere upto £300 in some London estate agents, daylight robbery and the only way for them to make any money in this climate, thank God for gumtree

mikeyhulme1983

I agree its an obscence amount considering how much they are. Well just thought Id check before I went down and paid.

Cheers Guys

tbs624

The max it will cost the LA to get a credit check made on you via the usual agencies is around fifty quid. ( Have a look at tenantverify for an idea of what the check covers its different from the 2 quid Experian/Equifax check that you mention) The rest is their (unjustifiably high) mark up for maybe ringing your previous LL, your employer or other referees.

Go via the local LL association and find a LL who self-manages his/her properties - they tend to only pass on the actual costs of the credit check itself.

mikeyhulme1983

I asked them about and he said that its also for admin costs etc... still steep but it secured the house for us. So I just paid it.