Questions regarding renting -

gianni_uk

Hi people,

Im looking into renting a property for the first time, i have spoken with some letting agents, all seems ok. They advise me they need to do a credit check to make sure i can afford the payments, which is clearly understandable, but when i ask what things are checked, they advise, its just a credit check.

Now my question is, is this the same sort of check when applying for a loan or credit card etc? not that i have bad credit, but i know that searches are recorded on your credit file, and so say i move in, then next month i have a loan for say £1000 for some basic furniture, new bed (i really need a new bed!) ect, is the previous search going to affect the search when the applying for the loan?

Maybe im being paranoid?!

gazfocus

The credit check does go on your file but I believe it doesn't have a bad effect on your ability to get credit unless you have more than a few credit checks. You should be ok

I have a really bad credit rating so my LA are going to credit check my guarantor instead.

kes1981

Credit checks are recorded - you can log on to Equifax or Experian yourself to see your own credit history (does cost though - although you could do the free trial and then close your account if you only want to see it once.)
It doesn't have an adverse effect as its just a search - it's what the search could find out that is the problem! If there's a history of falling behind on previous credit agreements, for example, this is reflected in the score.

You could always rent a furnished place then you wouldn't even need the loan!