Very worried, help please!

Anne2

Evening!

Having missed the last couple of mortgage payments, we have found a new flat to rent and put down a holding deposit. I will not be going bankrupt until the BS ask for the shortfall, once they repossess and sell our property, so was thinking that letting agency credit check would be fine. Now just thought will the missed payments come up on the credit check?? We're half hoping that just my OH can put his name on contract but I don't think this will be the case. Also, (can't believe I didn't think of this before, ARRRRRRRRRRRRRRRRRRRRRGGHHHHHHH!!!!) what about references!???!!! (they haven't asked yet but assuming they will) Employer will be fine, but what on earth do we put for landlord ref????

Completely screwed this up, very worried we're going to loose new home we have finally found and the deposit we saved.

Any advice please!??!

Anne2

Thanks blind-as. That's what my husband has been telling me. Trying my best not to worry, but finding it difficult!

Anne2

Thanks blind-as, that is helpful. Hopefully I will add to your book of things never happening in the end!

Anne2

Does anyone know if the letting agent can ring the BS for reference/check if we're in arrears??

tigerfeet2006

AFAIK they don't.

There hav been ton's of people on here in your situation and hav had no problems with renting. As far as I can tell the check they do for rental is not the same as you would get for a loan.

Anne2

Thx tigerfeet, that's v good to know. Can't wait until visit to letting agency is done, then we'll know what they want and we'll hopefully be breathing a huge sigh of relief. They won't think it's strange that I have mortgage?? We're planning just to say we're moving to be closer to work but can't sell, so renting.
Thx again!

PS What does AFAIK stand for, sorry if I'm being thick!??!!!!

korben556

Hi, Went through the renting thing 6 months ago and we were in the process of being repossesed. we were completetely upfront, however had to be as credit was completetly shot!

The agency were great, although they did reqiure a guarantor, fortunately good friends of ours offered to help.

AKAIK means As far As I Know.

As others have said, try not to worry too much, it really does not help - I speak from experience.

Anne2

Thank you korben! I signed up with experian earlier and accessed a summary of my credit report, and it all looks fine, so fingers xed! Guarantor sounds like a very good idea, i think if we have problems that would be something we could hopefully suggest to them. I wish we had been upfront from the start, but feels a bit late to tell them now unless we absolutely have to. Thanks for the reassurance, I don't know what I would have done without this forum over the last few months! Hope you're settled in to your new home nicely!

Tinytim

Hi Anne, as Tigerfeet says, the credit check is not the same as when applying for credit. When you apply for credit, the lender is able to access information about the accounts you hold and their conduct - this can only be done by bona-fide lenders who meet the criteria laid down by the credit reference agencies and comply with the obligations of being a member of their scheme.

Anyone who is not a bona-fide lender, such as a letttings agent cn only access information that is in the public domain. This includes whether you are on the voters role, whether you have any CCJ's (but not defaults) and whether you are BR. Sometimes there will also be an indication of your credit worthiness, such as "good" or "caution", but no further details - The letting agents cannot find out whether you are in arrears with your mortgage unless they ask your lender for a reference, with your authority

gonebellyup

Hi Anne2

Just to say as a fellow worrier I know where you are coming from but it really sounds like you have it all under control - good luck with your new home.

Anne2

Thx tinytim and gonebellyup. Hopefully they won't ask to contact BS, they don't seem like a majorly efficient estate agent, fingers xed! We'll know in a few hours either way! Thx again