Renting with bad credit

sarahb7538

I am currently in a DMP ( or reasons totally out of my control..partner left and got lumbered with debts etc ..but thats another story) and i am currently renting through an agent. I took on my current tenancy prior to the DMP starting. I earn a good wage but i am looking to move.

I will have excellent references from both my current landlord and my previous landlord as i have never missed or been late with any rental payments and i look after all properties I live as they were my own. The DMP has been in place for a while now and it is all going well - not that, that would make any difference.

I am worried about the credit checks that letting agents do. Can anyone give me some advice. Its unlikely I would be able to provide a guarantor.

I'm sure that when i moved into the property I am in now i wasn't fully credit checked just bank referenced i.e they basically asked the bank if i could afford the rental commitment - not that it would have mattered as i had a glowing credit file at that point

Would it be best to just explain all to letting agent prior to applying for any properties . I would prefer not to have to tell the world about my problems but hey ho, or do you think it will just be a total no go for me and i'll have no chance of being accepted if i go through an agent.

It just seems a shame as honestly not that I am bigging myself up but i am a good tenant on every other respect. Do references count for anything?

Thanks in advance.

BitterAndTwisted

Most letting agents carry out credit-checks but not all landlords do, so if you don't want to fail a credit-check try and find a landlord to rent from direct. If you do fail a credit-check you might not be rejected out of hand but some landlords might ask you for six months rent in advance plus the usual deposit. Those glowing references will come in handy then

myothercarisaferrari

I had the same prob as you afew months ago - bad credit etc. I found a private landlord and saved on all the crappy fees estate agents charge. Just have a look round, you'll find one!
x

lotte123

I was in a similar boat to you (for what sound like similar reasons!) and spoke to the letting agent before they undertook the credit check to let them know the situation and what they would find. They were able to sound out the landlord as to whether they would be happy to proceed and advised that I might need a guarantor which I did. I asked my dad and he signed to say he'd pay if I didn't - there was no extra charge for this.

Ironically a couple of years previous (before my credit went down the pan) I was a guarantor for a friend who had been declared bankcrupt and needed somewhere to rent after a relationship breakdown. After 2 years they were satisfied she would pay and my name as guarantor was removed.

That is your worst case scenario - best case is they are happy to take your references etc. But I would definitely advise transparency from the beginning as it costs to run the credit check and there is no point having to cough up for that if the landlord wants someone who is squeaky clean on the credit side. Good luck x