First time renter... credit checks and current business lease

JamesDB

Hi everyone,

Love this forum - thought I'd ask this and see if anyone has any clues before I do anything...

I'm looking to rent for the first time. Up to now I've been living with my parents. Thing is, I'm self employed and the business pays rent on the premises, phone, internet and other utilities. Because I live at home I rarely take a salary on the business as it's only me, and I know anything I earn is still there. The business lease finishes in the next 6 weeks and I'd like to go straight from the premises to a flat.

The rent I pay now as a business is about the same as what I'm looking to rent at the end of the day. Working out council tax, utilities, deposits, etc etc it comes to within a few quid of the last 18/24 months with the business lease. I'd have thought residential utilities and council tax is a tad cheaper too? I've got a few questions though...

I don't have any credit cards, use only a Solo card with the HSBC and have been overdrawn by £30 or £40 at a time, maybe two or three times over the last 8 years with them. All I pay on direct debit is a mobile phone at £19 a month, and pay in to the account every few months or when I do some private work. I'm concerned that if a letting agency runs a credit check it won't look great with just my phone on it. I also don't have a fixed number as a salary, although will be looking to go back in to work part time next year.

The business account has a history of about 3 years and has everything I've had come in and out. There was £1k debt this year, so I took on a second temp job at the same time and paid it off every week over a month or two.

Everything is with the HSBC and always has been. However, all records of my earnings and credit - such as that with the business lease - are on the business account, and presumably won't be considered when I look to rent a flat.

Any ideas on the best course of action? I've had dozens of offers for the Aqua and other 49% type credit cards, would it be worth getting one just to start building up a record?

Many thanks for any thoughts or advice - really don't want to screw this up!

Cheers - Jim

clutton_2

why not buy a copy of your own credit records and see what it looks like ? https://www.equifax.co.uk

silvercar

would your parents be happy to act as guarantor?

JamesDB

Morning,

Thanks for the replies.

I've just ordered (for £2 a go) my credit record from Equifax and Experian. I did it with Experian last year and it came back with my telephone on there and nothing else, so went for both agencies this time.

Thanks for reminding me about it.

silvercar - I think they might do, but I don't think they'd jump at it or offer to be etc. I'll ask them and see what they think.

Cheers again.