Renting with bad credit

[Deleted User]

Hi basically I am on a DMP, (other half does not know) been on it a few years and going well, we sold our house and are living in a caravan while saving for a few years, but other half thinks we should rent, would a letting agency or private landlord do a credit check, will they stop us from renting, just want a chance to start again, any advice would be appreciated thankyou

Max_Maxwell

Hi Fairyface, being on a DMP is highly unlikely to cause you any problems. Yes, nearly all agents or landlords will want to undertake a check of your financial history but what they're mostly concerned about is whether you're a bankrupt, have CCJ's against you and whether you can comfortably afford the rent. A tenant(s) annual salary usually needs to be at least 2 and a half times the annual rent.

Most agency application forms will only ask if you are a bankrupt in which case you can answer no because you are not (assuming you're not?). But if it comes to the crunch and you get heavily quizzed about your credit history it's best to be honest upfront. Open and honest communication goes a long way.

Bottom line is that the agent/ landlord is satisfied you earn enough to pay the rent and your jobs are secure. Good references from your employers and bank is usually enough. And if you are leasing the caravan from a third-party ask them to provide a reference too.

Max

theartfullodger

Suggest you tell OH as it is just possibly the DMP may crop up - unlikely I grant - and OH would probably prefer to hear it from you rather than, say, a letting agent...

You'd nae want OH to be keeping secrets from you eh??

Hope it works out, best of luck!