Will I be able to rent on a DMP?

lookingforthelight

Hi,

If I am on a DMP will I be able to rent a property?

I know letting agencies do a reference check but thought only companies considering lending you money are able to see ALL of your financial payment history i.e late payments and defaults.

Can anyone confirm that letting agencies can only check the basics like electoral roll, bankruptcy.

Thx

YORKSHIRELASS

Hi, cant say about DMP but I had a colleague who had been through an IVA and was able to rent privately. There was a question on the letting agency form that was quite difficult to answer because it asked about any payment defaults or financial issues. My friend decided to be honest and declare the IVA but the rental still went ahead without any problems.

Hope this helps, someone else will be along to give more specific info about the DMP.

Shoe_Gal

Bumping this up as I have the same question?

Thanks

PNPSUKNET

they tend to look for bankrupcy or ccj's

Pott5y

lookingforthelight wrote: »

Hi,

If I am on a DMP will I be able to rent a property?

I know letting agencies do a reference check but thought only companies considering lending you money are able to see ALL of your financial payment history i.e late payments and defaults.

Can anyone confirm that letting agencies can only check the basics like electoral roll, bankruptcy.

Thx

You are correct. There was a recent post on here form the Experian Rep themselves and they confirmed this. As long as you have no CCJs or Bankrupcy you should be ok.

I was on a DMP for 6 years and I managed to rent through 3 different agents. They are more interested in whether you can afford it. I think the calculator they use is your (or joint) salaries should be no less than 2.5 times the annual rent.

Good luck