trying to rent - bad credit - advice pls

bankjob_2

Hi just wondering if anyone has any advice on this...

My partner and I are about to start renting (previously rented privately) and as I have bad credit history (loan defaults now paying arrears and missed payments in the past as well as an arrangement I have to pay back an unauthorised overdraft) my partner has plenty of income to cover all bills and rent etc... However as I will be living in the property I have to be vetted aswell. They have told me that it will only be as an occupant not as a rental guarantor.

Does anyone have any experience with this and know whether we will be rejected due to my part in the application its just the 250 in fees is a lot to go to waste if we don't stand a chance???

Hope this all makes sense.

Thanks in advance

* I have already posted in the rent section but no responses so I'm trying here

climbgirl

Who are you renting from that's charging £250 in search fees?! Ours were £40 per person for a credit search when we rented in August last year...

We were told the multiplier of income to rent was 2.5-3x and that it was ok for one person's income to be used to calculate that. So if your partner can clear that on his own, you shouldn't have too much of an issue.

bankjob_2

Thanks for replying so soon its a local estate agent (very annoying as I used to work for them too, such a rip off 125 each). Yes, my partner does clear the x2.5 requirement and his credit is fine its just with mine being such a mess (can't get accepted for anything) I worried that we would now been declined. didn't understand why I needed to be checked if I had no financial responsibility to the contract??

Thanks again

Silvafox

When I had a bad credit history years ago and went through this process, the landlord simply asked for 6 months in advance. I think the important thing to do is to be honest on the forms - so where it asks if you have any adverse history - answer yes and explain why if possible. Then the landlord will be more lenient rather than saying you don't have any and then the credit search flagging it all up. It's partly about trust and if you're honest, they'll probably still accept you anyway.

x.jem.x

Hi,

Me & my fiance are currently renting a house together. However, it is only his name which is on the tenancy agreement. The estate agents never knew that I was going to be living there as well so we never had any risk that the application wouldn't be accepted. I give him £100 a week towards rent and bills etc etc. I was worried about putting my name on the tenancy/application as I knew I wouldn't pass the credit check.

Is there anyway that you can do the same? Just get your other half to submit the application for himself only and then just give him some money for the rent each month.

Hope this helps.

P.S Our landlord knows that I live there as well and he has no problems with this whatsoever.

sutok

Hi,

We were in exactly the same position. I have a bad credit rating (quite shockingly so if you look on equifax!) and we recently applied for a flat in London. I defaulted about 5 years ago and have been keeping up with repayments ever since via agreed plans. My other half has a spotless credit history.

Thankfully it was all approved!

I think its a question of your incomes, whether you have kept up with things and how honest you were on the reference forms. As everyone is in financial strife at the moment I think they are being pretty flexible.

If you want any more info please ask

Good luck.

QuantumSuccess

Typically credit checks for tenants can't see defaults or late payments. They can only see things like CCJs and Bankruptcy as well as whether or not you're on the Electoral Roll

Mowgli87

My credit rating is 190 (very poor)...and I have never had a problem renting.
They look at CCJS/income etc.

wrightk

just to confirm, potential landlords have no access to payment history, credit accounts, late payments etc all they can see is CCJ'S, defaults, bankruptcy and electoral roll data.

If your on the electoral roll, you can satisfy the income multiples and prove your income, dont bother telling them. It will only make them twitchy and ask for a guarantor/6 months rent in advance

agentpodge

Hi

I recently rented a flat alone even though I have bad credit (a CCJ, although settled, and numerous defaults as i'm making reduced payments on 3 debts).

As I was concerned about the credit check I discussed with the agent before making an application. I didn't go into too much detail - just said I had bad credit from the past which I knew would not pass me a credit check, but as I was now earning more I could meet more than the rental of the flat. I provided my salary, 3 months bank details to show that I had sufficient money going into the account.

I offered a guarantor (my mum) and as the landlord was satisfied that I had enough money to pay the rent, and my mum signed the tenancy as a guarantor in case I defaulted, he was happy to rent to me.

I think it will vary dependant on the landlord and the best thing I think would be to discuss it with the agent who will speak to the landlord. So long as your partner has enough money to cover the rent without you, then hopefully the landlord won't have a problem with you being on the tenancy because your partner could still pay even without you.

The best thing is to check before making a formal application just in case!

mikieyboy

four of us went for a house payling £500 for referance fee ect one was rejected namely me cos of ccj no defautls so we are out of pocket and no where to live is this right that they take this amount of money for what seems like nothing, we now have to try and stay where we are till we save enough again to pay for this to happen again or not ant idea's cheers