MSE News: U-turn means flatmates' poor credit won't harm you

c-m

Currently estate agents and Landlords can only see public information on your credit report, not a full credit check in terms of defauls and the number of credit agreements.

Anyway, it's good news that renters won't be linked. That was just a daft idea, there's what? 2 million students in the UK, at some point almost all them will live in a shared property, and may not know everyone that they live with.

aldredd

ah ok - so an Identity check rather than credit check?

c-m

Kind of. They can check CCJs and bankrupcies as they are publicly avilable.

At the moment Credit agencies will only share data with those who share it with them.

Experian_company_representative

And that will continue to be the case. Landlords will not be able to see your private credit history data, just rent data and public financial data. Rent data will not be part of our credit data sharing scheme, where a strict principle of reciprocity applies.

On coverage, we'll also, in due course, be inviting tenants to contact us to flag up their tenant/landlord relationships, to help make sure we get their data onto the Rental Exchange as well.

We are continuing to read these threads. Some very interesting points made so far.

James Jones

c-m

Well that sounds much more reassuring. Thanks for the response.

MissMoneypenny

Experian_company_representative wrote: »

We are continuing to read these threads. Some very interesting points made so far.

James Jones

What is the time frame to remove incorrect data from your records, once a tenant contacts you?

I assume you are aware the tenant may be made homeless from your incorrect day and that they will then be a liability on the local council to house (as they haven't made themselves intentionally homeless)?

MissMoneypenny

Experian_company_representative wrote: »

On coverage, we'll also, in due course, be inviting tenants to contact us to flag up their tenant/landlord relationships, to help make sure we get their data onto the Rental Exchange as well.

Would you elucidate, please.

Will this only just be used for tenants who are legally witholding rent?

i.e.

• failure to carry out repairs and rent withheld following the legal route. http://england.shelter.org.uk/get_advice/repairs_and_bad_conditions/disrepair_in_rented_accommodation/repairs_in_social_housing/withholding_rent_over_repairs
• landlord living abroad, doesn't use an agent and hasn't shown the tenant their tax exemption form, so tenant is required by law to pay landlords' tax on the rent, direct to HMRC. http://www.hmrc.gov.uk/manuals/pimmanual/pim4800.htm
• Landlord lives abroad and hasn't given an address in England (as per one of the Housing Acts)

aldredd

MissMoneypenny wrote: »

Would you elucidate, please.

My interpretation was to allow you to 'sign yourself up' for getting your payment history on file if your LL isn't already doing so.

princeofpounds

And that will continue to be the case. Landlords will not be able to see your private credit history data, just rent data and public financial data. Rent data will not be part of our credit data sharing scheme, where a strict principle of reciprocity applies.

That is more reassuring, for all the venomous comments I have made on the thread. I don't object to a referencing system as that is not dissimilar to what you have to provide as things stand at the moment.

But I would hope that any system would give equal input to a tenant's view of a situation, and also that it would link landlords to records too; I know I would pay a fiver to check out a landlord in the way they check me out.

What scared me in particular was linking of the rental record and credit record, for all the reasons outlined in previous posts. Although both represent a liability stream, they are very different in terms of legal structure and cannot and should not be compared.

Experian_company_representative

I agree. The rental data will be kept separately to the credit history data we hold. What will be the same though is the work we'll do to try to ensure data accuracy, which is of course a legal requirement. Encouraging people to check their own data from time to time is an important part of this and any data disputes will be pursued expediently.

James Jones